The International Finance Corporation (IFC) has announced a partnership with Access Bank (Ghana) Plc to increase access to finance for small businesses in the country, with a portion of the funding specifically dedicated to women entrepreneurs.
Under the partnership, IFC will invest up to $10 million in local currency equivalent in an unfunded Risk Sharing Facility (RSF) with Access Bank to increase lending to small and medium-sized enterprises (SMEs) in Ghana.
This includes those in the agriculture, health, education, and green sectors, including waste reduction, energy saving, and sustainable building practices.
The RSF will provide a 50 per cent guarantee on a portfolio of eligible loans to SMEs of up to $20 million in local currency currency equivalent, eliminating the risk of currency fluctuations. At least 25 per cent of the facility will support women-owned SMEs (WSMEs).
The RSF is processed under IFC’s Small Loan Guarantee Program (SLGP), a programmatic approach to de-risk and scale up financing for SMEs in Ghana and other Eligible Countries which aims to enhance financial inclusion, job creation, and bridge the SME finance gap in emerging economies.
SLGP is supported by the European Union, and represented by the European Commission via the European Fund for Sustainable Development (EFSD).
Speaking at the signing ceremony at the Bank’s Head Office, Managing Director of Access Bank (Ghana) Plc, Olumide Olatunji highlighted the enormous impact this partnership provides to all MSMEs.
“At Access Bank, we love SMEs and this is evident in our support to them. As we celebrate our 15th anniversary, this partnership further deepens our unflinching commitment to SMEs.
"We believe that empowering micro, small, and medium enterprises is crucial to promoting economic growth and development.
"Our partnership with the IFC is a major step towards enhancing financial access for these businesses while giving them the financial push to thrive and contribute meaningfully to the country’s economy.

He added that “Access Bank believes in the power of partnerships to drive meaningful and sustainable impacts to the communities we serve. I have no doubt that this partnership will unlock new opportunities for MSMEs, fostering innovation, and driving sustainable development”.
“IFC’s commitment to supporting small businesses with local currency funding reflects our dedication to driving economic growth and job creation in Ghana,” said Kyle Kelhofer, IFC Senior Country Manager for Ghana.
“With both financial and advisory support, IFC is empowering Ghana’s smaller businesses and fostering a more inclusive and resilient economy."
Although financial inclusion has improved in sub-Saharan Africa in recent years, small and medium businesses still identify access to finance as a key constraint. According to the Global Findex Database, the credit gap for women-owned SMEs in Ghana was estimated at $213 million in 2021.
IFC’s support will help Access Bank Ghana to increase its reach to key segments that remain traditionally underserved by financial institutions, to triple the bank’s WSME loan portfolio to US$60 million by 2028.
SMEs represent the vast majority of businesses in Ghana and are an important source of job creation.
In the last decade, IFC has provided close to $2 billion in financing and advisory services into the Ghanaian economy, investing in key sectors such as healthcare, energy, agribusiness, financial services, infrastructure, manufacturing, retail, education, and tourism.
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