ARB Apex Bank Advances Financial Sector Development Project Goals

Curtis W. Brantuo, the Deputy Managing Director of ARB Apex Bank PLC, has expressed optimism about achieving the World Bank’s Financial Sector Development Project (FSDP) goals in collaboration with Rural and Community Banks (RCBs) nationwide. In this post, we’ll delve into the details of the FSDP, the initiatives being implemented by ARB Apex Bank, and the potential impact on financial sector development in Ghana.

Details of the Financial Sector Development Project

The Financial Sector Development Project aims to promote financial sector soundness and increase access to financial services for individuals in Ghana. The project is expected to conclude in June and is focused on enhancing the efficiency and inclusivity of the financial sector.


Initiatives Implemented by ARB Apex Bank

Under the FSDP, ARB Apex Bank is the implementing agency for various digital banking solutions designed for RCBs. Some of the key initiatives highlighted by Mr. Brantuo include:

  1. USSD Banking Platform: Approximately 37,000 customers are already utilizing the USSD banking platform for various transactions, including balance inquiries, mini statements, intra and inter-RCB transfers, transfers to commercial banks, and account-to-wallet and wallet-to-account transfers.
  2. Deposit Mobilisation Solution: A deposit mobilization solution for RCB mobile bankers has been finalized, with ongoing setup to onboard RCBs interested in purchasing Point of Sale (PoS) devices for this purpose.
  3. Agency Banking: The User Acceptance Test (UAT) for Agency Banking has been completed, and the solution has been moved to the live environment to prepare for deploying pilot agents. Approximately 935 agent forms have been received from various RCBs for the pilot program.
  4. Mobile and Internet Banking: The development of mobile banking applications is completed, and the UAT has begun. ARB Apex Bank is currently in the process of developing an Internet banking solution.

Impact and Future Outlook:
Mr. Brantuo emphasized the importance of the successful implementation of the FSDP initiatives, highlighting their potential to generate revenue and retain customers for RCBs. He called for support from the chief executive officers of the various RCBs to provide the required information to the project implementation team at ARB Apex Bank for the timely deployment of all solutions.


ARB Apex Bank’s efforts in advancing the Financial Sector Development Project goals are commendable and indicative of a proactive approach to enhancing financial sector inclusivity and efficiency in Ghana. As the implementation of these digital banking solutions progresses, it will be crucial to monitor their impact on financial access and customer satisfaction among RCBs and their customers.