CBG marks 5th anniversary with GHS 1.6bn loans to over 5,000 SMEs; arranges GHS 2.35bn in loans to crucial sectors
Consolidated Bank Ghana Ltd (CBG) has marked a noteworthy five-year milestone, announcing impressive achievements and strategic initiatives to bolster its standing in the financial landscape.
Since its inception, CBG has disbursed GH₵1.6 billion in loans to over 5,600 businesses, with a notable presence in crucial sectors such as energy, tourism, and agriculture, contributing to a total of GH₵2.35 billion in corporate and institutional banking.
To fortify its growth trajectory and restore balance sheet resilience, CBG recently received a capital injection of GH₵2.5 billion from the Ministry of Finance, as disclosed by Mr. Daniel Wilson Addo, the Managing Director, during a press conference commemorating the bank’s fifth year of market relevance.
Positioning itself as a financial institution in robust health, CBG boasts solvency and liquidity, allowing it to seamlessly execute its core mandate of financial intermediation.
Mr. Addo attributed the bank’s success to innovative programs, including the ‘CBG SME Adesua Series,’ and streamlined loan processing, ensuring swift access to funds.
CBG’s commitment extends beyond financial operations, with a focus on community development through various Corporate Social Responsibility initiatives, particularly in health and education.
The bank’s contributions have not gone unnoticed, as evidenced by prestigious accolades such as the ‘Euromoney Award for SME Market Leadership’ in both 2022 and 2023.
Looking ahead, Mr. Addo outlined CBG’s strategic vision, emphasizing a deepened investment in digitization, increased support for SMEs, prioritized customer service, and enhanced operational efficiency. The overarching goal is to solidify CBG’s market leadership in SME financing, reinforcing its position as a resilient financial institution.
As CBG reflects on five years of impactful operations, its leadership charts a course for continued growth, innovation, and a positive contribution to the economic landscape of Ghana.
