GOMOA RURAL BANK TO RAISE CAPITAL BASE (PAGE 22)

THE Gomoa Rural Bank Limited is to raise its capital base through the sale of additional shares to meet the requirement of the Bank of Ghana (BoG).
A resolution to that effect was adopted at its 27th annual general meeting of the bank at Apam, where shares were floated for sale to the board of directors, shareholders and the general public.
Through the sale of shares, the bank is expected to raise GH¢44,000. The bank has already ploughed back from its own resources an amount of GH¢56,000 to offset part of the shortfall.
Speaking at the meeting, the Chairman of the Board of Directors, Mr Andrew B. Simpson, said the bank computerised its operations during the re-denomination exercise, adding that additional computers would be needed to complete the computerisation process.
He commended the staff and customers of the bank for their co-operation which contributed to its success.
Mr Simpson advised shareholders and customers to patronise the share sales to sustain the operations of the bank.
The Manager of the Accra branch of the ARB Apex Bank Limited, Mr Seth Ankrah, who read a speech on behalf of the Managing Director of the bank, Mr Eric Osei-Bonsu, urged rural and community banks to set up an internal audit unit as part of their management structure to enable them to oversee the implementation of the bank's systems and controls and report directly to the board.
Reverend Peter Ohene Ansah, an Assistant Director of Education, was elected as a member of the Board of Directors to replace Mr Robert Mensah whose term of office expired.