One of Africa’s largest banks, Access Bank is providing financial support and solutions to German companies and their local partners operating in Ghana.
The initiative called named the “German Desk – Financial Support and Solution” at the Ghanaian branch of Access Bank Group is a partnership between the bank, DEG- Deutsche Investitions- und Entwicklungsgesellschaft and the Delegation of German industry and Commerce in Ghana (AHK Ghana).
Many German businesses operating in Ghana and parts of Africa have complained about challenges faced in accessing financial support to expand their operations.
What this new “German Desk Ghana” financial solution does is to make available funding support for Ghanaian companies wishing to acquire German equipment or use German services.
That means these companies will be assisted to set up their accounts with Access bank, secure short to medium term credit lines, financial trade and transaction banking services.
Beneficiary companies stand to gain a lot due to the combined network of Access Bank, AHK Ghana and DEG.
The deal was signed during the German African Business Summit in Accra this week with significant appreciation from businesses that consider the initiative important.
The deputy managing director of Access Bank Plc, Roosevelt Ogbonna says the bank has always positioned itself appropriately to service the business community both in Africa and beyond.
He considers initiative any signal of how financially sound and grounded Access Bank is in Africa. “This partnership with DEG is the first of its kind in Ghana and mirrors our successes in Nigeria,” Ogbonna added.
He said Access bank is “leveraging on the global investment footprints of our partners and our strong local industry expertise to close the financial gaps hampering trade activities in Ghana and the sub-region”.
The chairman of the DEG’s management board, Christine Laibach on her part highlighted how pleased her outfit is to “open a German desk together with the Delegation of German Industry and Commerce and Access Bank”.
It will “help intensify the links between German and Ghanaian companies” Laibanch added during the unveiling of the initiative in Accra.
The German Desk initiative between Access bank and DEG is already available in Nigeria and has been active since October 2017.
Access Bank is hopeful the Ghanaian version of this partnership will also blossom and be well received as has already happened in Nigeria.