First National Bank Ghana has received a US$20 million loan facility from British International Investment to increase finance options throughout the nation.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

British International Investment (BII), the UK’s development finance institution, has extended a US$20 million loan facility to First National Bank Ghana (FNBG) to expand financing opportunities for micro, small, and medium-sized enterprises (MSMEs) across the country.

The signed agreement is expected to deepen support for businesses that form the backbone of Ghana’s economy.

MSMEs account for over 90% of all enterprises, contribute 60% to GDP, and provide 80% of jobs, yet many, still struggle to access long-term and affordable capital.

Chief Executive of First National Bank, Warren Adams described the five-year loan as a timely intervention that will allow the bank to scale lending to small businesses navigating economic uncertainties, particularly in the commerce sector.

Source: newsthemegh.com