The Association of Ghana Industries (AGI) has disclosed to JOY BUSINESS, it is in the final stages of securing a license for its bank from the Bank of Ghana (BoG).
The association wants to set up what it calls an Industrial Development Bank to cater for the financial needs of Small and Medium Enterprises which constitute about 70 percent of its membership.
This, it believes would significantly address the financing challenges affecting the growth of these enterprises.
President of AGI, James Asare Agyei said it is going very well and they are expecting a favourable response from the Central Bank.
"Industrial Development Bank focuses on industrialisation particularly in the areas of manufacturing so that we can be able to grow or develop the capacities of local industries," he said.
Latest Stories
-
Ukraine warns of WW3 ahead of stalled US aid vote
10 mins -
Paris 2024: LeBron James, Steph Curry and Kevin Durant named on USA basketball team
49 mins -
Woman rejected after a job interview because she wasn’t wearing makeup
52 mins -
4 little habits that cause big problems in your marriage
52 mins -
Election 2024: NPP establishes PWDs secretariat; targets 1.6 million PWDs votes
53 mins -
PIAC touts GNPC’s prowess as key energy provider
59 mins -
Fidelity Bank joins United Nations Global Compact initiative
1 hour -
Let’s leverage digital age to empower female CEOs, entrepreneurs – Bawumia
1 hour -
MTN and Huawei launch Joint Technology Innovation Lab to drive Africa’s digital transformation
1 hour -
‘I have no regrets’ – Pep Guardiola on Man City’s Champions League exit
1 hour -
Ghana, Vietnam commit to promoting bilateral relations
1 hour -
Police officer dies in pursuit of traffic offender
2 hours -
NDC’s attempt to pooh-pooh our efforts to increase Ghana’s power grid senseless – Atta Akyea
2 hours -
Paris 2024: Cadman Yamoah eyes Olympics spot
2 hours -
Bayern Munich end Arsenal’s Champions League dream as Kimmich scores winner
2 hours