Rural Banks in Ghana have not achieved the goals for which they were established. Discuss this...

Rural Banks in Ghana have not achieved the goals for which they were established. Discuss this statement.

Expert Solution

Answer: In Ghana the rural banks were established originally with an objective of bringing the banking services to the door step of the communities in rural areas and extending their financing support to rural industries. The goal was to provide institutional credit to farmers as well as other rural enterprises for enhancing the living standard and to facilitate Rural Development. The rural economy promotion in sustainable approach has the potential of improving the opportunities of employment in rural areas, stemming pre-mature rural-urban migration, decreasing the regional income disparities and reducing ultimately the poverty at its very source. Moreover the rural areas development can contribute to the preservation of the rural landscape, the protection for the indigenous traditions and cultures while societies in rural areas may serve as a social buffer for the poor people in urban areas in periods of social urban unrest or economic crisis. However majority of the people appear to have relocated to the urban areas and therefore defeating their original goal for which they were established

Rahul Sunny answered 2 years ago

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