Nandom Community Bank has boosted its total assets to GHS 81.83 million. Despite this growth, stakeholders are urging an immediate injection of capital from shareholders. The bank must meet the Bank of Ghana's GHS 5 million minimum capital requirement by December 2026.
This critical call for recapitalisation emerged during the bank's 44th Annual General Meeting. The institution reported a profit before tax increase from GHS 1.71 million in 2024 to GHS 2.10 million in 2025. It also achieved an impressive loan recovery rate of 93.67 percent. Firmino Bergyire Aasoyir, Board Chairman, highlighted the need for aggressive capital mobilisation to avoid regulatory sanctions.
This situation reflects a broader drive by the Bank of Ghana to shore up the country's financial institutions. The central bank introduced new capital requirements to strengthen the banking sector. Rural and Community Banks across Ghana have been working to meet these revised thresholds. This measure aims to enhance resilience and ensure the safety of depositors' funds. Ghana’s banking sector has undergone significant reforms in recent years.
ARB Apex Bank's Wa Branch Manager, Fred Tweneboa, underscored the urgency of the capital deficit. Nandom Community Bank's stated capital is currently GHS 2.1 million. This leaves a significant gap to reach the GHS 5 million regulatory minimum. Tweneboa warned of potential regulatory sanctions and operational limitations if the bank fails to close this deficit. Nandom Municipal Chief Executive, Anthony Ziniel, expressed concern over the board's decision to declare GHS 159,000 in dividends. He suggested these funds could have gone towards the capital gap. Ziniel urged residents to buy shares to support the local bank.
The bank's ability to recapitalise will shape its immediate future and its role in the local economy. Meeting the GHS 5 million threshold will secure its operating license. Failure could lead to severe interventions or even closure. The local community's investment in shares becomes crucial for the bank's survival. Its future operations will directly impact access to credit for local businesses and farmers. Decisions made in the coming months will significantly affect its ability to serve the Nandom municipality. The new 24-hour economy market planned for Nandom also presents a growth opportunity.
Richard Wullo, Wa West District Chief Executive, appealed for lower lending rates from the bank. This request aligns with recent drops in national inflation. Lower rates would support local farmers and small and medium-sized enterprises (SMEs). Abdul-Sallam Bamie, CEO of Sunzele Community Bank, also called for unity among community banks. He encouraged share purchases to navigate ongoing microfinance reforms. Paramount Chief Naa Professor Edmund Nminyem Delle Chiir VIII expressed optimism for Nandom's future. He called for community unity to attract future projects. These combined efforts could help the bank recapitalise and thrive.