Dr. Bawumia commissions the edifice
Vice-President Mahamudu Bawumia has inaugurated the first North East Region branch of the Ghana Commercial Bank (GCB-Bank) in Nalerigu, the North East capital.
The opening of the bank marked a historic moment in Nalerigu, as the fast-developing northern town also got its first-ever bank. The branch is also GCB Bank’s 185th branch in the country.
Speaking during the commissioning of the bank in Nalerigu on Tuesday, Dr. Bawumia said the historic opening of the GCB Bank in Nalerigu was one of the direct benefits of creating the new region by the government of President Akufo-Addo.
He said the governance vehicle the Akufo-Addo government had been deployed to ensure inclusive development for all, regardless of location is decentralisation, adding that the creation of six new regions was accelerating and expanding development to communities, such as the historic opening of a bank in Nalerigu.
“This singular initiative to create six new administrative regions, including the North East region, has not only expanded development but also created a new sense of nationalism and inclusivity,” Dr. Bawumia said.
“In the North East region, for example, we have seen how the creation of the new regions has brought a renewed focus, and many developmental projects are being executed in the region. The establishment of the first branch of the Ghana Commercial Bank in the North East Region is one of such developments that decentralisation brings,” he stressed.
Sound economy
The Vice-President also noted that a well-functioning financial system, like the GCB, is fundamental to a modern economy, noting that the opening of the bank in Nalerigu would boost economic activities, as it will offer financial solutions to petty traders and farmers within Nalerigu and surrounding communities.
“They (banks) allocate funds from savers to borrowers to maintain the pulse of our economy. If banks fail to perform, the economic consequences are far-reaching and severe. When they succeed, the opportunities are endless,” Dr. Bawumia added.
“From today, the petty trader and smallholder farmer in Nalerigu and its catchment communities will have access to a range of financial solutions because GCB is here,” he said.
The Vice-President commended GCB Bank for the decision to establish a branch in Nalerigu, and he also urged them to consider opening branches in districts without banks in the country.
On behalf of the President and the government, Dr. Bawumia also congratulated the Board, Management and Staff of GCB Bank on the bank’s 69th anniversary.
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