BII's five-year loan will enable the Bank to scale up support for MSMEs across Ghana,a sector that plays a pivotal role in economic growth.
British International Investment (BII), the UK's development finance institution and impact investor, has provided a US$20 million loan facility to First National Bank Ghana (FNBG). The facility is aimed at expanding access to finance for micro, small and medium-sized enterprises (MSMEs) across Ghana.
Speaking at the agreement signing event in Accra, the Chief Executive Officer of First National Bank, Warren Adams, explained that this five-year loan will enable the Bank to scale up support for MSMEs across Ghana as a critical segment of the Ghanaian economy that plays a pivotal role in driving employment, innovation, and inclusive economic growth.
Mr. Adams said:
We are pleased to secure this US$20 million facility from British International Investment, which will enable us to extend much-needed financing to MSMEs. It demonstrates our commitment to helping these businesses that are vital to Ghana's economic growth.
MSMEs form the backbone of Ghana's economy - they account for over 90 per cent of all businesses, drive 60 per cent of GDP and account for 80 per cent of employment in the country. However, they continue to face significant barriers to accessing long-term capital. Through this funding, First National Bank will be able to provide term loans and working capital solutions to a broader range of small businesses, particularly those seeking to recover and grow in the face of economic headwinds in the commerce sector.
He added:
This facility comes at an opportune time as we seek to deepen our support for Ghana's MSMEs. Our ambition is to provide real solutions, both financial and advisory, for entrepreneurs and small business owners who are key to economic development. This funding helps us achieve our strategic goals to deliver meaningful impact in the communities we serve.
H.E. Dr Christian Rogg, British High Commissioner said:
Today marks another proud milestone and highlights the strength of the UK- Ghana partnership. By unlocking loans and investment for small businesses, the backbone of Ghana's economy, British Investment International is fuelling innovation, creating jobs, and driving sustainable & inclusive growth. Together, we are delivering shared prosperity for both our nations.
Chris Chijiutomi, Managing Director and Head of Africa at BII, said:
We are proud to partner with First National Bank Ghana to expand access to finance for Ghana's MSMEs, as they are an essential driver of economic growth and innovation. The facility will help unlock opportunities for businesses, enabling job creation, strengthening resilience, and fostering sustainable development. It reflects BII's commitment to backing businesses that fuel inclusive growth and long-term transformation across Africa.
