BII's five-year loan will enable the Bank to scale up support for
MSMEs across Ghana,a sector that plays a pivotal role in economic
growth.
British International Investment (BII), the UK's development
finance institution and impact investor, has provided
a US$20 million loan facility to First National
Bank Ghana (FNBG). The facility is aimed at expanding access
to finance for micro, small and medium-sized enterprises
(MSMEs) across Ghana.
Speaking at the agreement signing event in Accra, the Chief
Executive Officer of First National Bank, Warren Adams, explained
that this five-year loan will enable the Bank to scale
up support for MSMEs across Ghana as a critical segment of the
Ghanaian economy that plays a pivotal role in driving employment,
innovation, and inclusive economic growth.
Mr. Adams said:
We are pleased to secure this US$20 million facility from British
International Investment, which will enable us to extend
much-needed financing to MSMEs. It demonstrates our commitment to
helping these businesses that are vital to Ghana's economic
growth.
MSMEs form the backbone of Ghana's economy - they account for
over 90 per cent of all businesses, drive 60 per cent of GDP and
account for 80 per cent of employment in the country. However,
they continue to face significant barriers to accessing long-term
capital. Through this funding, First National Bank will be able
to provide term loans and working capital solutions to
a broader range of small businesses, particularly those seeking
to recover and grow in the face of economic headwinds in the
commerce sector.
He added:
This facility comes at an opportune time as we seek to deepen our
support for Ghana's MSMEs. Our ambition is to provide real
solutions, both financial and advisory, for entrepreneurs and
small business owners who are key to economic development. This
funding helps us achieve our strategic goals to deliver
meaningful impact in the communities we serve.
H.E. Dr Christian Rogg, British High Commissioner said:
Today marks another proud milestone and highlights the strength
of the UK- Ghana partnership. By unlocking loans and investment
for small businesses, the backbone of Ghana's economy, British
Investment International is fuelling innovation, creating jobs,
and driving sustainable & inclusive growth. Together, we are
delivering shared prosperity for both our nations.
Chris Chijiutomi, Managing Director and Head of Africa at BII,
said:
We are proud to partner with First National Bank Ghana to expand
access to finance for Ghana's MSMEs, as they are an essential
driver of economic growth and innovation. The facility
will help unlock opportunities for businesses,
enabling job creation, strengthening resilience, and fostering
sustainable development. It reflects BII's commitment to backing
businesses that fuel inclusive growth and long-term
transformation across Africa.
