Home Business Investments CBG Grants GH₵1.6 billion Loans to 5,600 SMEs

CBG Grants GH₵1.6 billion Loans to 5,600 SMEs

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Consolidated Bank Ghana
Consolidated Bank Ghana

Consolidated Bank Ghana Ltd (CBG) has advanced GH₵1.6 billion in loans to over 5,600 businesses since inception five years ago.

In the corporate and institutional banking segment, CBG participated in loans totaling GH₵2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism, and agriculture.

To position the bank for further growth, and to restore balance sheet resilience, the Ministry of Finance (MoF) recently provided GH₵2.5 billion capital to the bank.

Managing Director of CBG Mr Daniel Wilson Addo, announced these at a press conference to celebrates five years of market relevance.

To fuel further growth and bolster the bank’s balance sheet resilience, the Ministry of Finance (MoF) recently injected GH₵2.5 billion capital into the bank.

Managing Director of CBG, Mr. Daniel Wilson Addo, revealed these developments at a press conference held to celebrate the bank’s five years of market relevance.

He emphasized that CBG is in a robust financial position, being solvent and liquid, enabling it to fulfill its core mandate of financial intermediation without challenges.

He highlighted the bank’s commitment to sustaining growth and continuing to make a positive impact on the economy.

The Managing Director credited CBG’s success to innovative programmes such as the ‘CBG SME Adesua Series’ and streamlined loan processing for swift access.

Significant milestones include the implementation of cutting-edge technology platforms, impactful lending, and leadership in SME finance.

CBG’s dedication to the community is evident through various Corporate Social Responsibility (CSR) initiatives, particularly in health and education.

Mr. Addo noted that the bank’s initiatives in the SME sector garnered recognition, earning prestigious awards like the ‘Euromoney Award for SME Market Leadership’ in both 2022 and 2023.

Looking to the future, Mr. Addo announced CBG’s commitment to deepening investment in digitization, providing increased support to SMEs, prioritizing customer service, and enhancing operational efficiency.

The overarching ambition is to solidify market leadership in SME financing while building a resilient financial institution.

As CBG looks back on five years of impactful operations, its leadership sets the course for continued growth, innovation, and a positive contribution to the economic landscape of Ghana.

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