GCB Bank Limited has invested a total of ¢378 million in the cocoa and agricultural sectors of the economy in the past year.
Of the amount, ¢370 million went into the cocoa industry in the form of Overdrafts, Term Loans and Seed Fund Guarantees for the funding of cocoa purchases to licensed buying companies.
The remaining GH¢8 million was utilised in funding the purchase of over 40 vehicles, tractors and heavy-duty trucks for the transportation of cocoa from the hinterlands to the various ports.
The Managing Director of GCB, Anselm Ray Sowah, who announced this, gave the assurance that the Bank would from the year 2020 extend its support to fish farming and poultry.
Speaking at GCB’s encounter with its Corporate Clients in the cocoa and agriculture sectors in Accra, the MD also revealed that the Bank has partnered with some vehicle dealerships with over ¢12 million to set up a franchise for reputable vehicle brand.
“In line with this arrangement, we have developed flexible credit facilities to enable individuals to purchase brand new vehicles,” he said.
Additionally, the Bank has also made significant gains in the Insurance and Financial Services Industry by integrating its systems to make transactions more fluid and convenient.
The Acting Head of Corporate Banking Department of the Bank, Nana Antwi Boasiako, said the Bank in 2020 would offer superior products and excellent services, adding that GCB offers stability and liquidity for corporate businesses.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
MultiChoice Ghana partners with Ghana Hotels Association to elevate guest entertainment
5 mins -
Bawumia’s music streaming app or Mahama’s pay-per-view TV channel?
10 mins -
Karpowership Ghana empowers 40 Takoradi Technical University students with scholarship
12 mins -
We expect significant reduction in prices of petroleum products in coming weeks – CEO AOMC
25 mins -
Betway Africa offers once-in-a-lifetime ‘Play-on-the-Pitch’ experience at Emirates Stadium
34 mins -
I coined the term ‘hype man’ in Ghana – Merqury Quaye
40 mins -
Vasseur questions ‘strange momentum’ of Formula One race director change
1 hour -
“I am disappointed in Kojo Manuel” – Merqury Quaye on “no tie” comment
1 hour -
Nana Kwame Bediako; The beacon of unity
1 hour -
Western Region: NDC youth wing embarks on phase 2 of ‘retail campaign’
2 hours -
Action Chapel International holds annual Impact Convention in November
2 hours -
Jana Foundation urges young women to take up leadership roles
2 hours -
All set for Joy FM Prayer Summit for Peace 2024
2 hours -
Managing Prediabetes with the Help of a Dietitian
2 hours -
Joy FM listeners criticise Achiase Commanding Officer’s election comment
2 hours