Managing Director of ARB Apex Bank PLC, Alex Kwasi Awuah, has advised Rural and Community Banks (RCBs) to redesign and integrate their systems to assist them cope and position themselves properly in the face of economic uncertainties facing the world. He explained that after almost fifty years since the establishment of the first rural bank to bridge the rural financial intermediation gap, much has not been achieved as there is more to be desired since rural banks have not fully embraced and integrated the tools needed to bridge the gap between those who have access to financial services and the unbanked population. He however expressed optimism that with the advent of digitalisation and growth in financial technology (Fintech) solutions, the gap will be closed – especially with the establishment of a Digital Banking Unit. “We must fully embrace the digital revolution by deploying the right products and services to fill this yawning gap in our RCBs’ sub-sector. We at ARB Apex Bank are confident that we can close this gap through digital solutions such as Agency Banking, Mobile Banking and the Internet Banking Project, which will soon be implemented,” he added. ARB Apex Bank has set up a dedicated Digital Banking Unit as part of its new strategic initiatives, and it is hoped that this will bring about fresh impetus to expand its banking service platforms and increase financial access within the communities in which rural banks operate. Mr. Awuah made these comments at the just-ended 21st Chief Executive Officers (CEO) Conference held in Ho, during his opening address on the theme ‘Positioning Rural Banking at the Centre of Financial Services Delivery in Ghana – the Role of Stakeholders’. He encouraged the CEOs to constantly deploy strategies to prevent their assets from deteriorating and forestall the banks sliding into distressed status by picking lessons from the two-day conference. He further advised the CEOs to be strategically minded going into the future, by providing the right leadership for thriving RCBs. “Armchair management should give way to aggressive business development. Let us chase the businesses, especially the medium, small, micro and individual businesses in the communities where we operate. The old ways of doing things must give way to aggressive business development programmes,” he stressed. He reminded rural bank CEOs that it is incumbent on them to take time to understand their financial and prudential ratios so that they can provide adequate guidance for the boards to make timely decisions when things are going wrong. Appreciating the ratios is the only way to deploy preemptive strategies to ensure rural banks continue to remain strong, as well as ensuring the maintenance of affordable pricing so as not to drive away prospective customers. “In spite of the challenging economic environment, let us be reminded that our products and services’ pricing should be affordable enough to encourage and entice the majority of Ghanaians to do business with us. If our prices are too high, we risk driving away our esteemed customers,” he said. He again indicated to the CEOs that the ARB Apex Bank is doing everything within its power to retrieve locked-up funds, even though a lot of work has already gone into pursuing repayment of the locked-up funds. “We still have not been successful at getting the monies paid. We are aware of how these unpaid funds continue to affect your operations. It is unfortunate to say that several attempts made by ARB Apex Bank and the Association of Rural Banks to realise the funds are paid have been unsuccessful. We have engaged the Securities and Exchange Commission (SEC), NTHC and other key institutions, but our efforts have not yielded positive results. ARB Apex Bank will be engaging further with the Association of Rural Banks so we can make an official representation to the Ministry of Finance,” he said. President of the Volta and Oti Chapter of the Association of Rural Banks, Larry Kwesi Jiagge, in his welcome address called on the Bank of Ghana to help retrieve locked-up monies from the Securities and Exchange Commission (SEC)-regulated institutions to shore-up the activities of RCBs. He pleaded with the Second Deputy-Governor to use her good offices and the weight her position carries to help RCBs retrieve their locked-up funds from the Securities and Exchange Commission (SEC)-Regulated institutions. “The locked-up funds are seriously affecting the operations of RCBs. Governor, please help us retrieve the funds to help shore-up the liquidity and financial strength of our banks,” he stressed.