The Ghana Union of Traders Association (GUTA) on Wednesday said it supported the Agricultural Development Bank (ADB) intended stock market flotation, as this would raise capital for business expansion, and foster positive growth prospects.
“Banking is very important to us traders and businessmen. This is a proactive step and we support wholeheartedly any move that would ensure the efficiency of ADB bank,” Mr George Kwaku Ofori, President of the GUTA told the media after a stakeholder consultation between the association and the bank’s management in Accra.
ADB is gearing up to list on the stock exchange to raise over GHC 300million to recapitalize and revamp the operations of the bank to make it distinctively relevant to all sectors of the economy, and as a result the bank is consulting with all stake holders to enable them appreciate the outlook of the bank and its quest to become a top-notch competitor in the workings of the banking sphere.
Mr Ofori said they had had fruitful deliberations with the management of the bank, adding that GUTA was happy about the Bank including in their operations the Small and Medium-Scale Entrepreneurs (SME) banking module that would enable them assess credit to grow their businesses.
“It is an ideal situation that the bank is consulting with us and getting our input in the improvement of the bank’s portfolio of services. We are looking forward to better and enhanced services as the bank seeks to improve the profitability of its operations.
“We all (Ghanaians) own this bank, and it must be efficient. Efficiency is what we want as business people and we would buy into any efficient financial institution.”
Source: citifmonline
