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Background of Suma Rural Bank PLC
Suma Rural Bank PLC currently operates within six (6) District and Municipal Assemblies—namely Jaman North District, Jaman South Municipal, Tain District, Bia West District, Bia East District, and Berekum Municipal Assembly, all in the Bono and Western North Regions of Ghana. The Bank’s Head Office is located at Suma Ahenkro in the Jaman North District.
The Bank was established in November 1981 and officially commenced operations on 29th September 1982. Its establishment was spearheaded by the Suma Traditional Council, together with some opinion leaders of Suma, notably Honorable Martin Adane, then Member of Parliament for the former Jaman Constituency.
The idea of establishing the Bank was born out of necessity, as there were no financial institutions serving the northern part of the Jaman Constituency at that time. The only two banks—Ghana Commercial Bank PLC and Co-operative Bank Ltd.—were located in the southern part of the constituency, at Japekrom. This meant that people from the Suma Traditional Area had to travel more than forty-five (45) kilometers to access banking services.
This lack of proximity created several challenges. It discouraged people from saving, made it difficult for teachers and civil servants to accept postings to the area due to the inconvenience of accessing their salaries, and denied cocoa farmers and other crop farmers access to the financial support they needed to maintain and expand their farms.
Since its establishment, the Bank has expanded its reach. Currently, Suma Rural Bank PLC has eight (8) agencies in addition to its Head Office at Suma Ahenkro, with plans to open at least two more agencies within the current strategic plan period. The agencies are strategically located at Sampa and Goka (Jaman North District), Japekrom (Jaman South Municipal), Berekum (Berekum Municipal), and Brodi (Tain District). Additionally, the Camp Agency is located in the Bia East District, and the Elluokrom Agency is located in the Bia West District, both in the Western North Region of Ghana.