Economic Characteristics

 Services and Industry

The other economic activities are trading and vehicle repairs, administration and social services, manufacturing, hospitality, transport and storage services and construction.  The Municipal Assemblies which have relatively high proportion of their workforce in the trading and transport services are Techiman Municipal and Kintampo Municipal Assemblies.  However, Nkoranza North and Kintampo South District Assemblies have relatively low proportions of their workforce in the trading and transport services.

Tables 7:  Industry of employment (15 years and above) for the Bono East Region, 2014

Source: Ghana Statistical Service, 2013

Industrial development provides foundation for long-term growth and economic transformation.  The predominant industrial establishment in the Bono East Region are wood processing, food processing, cashew processing, sheanut processing, gari processing and fish production with most of these industries located at Techiman, the Regional Capital.

Table 8: Industrial establishment in Bono east Region 2014

Source: Ministry of Trade and Industries/ Factories Inspectorate Department Data, 2014

A number of small-scale processing mills which handle agricultural and forest products (palm nut and groundnut oil, rice mills, fish and gari processing and wood mills) are also scattered throughout the Region.  There are other small scale industrial activities such as textiles (batik, tie and dye) garment and dress making, soap making and metal works.

The females dominate in hospitality services (88.9%), trading 69.6%, manufacturing (64.9%) and human health and social work (52.4%).  The most physical intensive activities such as construction (97.8%) are male dominated (GSS 2013).

The Techiman market is noted for its popularity as the largest food market centre not only in the Region and Ghana as a whole, but in the West African sub-region at large.  The market has made Techiman a commercial centre with brisk wholesale and retail activities involving people from different countries such as Mali, Niger, Burkina Faso, Togo, Cote d’Ivoire etc. Aside Techiman large food market centres exist in Kintampo, Nkoranza, Atebubu, Yeji, and Kajaji.  The availability of market coupled with fertile land for farming account for large migration of people into the Region for settlement and for business transaction as well as employment.

Financial Institutions

The GCB Bank, CBG, adb Bank, NIB, Fidility Bank, Prudential Bank, absa Bank, Republic Bank, Universal Merchant Bank, GT Bank and Omni Bank are the existing commercial banks serving the Bono East Region.  The name and branches of major commercial Banks in the Bono East Region (2019) are depicted in table 10 below.

Table 10: Branches of major commercial banks in Bono East Region, 2019

There are also eight (8) existing Rural, Area and Community Banks in the  Bono East Region, namely: Baduman, Kintampo, Wamfie, Nkoranza, Fiagya, Amantin-kasei, Yapra and Ejuraman.  Apart from serving small and medium scale enterprises or businesses, these rural banks operate in a number of medium-sized settlements in the Region where traditional commercial banks are not operating.

Table 11 depicts the Rural Banks and the communities they are operating in the Region.

Table 11: Agencies of Rural Banks in Bono East Region, 2014

The prominent insurance companies in the Region are Social Security and National Insurance Trust (SSNIT), SIC, UT Life, Star Life and Enterprise Insurance Company.

Other micro financial institutions in the Region include Opportunity International, Multi credit, Pro credit, Bayport Financial Services and Sinapi Aba Savings and Loans and Credit Unions (see table 12)

Table 12: Branches of major micro Financial Institutions in the Bono East Region,  2014

Date Created : 8/18/2023 12:00:00 AM