Audio By Carbonatix
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.
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
-
Prime Insight to tackle power woes and BoG loss debate this Saturday
45 minutes -
Prince Amoako Jnr scores in Nordsjaelland draw against Brøndby
47 minutes -
US to cut troop levels in Germany by 5,000 amid Trump spat with Merz
1 hour -
Sale of gold bought between 2023 and 2024 saved Bank of Ghana from a GH¢33 billion loss
2 hours -
Kurt Okraku – A man of two versions
2 hours -
Hoshii International secures gold sponsorship for Accra 2026 African Senior Athletics Championships
2 hours -
Ghana’s growth outlook dims slightly amid US-Iran conflict – Fitch Solutions
2 hours -
BoG lost GH¢9.05bn from gold purchase programme in 2025
2 hours -
Andre Ayew was my childhood hero – Kofi Kyereh
2 hours -
Trump tells Congress ceasefire means he does not need their approval for Iran war
3 hours -
Trump says he will hike tariffs on EU cars to 25%
4 hours -
Ghana warns nationals of heavy penalties for visa overstay in Ethiopia
4 hours -
May Day: TUC expects economic growth to reflect in job security
4 hours -
Foreign Affairs Ministry warns against fake immigration stamps, cites arrests of Ghanaians abroad
4 hours -
Ablakwa briefs Diplomatic Corps on UN slavery resolution, says it marks a shift from denial to responsibility
4 hours