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Home Business Absa Bank Donates GH¢150k to Support Kantamanto Traders Affected by Devastating Fire

Absa Bank Donates GH¢150k to Support Kantamanto Traders Affected by Devastating Fire

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Devastating Blaze Ravages Kantamanto Market
Devastating Blaze Ravages Kantamanto Market

Absa Bank has reaffirmed its dedication to supporting Ghanaian small businesses by contributing GH¢150,000 to aid traders impacted by the catastrophic fire at Kantamanto Market on January 2.

The bank’s donation consists of GH¢100,000 in cash and GH¢50,000 worth of roofing sheets, aimed at helping the traders rebuild their businesses and recover from the devastating loss.

The donation was presented in a brief ceremony at the Kantamanto Market, attended by officials from Absa Bank, as well as representatives from all the trading associations in the market. During the event, Kobla Nyaletey, Executive Director of Retail and Business Banking at Absa Bank Ghana, expressed his heartfelt sympathy for the traders and emphasized the bank’s commitment to providing proactive support in the wake of the disaster.

“We understand the difficult circumstances the traders find themselves in and are determined to help them recover,” Nyaletey stated. In his remarks, he outlined three key initiatives to assist the affected traders: a financial donation of GH¢150,000, access to loans at a reduced interest rate of 10 percent, and the establishment of an Absa presence within the Kantamanto Market to facilitate smoother financial transactions.

Audrey Abakah, Director of SME, Agency Banking, and Partnerships at Absa Bank, also reiterated the bank’s commitment to helping small businesses thrive. “As a bank that cares and seeks to empower Africa’s tomorrow, we felt compelled to offer support not only through this donation but by providing innovative financial solutions to help the traders rebuild and sustain their businesses,” Abakah said.

Dr. Joseph Obeng, President of the Ghana Union of Traders Association (GUTA), expressed deep gratitude to Absa for its swift and generous intervention. “We thank Absa for listening to our cry and coming to help us. Absa has once again proven to be a true friend of traders. The support they have given us today reflects the integrity of the bank, and we assure them that the funds will be used exclusively for rebuilding Kantamanto,” Obeng remarked.

This timely gesture from Absa Bank has been widely praised as an important lifeline for the traders, who are now focused on restoring their businesses and getting back to work. The bank’s support demonstrates its ongoing commitment to the growth and resilience of small businesses across Ghana, especially during times of adversity.

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