Ahanta West Goes Digital,Market Tolls to Be Collected by Bank in Revenue Boost Drive

The Ahanta West Municipal Assembly in the Western Region is set to roll out a major revenue reform through a strategic partnership with Ahantaman Community Bank aimed at boosting its Internally Generated Funds (IGF). The agreement, expected to be finalised by the end of April, will initially focus on digitising market toll collection across the municipality—effectively ending the use of manual collectors. Municipal Chief Executive, Ebenezer Kofi Aidoo, said the move is designed to enhance efficiency, eliminate leakages, and ensure greater transparency in revenue mobilisation. “By the end of April, the Assembly will no longer be responsible for collecting market tolls. The bank will take over that role on our behalf,” he announced at the bank’s 38th Annual General Meeting held at Apowa in Takoradi. Beyond toll collection, the partnership is also expected to drive local economic development, with the bank committing financial support to contractors executing projects under the District Assembly Common Fund (DACF). “We have ensured that local contractors take up Assembly projects, and currently, Ahantaman is providing resources for all DACF projects,” Mr Aidoo revealed. He praised the bank for its strong role in the municipality’s development and appealed for further support, particularly in addressing infrastructure deficits in education, including the renovation and construction of classrooms for 228 schools. Also speaking at the event, Paramount Chief of Lower Dixcove and board member of the bank, Nana Kwesi Agyemang IX, commended the institution for meeting expectations and staying true to its founding vision. He expressed confidence that ongoing reforms would position the bank as a leading microfinance institution in Ghana. Board Chairman Rt Rev. Daniel De-Graft Brace acknowledged that 2025 was a difficult year, citing the impact of the Domestic Debt Exchange Programme (DDEP), currency instability, and political transitions. Despite these challenges, he noted that prudent management decisions helped reverse an estimated GH¢3 million loss into a GH¢76 million profit. He also lauded Chief Executive Officer Benjamin Afful-Eshun for steering the bank through transformation, highlighting his role in driving innovation and institutional growth. Under his leadership, the bank has achieved Urban Community Bank status under the Bank of Ghana’s revised framework. For the 2025 financial year, Ahantaman Community Bank recorded a profit after tax of GH¢26.65 million, representing a 90.4 percent increase from the previous year—underscoring its strong recovery and growth trajectory.