The Drobo Community Bank in the Jaman South District, as part of its social responsibility, has instituted a scholarship scheme for needy but brilliant students in senior secondary school.
To qualify for the award, which is tenable in any senior secondary school in the Brong Ahafo Region, the beneficiary student must show
consistent good academic performance while the parent must be a shareholder of the bank with at least a share value of GH¢20.
Mr Anthony Elliot Badu-Gyapong, Acting Manager of the Bank, told the Ghana News Agency that since its commencement in 2003/2004 academic year, 22 students had so far benefited from the scheme currently estimated at GH¢360 per student beneficiary per year and covering boarding and lodging fees.
Initially, he said the bank paid GH¢200 per student per year but this was increased in view of the increasing cost of living.
Mr Badu-Gyapong said the bank decided at its Annual General Meeting this year to increase the number of beneficiaries to five in the 2010/2011
academic year.
An unspecified number of the beneficiaries are now said to be in the university or tertiary institutions while others are in gainful employment.
Asked how the scheme was being funded, Mr
Badu-Gyapong said the bank took a decision to transfer five per cent of its profit to support its continuous operations.
Apart from the scheme, the bank has also formed a cadet corps for students of Drobo Senior High School, with some of its products now in the
Ghana Armed Forces.
Mr Badu-Gyampong, urged past and present beneficiaries of the scheme to provide the bank with their personal contact addresses to facilitate regular monitoring of their performance.