{"id":154128,"date":"2024-02-21T11:02:22","date_gmt":"2024-02-21T11:02:22","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/02\/21\/cbg-kasapreko-raise-gh%c2%a2600m-on-stock-market\/"},"modified":"2024-02-21T11:02:22","modified_gmt":"2024-02-21T11:02:22","slug":"cbg-kasapreko-raise-gh%c2%a2600m-on-stock-market","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/02\/21\/cbg-kasapreko-raise-gh%c2%a2600m-on-stock-market\/","title":{"rendered":"CBG, Kasapreko Raise GH\u00a2600m On Stock Market"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Richard Adjei ( 2nd left ) with officials of CBG and GSE tolling the bell to signify the listing<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Consolidated Bank Ghana (CBG) on Monday, 19 February, 2024, listed the first series of GH\u00a2600 million Note for Kasapreko PLC on the Ghana Stock Exchange, (GSE) under the Ghana Fixed Income Market (GFIM).<\/p>\n<p>The listing, under trench one and two, has raised GH\u00a2150 million on the GSE to support the growth of the indigenous beverage manufacturing company.<\/p>\n<p>The amount will be utilised to shore up the company\u2019s working capital, finance capital expenditure, including operational expansion, and refinance short-term debts.<\/p>\n<p>The debt instrument, procured from the stock market, carries a lending rate of 26 per cent, lower than the Ghana Reference Rate of 34 per cent.<\/p>\n<p>Managing Director of CBG, Daniel Addo, addressing the media in Accra after the listing, said the transaction signifies the beginning of a new paradigm in funding local businesses in the county.<\/p>\n<p>\u201cIt is the first time an indigenous Ghanaian Bank has worked with an indigenous manufacturing company to raise funding from local pension funds in the public market,\u201d he stated.<\/p>\n<p>Mr. Addo stated, \u201cThe solution to our challenges in funding local corporates and Small and Medium-sized Enterprises (SMEs) lies with us, and it\u2019s really around how banks, other financial institutions, and industry players address the risks inherent in SMEs, in particular,\u201d he said.<\/p>\n<p>He further encouraged financial institutions and industry players to confront risks, asserting that the Consolidated Bank Ghana works towards managing risks and advise local businesses on how best to manage their finances for growth.\u201d<\/p>\n<p>\u201cThis transaction is a testament to our overriding ambition to make an impact in the communities in which we operate. At the core of our business philosophy is the idea that our lending must be economically impactful,\u201d Mr. Addo reiterated.<\/p>\n<p>Assuring continued support to Kasapreko Limited and other Ghanaian businesses, the Managing Director affirmed, \u201cCBG will be with you through the good and bad times.\u201d<\/p>\n<p>Managing Director of Kasapreko, Richard Adjei, expressed optimism that the innovative financing source would bolster their operations.<\/p>\n<p>He described the financing scheme from the Ghana Stock Exchange as a relatively cheaper, patient capital, and sustainable source for business growth.<\/p>\n<p>\u201cCBG made us understand that we can fund our business from other sources, and this is to diversify our funding from the traditional banks, raise cheaper and more sustainable funding,\u201d he said.<\/p>\n<p>Mr. Adjei disclosed that with the GH\u00a2150 million, Kasapreko would expand its production capacity and enhance its trade under the African Continental Free Trade Area (AfCFTA), having already exported to Kenya and South Africa.<\/p>\n<p>\u201cWith this development, we\u2019ll be able to get more affordable products to the market, and contribute to support communities in Ghana and beyond,\u201d the Kasapreko Limited MD said.<\/p>\n<p><strong>By Jamila Akweley Okertchiri<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Richard Adjei ( 2nd left ) with officials of CBG and GSE tolling the bell to signify the listing \u00a0 Consolidated Bank Ghana (CBG) on Monday, 19 February, 2024, listed the first series of GH\u00a2600 million Note for Kasapreko PLC on the Ghana Stock Exchange, (GSE) under the Ghana Fixed Income Market (GFIM). The listing, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":154129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-154128","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBG, Kasapreko Raise GH\u00a2600m On Stock Market - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/02\/21\/cbg-kasapreko-raise-gh\u00a2600m-on-stock-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBG, Kasapreko Raise GH\u00a2600m On Stock Market - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Richard Adjei ( 2nd left ) with officials of CBG and GSE tolling the bell to signify the listing \u00a0 Consolidated Bank Ghana (CBG) on Monday, 19 February, 2024, listed the first series of GH\u00a2600 million Note for Kasapreko PLC on the Ghana Stock Exchange, (GSE) under the Ghana Fixed Income Market (GFIM). 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