By: Emmanuel Akayeti
The Builsa Community Bank Limited (BUCO Bank) has organized its 22nd Annual General Meeting at the Azenro Social Centre, Sandema in the Upper East Region. It was held to review 2021, Annual report of the shareholders of the Bank, and elect new Directors in place of those retiring.
The meeting started with uneasy calm as the majority of the shareholders objected strongly to the poll voting system, has never helped them as few people with majority shareholding use it to marginalize the majority with smaller shareholding interests for far too long, and advocated for one man one vote, among others.
In a message delivered by Francis Atintono Vice President on behalf of the President of ARB, Upper East Chapter Cletus Azaabi commended the Bank for the success chalked up over the years, and some of the challenges they have overcome as a Bank so far.
The Vice President lauded them for weathering the storm, staying resilient, and on a course to excellence. Dr. Atintono encourages the Board, Management, and staff, to continue to give their best by improving the quality of services to the customers, improving the quality of the assets with the recovery of loans and advances, intensifying deposit mobilization to generate cheaper and sustainable funds for operations and continue mobilizing shares in order to remain vibrant for the economic well-being of the people.
Addressing the media on the agitation of the issues of the poll voting system by the shareholders, the Head of Legal Department, ARB APEX Bank Mr. Curtis Brantwo explained that, poll voting has been the practice and it’s legal however if there are issues affecting shareholders, the issues could be addressed.
He further explained poll voting that, is a normal practice and it encourages investment and for people to own more shares in the Company, adding that no investor will put more money into a company where things like the poll voting system are not in place.
Mr. Brantwo indicated that shareholders with majority shares manipulating for a leadership position to the disadvantage of others, cannot withstand the test of the Central Bank (CB) because CB actually looks for who really qualifies and can do the work in their scrutiny before approval.
The Municipal Chief Executive of Builsa North Vida Anaab indicated that the existence of BUCO Bank in Buluk is a blessing as it has impacted the local economy through its credit support to Micro, Small, and Medium Enterprises but also contributes to a diverse way in the overall progress in the land of Buluk.
She stated that the Bank has ensured a very high saving and investment culture among the people of Buluk, and their Co-operate Social Responsibility is visible.
