"DBG to Provide Long-Term Financing to Youth Entrepreneurs Through Partnership With Amenfiman Rural Bank"

" DBG to Provide Long-Term Financing to Youth Entrepreneurs Through Partnership With Amenfiman Rural Bank \r\n\r\n In a significant move to empower Youth Entrepreneurs in Ghana, Development Bank Ghana (DBG) has partnered with Amenfiman Rural Bank Plc as the first rural bank in its network of Participating Financial\u00a0 Institutions (PFIs). \r\n\r\n This partnership underscores DBG\u2019s commitment to bridging the financing gap for\u00a0 Youth Entrepreneurs in underserved communities, driving inclusive growth, and promoting sustainable development in Ghana.\u00a0 \r\n\r\n As Ghana\u2019s wholesale financial institution dedicated to economic development, DBG partners with financial institutions across the country to bring much-needed financing and capacity-building support to micro, small, and medium enterprises (MSMEs).\u00a0 \r\n\r\n By welcoming Amenfiman Rural Bank into its Partner Financial Institution (PFI) network, DBG aims to expand its footprint in Ghana\u2019s rural community in four regions\u2014Western, Western North, Central, and\u00a0 Ashanti Regions\u2014ensuring that Youth Entrepreneurs in these regions have access to the financing required for sustainable growth. \r\n\r\n This partnership is projected to disburse GHS 72 million in the next three years through Amenfiman Rural Bank, with GHS 18 million already successfully disbursed.\u00a0 \r\n\r\n In addition to funding, DBG will also provide technical assistance to Amenfiman\u2019s management and staff,\u00a0 especially in Environmental Social and Governance (ESG), bolstering their capacity to handle the diverse needs of Youth Entrepreneurs within the agricultural, manufacturing, ICT, education, health, and tourism sectors.\u00a0 \r\n\r\n Since its founding in 1980, Amenfiman Rural Bank has been at the forefront of economic development in\u00a0 Ghana, serving MSMEs, government employees, and private-sector workers through a network of 18\u00a0 branches, 7 mobilization centres, and 3 microfinance offices.\u00a0 \r\n\r\n Having demonstrated consistent leadership in rural banking, Amenfiman was recently recognized as the\u00a0 Overall Best Rural Bank in Ghana for the 2022\/2023 financial years at the 5th Rural and Community Banks\u00a0 Excellence Awards Ceremony.\u00a0 \r\n\r\n With DBG\u2019s support, Amenfiman will now have access to medium-to-long-term financing options,\u00a0 empowering it to better serve the growth and expansion needs of its clients.\u00a0 \r\n\r\n \u201cDBG\u2019s partnership with Amenfiman Rural Bank represents a pivotal moment in our mission to increase financial accessibility for underserved markets,\u201d said Kwamina Duker, CEO of Development Bank Ghana. \u201cOur goal is to provide MSMEs in rural areas with the resources they need to scale, create jobs, and uplift their communities. Amenfiman\u2019s extensive presence in four regions makes it an ideal partner as we work\u00a0 to expand our reach and impact.\u201d \r\n\r\n Michael Mensah Baah, Deputy CEO of Development Bank Ghana, also added, \u201cAt DBG, our commitment is to unlock the potential of Ghana\u2019s Youth Entrepreneurs in remote parts of the country by delivering financial solutions tailored to their distinct needs. Partnering with Amenfiman Rural Bank goes beyond\u00a0 expanding our reach\u2014it\u2019s about building real, lasting economic transformation in the remote parts of the\u00a0 country by providing long-term funding with handholding support for Youth Entrepreneurs to build\u00a0 resilience in their businesses.\u201d\u00a0 \r\n\r\n Dr. Alexander Asmah, CEO of Amenfiman Rural Bank, expressed his enthusiasm for the partnership, stating, \u201cOur collaboration with DBG marks a new chapter for Amenfiman. This access to long-term funding will enable us to serve our clients\u2019 larger projects more effectively, addressing an area where traditional short-term funds often fall short. We are committed to using this partnership to deepen our\u00a0 impact and lead by example within Ghana\u2019s rural banking sector.\u201d\u00a0 \r\n\r\n The collaboration with Amenfiman aligns with DBG\u2019s core focus on empowering local businesses,\u00a0 facilitating job creation, and promoting economic resilience. Through this partnership, DBG is expanding the reach of the Government of Ghana\u2019s \u201cSME GO\u201d programme to rural Ghana, enabling Amenfiman to scale its support for MSMEs and small corporate clients while actively contributing to the nation\u2019s economic growth.\u00a0 "

"DBG to Provide Long-Term Financing to Youth Entrepreneurs Through Partnership With Amenfiman Rural Bank"

Nigeria Cuts Interest Rates for the First Time in Five YearsAMP

Ousmane Dembele Wins Ballon d’Or: Every Previous Winner of the Prestigious Award, Including Lionel Messi and Cristiano RonaldoAMP

Ghana’s Housing Crisis: 11.5m Citizens Unable to Afford Homes, Says Housing MinisterAMP