Accra, Aug. 5, GNA – Access Bank Ghana PLC has signed a financing partnership with Mantrac Ghana to improve contractors’ and mining companies’ access to capital for heavy equipment acquisition.
The arrangement is expected to expand access to working capital and equipment financing for businesses executing infrastructure and mining projects across Ghana.
The Bank announced the agreement in a release copied to the Ghana News Agency after a signing ceremony in Accra.
The partnership brings Access Bank together with four other local banks in a consortium financing arrangement to support the acquisition of Caterpillar equipment supplied by Mantrac Ghana, the authorised Caterpillar dealer in Ghana.
The release said the facility would provide eligible contractors and mining companies with structured financing solutions, including equipment financing and working capital, to strengthen their capacity to undertake large-scale projects.
The financing is expected to improve access to equipment for businesses that often face funding constraints despite secured contracts and growing project pipelines.
Nana Kwabena Afoom, Executive Director, Wholesale Banking at Access Bank Ghana, said
inadequate access to capital remained one of the biggest constraints on the growth of contractors and mining companies.
“At Access Bank, we understand that ambition has never been the challenge for contractors and mining companies. The real constraint has always been capital and access to capital. A contractor with a strong order book is not a bad risk. It is a mispriced one. We at Access Bank price it right,” he said.
Mr Afoom said Access Bank’s operations across 16 African countries, as well as the United Kingdom and Mauritius, positioned it to support customers executing projects beyond Ghana.
“We don’t believe in templates. Every contractor has unique financing needs, and we are ready to sit with every customer to structure bespoke solutions that support their businesses.
“Equipment financed is equipment deployed. You have heard Banks make promises before. We are not visiting that sector, we live here,” he added.
Mr Frank Amegbeji, Group Head, Corporate Banking at Access Bank Ghana, said the partnership complemented Ghana’s infrastructure development programme by providing financing tailored to the needs of contractors and mining firms.
“We see local businesses as the engine of Ghana’s economic growth. Through this partnership, Access Bank will provide working capital, equipment financing and other tailored financial solutions that will help contractors and mining companies execute projects successfully.”
Mr Pierre Lambert Hill, Managing Director of Mantrac Ghana, said the partnership would
broaden access to Caterpillar equipment through financing solutions designed for businesses of different sizes.
“Whether small, medium or large, businesses will now have better financing options that enable them to acquire Caterpillar equipment and deliver quality projects,” he said.
The release said the partnership formed part of Access Bank Ghana’s strategy to expand financing for productive sectors, including construction, mining and infrastructure, through structured lending solutions.
GNA
Edited by Kenneth Sackey
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