Kumawuman Rural Bank Limited was incorporated in October, 1982 as a Rural Banking Institution and has since built a reputation as one of the Best Rural Banks in Ghana. The Bank was established under the auspices of Kumawuman Biakoye Kuo by Kumawu citizens resident in the Greater Accra Area.
The late Nana Akwasi Amoakohene, the late Nana Addae Boamah, Mr. Kwabena Darkwah, Dr. Kwabena Duffuor and Mr. Kwaku Barfi were among the pioneers who worked hard to bring the Bank to Kumawu Traditional Area in the year 1981.
The initial share capital of the Bank was GH¢ 60.40 plus the Bank of Ghana redeemable preference share of GH¢ 12.50 making a total of GH¢ 72.90 before the Bank started operations. Out of the total amount of GH¢ 60.40, Dr. Duffuor and his family contributed GH¢ 20.00, Mr. B. A. Mensah and family GH¢ 10.00 with the remaining amount of GH¢ 30.40 representing the interest of All Other Shareholders.
Nana Akwasi Amoakohene offered the ground floor of his building to be used as a banking hall for some time. After the inauguration of the Board of Directors, the next target was on intensive mobilization. On the official opening day, an amount of
GH¢ 3.80 was mobilised. Members of the Board were challenged to develop the new bank through sacrifice and hard work, consequently, members agreed to forgo their allowances for one year. As the bank did not have its own car, Mr. Adusei Opoku occasionally released his car to be used by the bank for deposit mobilisation.
The Management team found it viable to open first mobilisation centre at Bodomase in 1983. In addition, the following agencies were also opened between 1984 and 2012.
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