The Ahanta West Municipal Assembly in the Western region, is concluding a strategic partnership with Ahantaman Community Bank to enhance the Assembly’s revenue mobilisation.
The partnership which is set to be concluded by the end of April will at the initial stages target market toll collections across the municipality.
By this arrangement, the assembly will no longer require the services of persons contracted or hired by the assembly to collect these tolls. Beside guaranteeing efficiency and transparency with toll collections, Municipal Chief Executive for the area, Ebenezer Kofi Aidoo believes the partnership will enhance revenue mobilisation for the assembly.
“We are currently in talks with the bank, and by the end of April the assembly will no longer be responsible for the collection of market tolls. The bank will do that on our behalf,” he elaborated in his address during the 38th Annual General Meeting of the Ahantaman Community Bank held at Apowa, Takoradi.
Consequently, the bank has dedicated its resources to finance local contractors undertaking infrastructure projects under the District Assembly Common Fund initiative.
“We made sure that our local people take up contracts with the assembly for various projects.
“As we speak Ahantaman is resourcing contractors on all of our DCAF projects,” Mr Aidoo disclosed.
Commending the bank for being a responsible corporate partner in the development of the assembly, the MCE took the opportunity to appeal for support in renovating and constructing classroom infrastructure for some identified 228 schools in the municipality.
Paramount Chief for Lower Dixcove, Nana Kwesi Agyemang IX, who is also a board member of the bank scored that Ahantaman Community Bank has by every measure lived up to the expectations of the people and the purpose for which it was established.
As a pioneer of the bank, he believes the reforms and investment made by the bank will reposition it as a leading micro-financial institution in Ghana.
Recounting the bank’s performance over the past half decade, Board Chairman, Rt. Rev. Daniel De-Graft Brace scored that “2025 was a challenging one.”
The challenges, he noted, were mainly as a result of the Domestic Debt Exchange Program (DDEP), exchange rate volatility and change in political leadership.
The bank’s resilience and management decisions adopted during the period, he noted overturned an estimated loss of GH3 million into a GH76 million profit.
The Board Chairman commended the Chief Executive Officer, Benjamin Afful-Eshun for the feat, and also for transforming the bank into its current state in a rather competitive industry.
The bank’s CEO is due for retirement by mid 2026. Benjamin Afful-Eshun has been acknowledged for driving technological innovation, systemic, institutional and financial growth, all of which the board admits contributed to the qualification of the bank as an Urban Community Bank, per the Bank of Ghana’s Revised Microfinance Sector Framework.
For the year 2025, Ahantaman Community Bank made a profit after tax of GH26,651,839.00, a 90.4% growth from the previous year.
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