CBG Receives GH¢2.5bn Capital Boost

Daniel Wilson Addo

 

The Ministry of Finance has released GH¢2.5 billion in capital to the Consolidated Bank Ghana (CBG) to build its balance sheet resilience.

The capital boost forms part of measures by the government to position the bank for further growth.

“The bank is therefore solvent and liquid to discharge its core mandate of financial intermediation without any challenges,” CBG Managing Director (MD), Daniel Wilson Addo, disclosed during an interaction with journalists in Accra.

He said CBG is ideally positioned to continue its growth trajectory and, most importantly, to make a positive impact on the country’s economy.

5^th Anniversary

Touching on the five-year milestone as a market leader in Ghana’s banking industry, Mr. Addo, said the Bank has achieved significant milestones, including building cutting-edge technology platforms, impactful lending, and achieving leadership in SME finance.

“In the SME sector, CBG has played a pivotal role, providing GH¢1.6 billion in loans to over 5,600 businesses, introducing innovative programs such as the ‘CBG SME Adesua Series,’ and optimising loan processing for swift access,” he added.

These initiatives in the SME sector, Mr. Addo stated, have earned the bank various awards including the ‘Euromoney Award for SME Market Leadership’ in 2022 and 2023.

In the corporate and institutional banking segment, he said CBG has participated in loans totaling GH¢2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism, and agriculture.

In the immediate future, the CBG boss said the bank would deepen investment in digitisation, upscale support to SMEs, further prioritize customer service, and operational efficiency.

“Our overriding ambition is to build market leadership in SME financing while building a resilient institution,” he said.

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