The focus of the Rural and Agricultural Finance Program (RAFiP) is on the rural banking sector (RCBs and the ARB Apex Bank). It is designed to strengthen institutional performance, outreach, and client orientation in all segments of the rural financial system. It also seeks to integrate rural financial institutions more closely with each other and with the financial system as a whole and link those to support systems (particularly related to technical issues and risk management of agricultural value chains). The specific objective is to improve the rural and agricultural population’s access to sustainable financial services through enhanced outreach, sustainability, and linkages.
(a)In a note form, briefly indicate the components and activities of the Rural and Agricultural Finance Program (RAFiP)
(b)To help address the challenges of supervising RCBs, a law enacted in 2006 allowed the Bank of Ghana to delegate some of its supervisory functions to the Apex Bank. State in a note form the functions of the supervisory functions to the Apex Bank
(c) What in your opinion has accounted for the low public confidence n the Rural Banks?
(d) What strategies would you recommend to systematically address this situation?