Telecel Ghana’s Head of Small and Medium Enterprises, Mr Alfred Neizer, has called for a stronger national effort to convert Ghana’s improved financial access in rural areas into deeper and more meaningful financial participation. He said while access to banking services has expanded significantly across the country, actual usage of financial products remains low, especially in rural communities.
Mr Neizer made the call while speaking at the 10th Rural Banking Week Celebration and the 2nd Association of Rural Banks Women’s Conference held in Ho. The event was organised under the theme, “Driving Sustainable Financial Inclusion and Good Governance through ESG Principles.” The gathering brought together rural bankers, regulators, policymakers, development partners and private sector players to discuss ways to strengthen financial inclusion and governance in Ghana’s rural economy.
In his remarks, Mr Neizer praised the long-standing contribution of Rural and Community Banks, RCBs, to financial inclusion in Ghana. He described them as critical institutions that have helped bring banking services closer to people in underserved and remote communities, particularly farmers, traders, cooperatives and micro-enterprises.
According to him, rural banks have played a major role in bridging the gap between urban and rural access to financial services. However, he said the next phase of financial inclusion must focus on helping people actively use and benefit from the financial tools already available to them.
“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,” Mr Neizer said.
He referenced data from the 2022 Composite Financial Inclusion Index, which showed that only 53 per cent of Ghanaians actively use the financial tools available to them. This is despite the fact that access to formal and semi-formal financial services has reached about 96 per cent nationwide, according to figures from Ghana’s Ministry of Finance.
Mr Neizer said the gap between access and usage highlights a major challenge facing the financial sector. He noted that access without usage limits the real impact of financial inclusion on livelihoods, businesses and economic growth. According to him, low financial literacy remains one of the key barriers preventing people from fully engaging with financial products and services.
“Access without usage is unfinished work, and low financial literacy remains a major barrier. 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,” he added.
The Association of Rural Banks, ARB, which organised the event, is the umbrella body for all rural and community banks in Ghana. Established in 1981, the Association serves as the collective voice and coordinating institution for rural banking. It currently has 147 member banks with over 800 service outlets across the country, serving mainly rural populations, including farmers, traders and micro-enterprises.
The ARB organises the Rural Banking Week annually to highlight the role of rural and community banks in promoting financial inclusion, rural development and poverty reduction. This year’s celebration was attended by key stakeholders, including the Second Deputy Governor of the Bank of Ghana, Mrs Matilda Asante-Asiedu, who joined industry leaders to reflect on the future of rural banking.
During his presentation, Mr Neizer highlighted some of Telecel Ghana’s SME-focused products designed to support rural enterprises. He said the company provides integrated communication tools and digital solutions that help small businesses build digital footprints, improve customer engagement and expand their reach beyond local markets.
He also spoke about the Telecel Women in Business value proposition, which targets female entrepreneurs, particularly those in underserved and rural communities. According to him, the initiative is aimed at supporting women-led businesses with tools that can help them grow sustainably in an increasingly digital economy.
Mr Neizer stressed that women play a central role in rural economies, especially in agriculture, trading and small-scale processing. Despite this, he said women often face limited access to credit, leadership opportunities and digital tools that could enhance productivity and business growth.
“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,” he said.
While acknowledging the progress made by rural and community banks, Mr Neizer argued that the responsibility of rural financial inclusion should not rest on these banks alone. He called for stronger collaboration between rural banks, policymakers, development partners and private sector players to build financial ecosystems tailored to the needs of rural communities.
According to him, such collaboration would help address gaps in financial literacy, digital adoption and access to affordable financial products. He said partnerships between telecom companies, financial institutions and regulators could unlock new opportunities for inclusive growth and long-term prosperity in rural areas.
“If rural banks, policymakers, development partners and private-sector players like Telecel work together, we can build a financial ecosystem where no person or community is left behind,” Mr Neizer added.
Participants at the event noted that discussions around environmental, social and governance principles are becoming increasingly relevant to rural banking, as financial institutions seek to balance profitability with social impact and sustainability. They said strengthening governance, improving customer education and leveraging technology would be key to the future of rural finance in Ghana.
As Ghana continues to expand access to financial services, stakeholders say the next challenge lies in ensuring that individuals and businesses are equipped with the knowledge, confidence and tools needed to use these services effectively. Observers say addressing this gap could help unlock the full economic potential of rural communities and strengthen the country’s broader financial inclusion agenda.
