Telecel Ghana SME Head Urges Stronger Rural Banking Participation

Telecel Ghana is advocating for a concerted national effort to move beyond simply providing financial access in rural areas to ensuring that Ghanaians actively participate in and benefit from available financial services.

Alfred Neizer, Head of Small and Medium Enterprises (SME) at Telecel Ghana, commended Rural and Community Banks (RCBs) for their longstanding role in extending financial services to underserved communities. However, he stressed the need for increased adoption and utilization of these tools to fuel further growth.

Mr. Neizer made these remarks at the 10th Rural Banking Week Celebration and 2nd Association of Rural Banks Women’s Conference held in Ho, under the theme “Driving Sustainable Financial Inclusion and Good Governance through ESG Principles.”

“You are the unsung heroes bridging rural ambition with equal banking opportunity. But as we all know, financial inclusion goes beyond access. Our next goal must be ensuring people understand, trust, and benefit from the financial services you offer,” he said.

According to the 2022 Composite Financial Inclusion Index cited by Mr. Neizer, while access to formal and semi-formal financial services in Ghana has risen to 96 per cent (as reported by the Ministry of Finance), only 53 per cent of Ghanaians actively use the financial tools available to them.

“Access without usage is unfinished work, and low financial literacy remains a major barrier,” Mr. Neizer explained. “We must tackle this problem together by pairing rural banking with practical financial education to deepen usage and inform the masses on the financial products available and how they can benefit their lives and businesses.”

The Association of Rural Banks (ARB), representing 147 banks and over 800 service outlets, plays a crucial role in serving rural communities, including farmers, traders, cooperatives, and micro-enterprises.

The annual Rural Banking Week is organized by the ARB to highlight the importance of rural and community banks in promoting financial inclusion, rural development, and poverty reduction nationwide.

The Ho celebration was attended by the Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu.

Mr. Neizer also showcased Telecel Ghana’s SME products, designed to empower rural enterprises with communication tools and a digital presence. He specifically mentioned the “Telecel Women in Business” initiative aimed at supporting female entrepreneurs in underserved areas.

He emphasized the pivotal role women play in rural value chains, stating, “Women, especially in rural economies, remain the backbone of micro-enterprises. From agribusiness to market trading, they dominate entire value chains. True inclusion requires intentional investment in the full participation, growth and leadership of women in the rural banking space.”

Mr. Neizer concluded by urging collaboration between rural banks, policymakers, development partners, and private sector companies like Telecel to create sustainable financial ecosystems that leave no one behind. “If we work together, we can build a financial ecosystem where no person or community is left behind,” he added.

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