Amenfiman Rural Bank rolls out credit relief package for Adum fire victims

The Bank has allocated GH₵35 million in loans. This funding is for over 300 customers who lost their shops in a fire.

Dr. Alexander Asmah, CEO of Amenfiman Rural Bank, announced the loans. Interest rates have been reduced by 400 basis points, or four percent. Beneficiaries will also receive a three-month moratorium on repayments.

During his visit to the affected traders, Dr. Asmah shared details about the relief packages. He noted that many victims had unique challenges after the fire. Some needed immediate financial support, while others required help with new shops or trade agreements.

The Bank's Donkomi Promo offers collateral-free loans. The usual 20 percent cash lien requirement has been waived for those who lost everything.

Amenfiman Rural Bank also donated GH₵200,000 to support all fire victims. Dr. Asmah emphasized that assistance extends beyond existing customers. New clients can access similar concessionary terms if they need help.

To facilitate this process, a dedicated help desk is set up at the Adum branch. This ensures efficient support for applicants seeking assistance.

Regarding stock losses, Dr. Asmah mentioned many traders had stock insurance through the Bank’s loan program. The Bank is working with insurance companies to process claims for these victims.

He encouraged all traders to secure stock insurance for future protection. Currently, over 100 of the affected customers had some form of coverage.

Joseph Bobie Ansah, Chairman of the United Traders Association, expressed gratitude on behalf of the affected traders. Many other traders also praised Amenfiman Rural Bank for its timely support during this crisis.