Overview

The History of Wamfie Rural Bank dates back to the early1980s when the then Government in power wanted financial intermediation for the rural dwellers. This led to a team of officials from Bank of Ghana led by Mr. E. Asiedu Mante (then Deputy Manager, Rural Bank Department of BOG) now Deputy Governor of Bank of Ghana to tour the District to find out a suitable location for the establishment of a Rural Bank on 9th June, 1980.The team unanimously agreed that the Bank be sited at Wamfie after all feasibility studies had been undertaken. Among the requirements for the opening of a Bank were:

1. Share Capital of ₵125, 000.00 (GHs12.50)

2. Premises for the Bank

3. Residency for the Manager

A committee was formed and met the first time on 19th June, 1980 to mobilize the 125, 000 shares. The members of the committee were as follows:

• Chairman – Late Nana Peprah Agyemang
• Secretary – Mr. Yaw Peprah
• Treasurer – Mr. J.K. Twumasi
• Messrs – Late A.A. Kyeremeh (Kwasi Gyidie) B.K. Kyeremeh Adu Gyamfi Opanyin Michael Adu Yaw

  The late Opanyin Kwasi Kumi and Opanyin Michael Yaw Adu willingly gave their premises for the Bank and Managers Residency respectively. Wamfie Rural Bank was licensed to commence business on 12th March, 1981 while the certificate of incorporation was issued on 18th January, 1984. The official commissioning was performed by Messrs E. Asiedu Mantey and John Boadu on 16th July, 1981. The actual banking business commenced on 17th July, 1981 in a small rented premise at Wamfie.