The initiative forms part of efforts to restore degraded lands and protect the environment from further destruction caused by illegal mining activities.

The stakeholders have set an ambitious target to reclaim about 100 acres of devastated land within the next six months.

The exercise is expected to restore vegetation cover, improve soil quality, and make the land suitable for productive use, particularly farming.

The Municipal Chief Executive for Atwima Kwanwoma, Grace Asamoah Agyeman, upon assuming office, established a dedicated committee to oversee the reclamation of all abandoned galamsey pits across the municipality.

The committee, together with officials from the Minerals Development Fund and Danmark Prime, recently toured some of the affected sites at Nweneso II to assess the progress of work already underway.

Chairman of the Committee, Opoku Bediako Kinston, said the ultimate goal is to ensure all degraded lands within the municipality are fully restored.

He stressed that the committee is committed to holding individuals responsible for the destruction accountable.

“The committee is working tirelessly to ensure that all persons who degraded the land through galamsey take responsibility for reclaiming it. We have started from Nweneso, but it will not end here. Every community affected by illegal mining will have its land restored,” he stated

He further cautioned illegal miners against returning to destroy reclaimed lands, warning that offenders would face the full rigours of the law if apprehended.

The District Environmental Officer, Ernest Boakye, expressed optimism about the success of the initiative, noting that with collective commitment, all degraded lands could be restored.

“This is a very important intervention that will benefit the entire municipality. We urge residents to support the exercise so we can restore our environment.

After reclamation, these lands can be used for farming and other productive activities,” he explained.

Danmark Prime Company Limited and the Minerals Development Fund are providing financial and technical support for the project. The Operations Manager of Danmark Prime, Mr. Robert Dambo, said the company’s involvement aligns with the government’s environmental restoration agenda.

“Government is not against mining, but it must be done responsibly. When mining is done properly and the land is reclaimed afterwards, it helps restore vegetation and protect the environment. We are committed to supporting the Assembly to reclaim all abandoned galamsey lands and plant trees to fully restore the ecosystem,” he said.

The reclamation exercise is expected to significantly improve environmental conditions in the municipality and restore hope to communities whose farmlands and water bodies were destroyed by illegal mining activities.

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The current price will be maintained for existing shareholders over the next eight months.

According to the Bank, the increase reflects the value it has created over the years. Despite the 100% hike, management believes the intrinsic value of the shares exceeds the new pricing.

Chief Executive Officer, Samuel Bonsu Sekyere, emphasized that the new pricing was determined with their target market in mind.

“Given the industry in which we operate, we had to consider the general environment before adjusting the price. If not for the nature of our industry, the value would have been far higher than what we are proposing now,” he stated.

With this increase, the Bank expects improved liquidity from share sales, which will positively impact operations.

The Bank of Ghana has set a minimum capital requirement of one million cedis for rural banks. With this increase, Atwima Kwanwoma Rural Bank is in a stronger position to meet any future capital requirements.

“The Bank has met the indicators set by the Bank of Ghana, and we have indications that in the near future the Bank of Ghana will raise the minimum capital requirement for rural banks,” Mr. Sekyere added.

Profit and Dividends

At the 42nd Annual General Meeting, the Bank reported a profit before tax of 54.4 million cedis in 2024, up from 24.7 million cedis in 2023 representing a growth of 120.32%.

Consequently, profit after tax rose from 17.1 million cedis in 2023 to 37.6 million cedis in the year under review.

As a result, the Bank of Ghana has approved the payment of dividends for the year. The Board has proposed a 40% return on investment, representing 0.20 cedis per share.

“In total, 18,429,175 ordinary shares qualify for the dividend as of the register closure on September 24, 2024, amounting to GHS 3,685,835.00,” announced Board Chairman Mr. Kwame Kyei Kusi.

By the end of the 2024 financial year, the Bank’s total deposits stood at 592.1 million cedis, up from 378 million cedis the previous year, an increase of 56.64%.

The investment portfolio also grew to 500 million cedis in 2024, representing a 67.93% increase.

Loans granted to clients rose to 102 million cedis from 76 million cedis, marking a 33.43% increase.

Atwima Kwanwoma Rural Bank has exceeded the Bank of Ghana’s one million cedis stated capital requirement by over 300%.

By the end of 2024, the Bank’s stated capital had increased to GHS 4,973,549, up from GHS 3,929,712 the previous year.

Corporate Social Responsibility and Future Outlook

Following the increase in profit margins, the Bank expanded its investment in its catchment area. A total of 212,000 cedis was invested in health, education, security, agriculture, and other social needs contributing to development in the local communities.

To enhance service delivery, the Bank has initiated the construction of a modern office for its Old Tafo Branch.

