Business News of Thursday, 12 July 2018
GCB Bank and Invest In Africa (IIA) are pleased to announce the signing of an agreement that formally makes GCB Bank the newest partner of the initiative.
IIA is a private sector initiative that brings together leading indigenous and international companies across sectors; actively working together to create a sustainable business ecosystem – by offering local enterprises access to finance, markets and skills that improves their competitiveness and accelerates their growth.
Launched in Ghana in September 2014, to date IIA has registered 1500+ SMEs, facilitated credit access of US$973K and tenders won valued at US$97.1M. GCB Bank’s Managing Director, Mr. Anselm Ray Sowah, explained that: “joining the Invest In Africa initiative further reinforces GCB Bank’s commitment to Ghana, to make a positive difference by supporting in the growth of local businesses.”
On his part Invest in Africa Ghana’s Country Director, Mr. Clarence Nartey, stated that: “The partnership with GCB is yet another example of IIA’s commitment to building the right relationships to support SME development, local capacity building and job creation.”
GCB Bank, the largest indigenous financial institution in Ghana with 180+ branches and a strong digital banking backbone, promises IIA registered SMEs will benefit from short-to-medium term capital to enable them service tenders won on the African Partner Pool (APP); IIA’s flagship platform for accessing tenders.
The partnership will also explore how SMEs shortlisted by GCB Bank for the Government’s One District One Factory (1D1F) industrialisation programme can benefit from the Business Excellence Programme (BEP); IIA’s flagship access to skills platform.
Large companies and organisations already supporting the initiative include: Tullow Ghana, MODEC, Newmont Mining, Ecobank Ghana, Societie Generale Ghana, Guinness Ghana Breweries, AB & David Law, the Millennium Development Authority (MiDA), the Association of Ghana Industries (AGI), Ghana Investment Promotion Centre (GIPC), EY, Africa Development Bank (AfDB) and Multimedia Group.
About Invest in Africa (IIA)
Invest in Africa (IIA) is focused on supporting local Ghanaian businesses by providing greater access to finance, markets and skills; making it easier for international companies working in Ghana and large homegrown companies to source locally and at scale.
IIA’S cross-sector partner membership model allows companies, as a collective, the opportunity to achieve greater scale and sustainable impact in the economies in which they operate. The experience of operating across Africa has helped IIA Partners to understand both the business challenges and the significant business opportunities on the continent.
For more information, visit: www.investinafrica.com