Sonzele Community Bank PLC has launched an aggressive share mobilisation campaign to meet the Bank of Ghana's (BoG) new GH₵5 million minimum capital requirement by December 2026 while rewarding its shareholders with a substantial 25.8% dividend payout for the 2025 financial year.

The bank, which currently has a stated capital of GH₵2.28 million, is calling on indigenes, members of the diaspora, and the youth to increase their investments to bridge the capital shortfall and secure the financial institution's future.

Speaking at the bank's 36th Annual General Meeting (AGM) in Jirapa, Board Chairman Michael Zuraih revealed that despite economic turbulence and falling Treasury bill rates, the bank's total assets grew by 19.19% to GH₵84.3 million in 2025.

Outlining the regulator's new directive, Mr Zuraih noted that the BoG now requires all rural and community banks to rebrand.

"The Bank of Ghana has recently issued a directive requiring all rural and community banks in the country to change their names to 'Community Banks' and to increase their minimum stated capital from GH₵1 million to GH₵5 million by 31 December 2026," Mr Zuraih stated.

To mitigate the economic shocks of the COVID-19 pandemic, the central bank had previously halted dividend payments for seven years. However, following a pre-tax profit of GH₵3.7 million in 2025, Sonzele Community Bank secured regulatory approval to reward its investors.

"The Board is proposing a payment of GH₵0.258 per share for the year under review," the Board Chairman announced, representing an impressive 25.8% return on investment.

Reiterating the bank's financial strength, Chief Executive Officer Abdul-Sallam Bamie emphasised that the rebranding from a "rural bank" to a "community bank" is a strategic move aimed at greater inclusivity, particularly to attract younger investors.

"The change to 'Community Bank' is also intended to provide a wider, much more inclusive identity. Because when you say 'rural bank,' it is limiting," Mr Bamie explained. "I don't know where else you can put your money and get about a 25.8% return in just one year, while your share capital in the bank remains intact."

The urgency of the recapitalisation drive drew high-profile political and traditional support at the AGM. Upper West Regional Minister Charles Lwanga Puozuing, who revealed that he is also a shareholder, challenged the people of the region to think beyond the current BoG requirements.

"It is my prayer that by next year, we will all buy shares to enable the bank to grow and become even bigger," the Regional Minister urged. "Maybe one day we will convert it from a community bank into a fully fledged commercial bank once our shareholding and capital increase."

This sentiment was echoed by traditional leaders, who reminded the gathering of the bank's deep roots in the region. Speaking on behalf of the Paramount Chief of Jirapa, Konkuo Naa, Naa Angdelle Haara noted that true banking strength lies in the confidence of the people, not just the size of a building.

"Long before many financial institutions discovered the economic potential of our communities, Sonzele Rural Bank had already laid its foundations here," Konkuo Naa remarked. "Let us honour loyalty with loyalty, and let us continue to uphold and strengthen Sonzele Rural Bank PLC as one of our foremost financial partners in development."

However, the consequences of failing to meet the new capital threshold remain severe. The Wa Branch Manager of ARB Apex Bank, Fred Tweneboa, who spoke on behalf of the Acting Managing Director, Curtis William Brantuo, issued a stern reminder to shareholders about the ticking regulatory clock.

"Failure to bridge the gap within the stipulated timeline may expose the bank to operational limitations, heightened supervisory interventions, or the need to consider alternative strategic options provided under the reform framework," Mr Tweneboa warned.

Local government officials underscored the broader socioeconomic and security implications of a strong local banking sector. The District Chief Executive (DCE) for Nadowli-Kaleo, Mary Haruna, who was the guest of honour, linked sound banking practices directly to community safety.

"The responsibility of recapitalising our community banks rests not only on management and directors but also on every shareholder here who believes in the future of the institution," the DCE stated. "Once you are not sleeping with your money, you will not be the target of armed robbers."

The AGM also highlighted a deep sense of solidarity within the Upper West regional banking fraternity. Fredrick Ahah Diegol, CEO of Lawra Area Community Bank PLC, speaking on behalf of sister community banks, praised Sonzele's financial strength and made a passionate appeal to affluent residents to support other struggling banks in the region to prevent their collapse.

"If we allow two to go down, we will be left with only two giants," Mr Diegol urged. "Don't allow the two struggling banks to go down. Come in your numbers and support us so that we too can stand tall, and together we can be stronger."