“The property, a plot of land, was acquired last year as part of the Bank’s strategic plan to build and relocate the Old Tafo Branch to a more spacious facility. The current premises can no longer accommodate our growing customer base, leading to congestion and discomfort for both customers and staff,” Mr. Kyei Kusi explained.

“We are also exploring another location within Kumasi or Greater Kumasi, preferably Suame, to open a new branch and bring our services closer to the people in that community,” he added.

Source: Nana Yaw Gyimah

“It’s a woman’s time,” she declared, expressing her confidence in bringing change.

Speaking on Asempa FM’s #Ekosiisen constituency watch series, Mrs. Asamoah said the December elections will bring a shift in leadership.

“I believe 2024 is going to bring change. The NPP was given a chance, but this time, the people are ready to give it to a woman” she said.

Mrs. Asamoah criticized the current state of development in the constituency.

Having served as a branch Secretary and being actively involved in the party for a long time, the NDC PC believes she is well-prepared to take on the role of an MP.

“I have what we call Obaatampa projects that support the aged and everyone in the constituency. When it comes to education, I will help students get placements in schools,”

She also stressed her commitment to lobby for developmental projects if elected as MP.

“I will do more when I become the MP,” she stated confidently.

Mrs. Asamoah therefore urged the people to vote massively for her in the December polls.

“When voted into power, I will definitely make things change for the better,” she assured.

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Speaking on Asempa FM’s #Ekosiisen constituency watch series, Mr. Manu, who is also the Deputy Defence Minister and current MP, stressed his commitment to development.

“As an MP, I don’t discriminate. I help everyone,” he said.

He noted that, his efforts have been recognized by both parties, with even the NDC campaigning for him.

“I know what I am talking about,” he said, indicating his broad support base.

Mr. Manu reflected on his long journey and expressed confidence in his track record.

“It took me about 12 years in the wilderness before reaching where I am now, and I don’t take anyone for granted. My records are there for everyone to see. It’s not about whether you are a man or a woman; it’s about development” he said.

He also disclosed specific achievements, including improvements in toilet facilities and water systems in the constituency.

“I have shared my Common Fund across every electoral area for development,”

The NPP MP promised further initiatives, including distributing free fertilizer to farmers.

“I will continue to work for the people and ensure they have the tools they need,” he stated.

He contrasted the NPP’s achievements with those of the NDC.

“The NPP has done more social interventions than the NDC. That’s why they should vote for us to continue our good work. The NDC don’t know what to do and won’t do anything for the people. Vote for the NPP to keep up the progress” he added.

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Speaking on Asempa FM’s #Ekosiisenconstituencywatch series, he noted that significant progress has been made on road development, with about 80 percent of the roads now complete.

In his view, the district has become a key residential area in the Ashanti Regional capital, Kumasi.

“We are enjoying state-of-the-art roads,” he remarked.

In the health sector, Mr. Karikari said they have built an ambulance bay which is a “major improvement in our healthcare services”.

While acknowledging that there are still some challenges, the DCE said compared to other governments, they have done extremely well.

“There are issues, but we believe that this government has done well,” he stated.

Mr. Karikari therefore challenged the opposition National Democratic Congress (NDC) to present their achievements for comparison.

“We have made massive strides in development in this constituency. Bawumia is committed to delivering for Ghanaians and will not lead them astray” he said.

DCE FOR ATWIMA

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The MP emphasized that such actions would undermine the government’s efforts to combat illegal mining, which is causing significant damage to the environment and water bodies throughout the country.

Addressing the fourth session of the District Assembly, Mr Amankawah-Manu cautioned influential individuals, including chiefs, politicians, and assembly members, who are supporting illegal mining to refrain from such unpatriotic activities.

He stressed that irrespective of one’s status, the law would take its course for anyone involved in destroying the ecosystem through illegal mining.

Illegal mining has been a major concern in the country, with widespread pollution of water bodies and destruction of natural resources.

The MP expressed his dismay at the lackadaisical attitudes of security agencies in the district towards the fight against illegal mining and called on them to step up their efforts to protect the environment.

Mr Amankwah-Manu advised those interested in mining to follow the proper procedures and register with the appropriate bodies to ensure their activities are regulated.

He also made it clear that he does not have the authority to release impounded excavators and urged individuals seeking such assistance to stop approaching his office.

Regarding the poor road conditions in the district, the MP assured constituents that the government is committed to fixing the roads, with some projects already awarded on contract.

He urged contractors to deliver quality work and avoid unnecessary delays. Additionally, he announced ongoing consultations with stakeholders to terminate the contract of the contractor responsible for the unsatisfactory work on the Twedie-Foase stretch.

Mr Amankwah-Manu reiterated his commitment to lobbying for development projects in the district and urged constituents to remain calm.