The Maltaaba Community Bank in the Upper East Region has extended its loan support to farmers in the North East region.
This initiative is part of the bank’s vision to grow the local economy of its operating areas and beyond by providing low-interest loans to farmers.
According to Peter Azeko, the Chief Executive Officer of the bank, Maltaba Community Bank has provided low-interest loans to approximately 500 farmers in the North East region.
This significant gesture is expected to empower farmers to expand their businesses and contribute to the region’s economic growth.
Mr. Azeko made these known to Dreamz FM during the Bank’s recent 11th Annual General Meeting (AGM) in the Bongo District of the Region.
In a remarkable display of financial growth, Mr. Azeko announced that the bank exceeded its 2023 target of 35% growth, achieving an impressive growth rate of over 80% in assets and deposits.
- Invitees at Maltaaba Community Bank 11th AGM
Looking ahead, Mr. Azeko expressed optimism about the bank’s future prospects, stating that “The Bank is expecting an additional 40% growth rate in 2025”.
This ambitious target, he said, is a testament to the bank’s commitment to expanding its services and supporting the local economy.
Maltaba Community Bank’s commitment to supporting farmers is crucial, especially considering the challenges faced by smallholder farmers in accessing financial services in the region, and by providing low-interest loans to farmers, the bank is helping to address the financial inclusion gap in the agricultural sector.
Mr. Azeko emphasized that agriculture holds tremendous potential, and supporting farmers is crucial for boosting the local economy of the region and motivating them to continue producing.
