Computerised Accounting in Rural Banking
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INTRODUCING RURAL BANKING TO THE WEST AFRICAN SUB-REGION
JULY, 2009
* INTRODUCTION
The mission of this delegation is to introduce to you the rural banking system which is currently operating very well after 33 years of its introduction.
Other parts of the world, notably the Netherlands and the Philippines have had tremendous benefits out of their rural banking system.
The search for a system to tackle the financial problems of the rural dweller started as far back as the 1960s under the Nkrumah regime. During that period, the need for a veritable rural financial system in Ghana to tackle the needs of small scale farmers, fishermen, craftsmen, market women, traders and all other micro-enterprises was felt. The need for such a system was accentuated by the fact that the bigger commercial banks could not accommodate the financial intermediation problems of the rural poor as they did not show any interest in dealing with these small scale operators.
Attempts in the past to encourage commercial banks to spread their rural network and provide credit to the agricultural sector failed to achieve the desired impact. These banks were rather interested in the finance of international trade, urban commerce and industry. There was therefore a yawning gap in the provision of institutional finance to the rural agricultural sector.
The inability or failure of the commercial banks to lend on an appreciable scale to the rural sector attributed to the lack of suitable security on the part of the rural dweller.
Secondly, the centralised structure of the banking set up
Google automatically generates html versions of documents as we crawl the web.
INTRODUCING RURAL BANKING TO THE WEST AFRICAN SUB-REGION
JULY, 2009
* INTRODUCTION
The mission of this delegation is to introduce to you the rural banking system which is currently operating very well after 33 years of its introduction.
Other parts of the world, notably the Netherlands and the Philippines have had tremendous benefits out of their rural banking system.
The search for a system to tackle the financial problems of the rural dweller started as far back as the 1960s under the Nkrumah regime. During that period, the need for a veritable rural financial system in Ghana to tackle the needs of small scale farmers, fishermen, craftsmen, market women, traders and all other micro-enterprises was felt. The need for such a system was accentuated by the fact that the bigger commercial banks could not accommodate the financial intermediation problems of the rural poor as they did not show any interest in dealing with these small scale operators.
Attempts in the past to encourage commercial banks to spread their rural network and provide credit to the agricultural sector failed to achieve the desired impact. These banks were rather interested in the finance of international trade, urban commerce and industry. There was therefore a yawning gap in the provision of institutional finance to the rural agricultural sector.
The inability or failure of the commercial banks to lend on an appreciable scale to the rural sector attributed to the lack of suitable security on the part of the rural dweller.
Secondly, the centralised structure of the banking set up