The Agricultural Development Bank PLC (ADB) as part of its corporate strategy has opened a new branch in Takoradi in the Western Region, making it the 87th branch of the bank nationwide.

The new branch located within the Takoradi Market Circle area is in response to the growing business population and heed to calls from customers of the bank for a branch in the area for the convenience of doing business.

At the opening, the Managing Director of the bank, Dr. John Kofi Mensah, said the opening of the new branch was part of the aggressive branch expansion drive of the Bank.

“We are determined to establish our presence in several towns especially the New Regions and also Communities where agribusiness is a core business so as to help inculcate the habit of savings in our citizens,” he said.

Dr. Mensah indicated that the expansion drive was also part of the Bank’s commitment to promoting

financial inclusion by establishing branches closer to them with custom-made made products and services.

According to Dr. Mensah, the new branch has a specialized Trade and Agribusiness Desk to assist in the easy facilitation of loan support for Small and Medium Enterprises within the region.

He reiterated the commitment of the bank to prioritize the agribusiness sector and indicated its readiness to support companies and organisations especially under the government’s IDIF program in the region with loans to expand their business and create jobs.

The Western Regional Minister, Kwabena Okyere-Darko in his remarks commended the bank for its decision to open a branch within the business center of Takoradi and was optimistic it will serve the financial needs of the people.

He further commended ADB for its commitment towards the several government agricultural-based initiatives especially 1D1F, Planting for Food and Jobs, Rearing for Food and Jobs and also the fertilizer subsidy program.

The Essikado Omanhene, Nana Kobina Nketiah V who was the Chairman for the occasion urged the Bank to remain focused on its core mandate of agribusiness financing.

Nana Nketiah V indicated that a growth in the agricultural sector will positively contribute in solving the numerous unemployment problems in the country.

According to him, though the bank has since 2017 refocused on its core mandate of agribusiness financing, they must module special loan packages for the youth for agribusiness.

“Opening a branch, especially in this Market Circle Area means the Bank is making effort to bring banking closer to the ordinary Ghanaians and this I must say is highly commendable,” he said.

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