By News Desk
In its bid to position the bank for grow by leaps and bounds, the Ministry of Finance has injected GHc2.5 billion Ghana Cedis capital into Consolidated Bank Ghana Limited.
The provision makes the bank stand ready to meet virtually all of its financial obligations and liquid to discharge its core mandate of financial intermediation without any challenges.
“It is therefore ideally positioned to continue its growth trajectory and most important to continue to make a positive impact on the economy,” a statement from the bank noted.
At a press conference, yesterday, to highlight the bank’s achievement since its incorporation some five years ago, the Managing Director and Chief Executive, Daniel Addo, indicated that “In the immediate future, CBG would deepen investment in digitization, upscale support to SMEs, further prioritize customer service, and operational efficiency. The overriding ambition is to build market leadership in SME financing while building a resilient institution.”
CBG would also, this year, embark on agriculture projects within its scope.
Already, the Bank achieved significant milestones, including building cutting-edge technology platforms, impactful lending and achieving leadership in SME finance in 2023.
In the SME sector, for instance, CBG played a pivotal role, providing GH$1.6 billion in loans to over 5.600 businesses, introducing innovative programs such as the ‘CBG SME Adesua Series; and optimizing loan processing for swift access.
The initiatives in the SME sector earned the bank various awards including the ‘Euromoney Award for SME Market Leadership’ in 2022 and 2023.
Also, in the Corporate and Institutional Banking segment, CBG participated in loans totaling GH$ 2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism and agriculture.
The Bank’s commitment to community impact is evident through various CSR initiatives, which focused largely on health and education.
