Cocoa Post
Voice of Cocoa

GCB Bank Injects GH¢370 Million in Agric & Cocoa Sectors

GCB Bank Ltd invested a total of GH¢378 million in the cocoa and the agricultural sectors of the Ghanaian economy in the past year.

Of the amount, GH¢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 utilized 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, Mr 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 GH¢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.

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