FBN Bank Ghana Limited, has disclosed that it is working in close collaboration with the EXIM Bank to support businesses interested in entering the agricultural sector.
According to the bank, it will use its experience of supporting such businesses from Nigeria to do same in Ghana.
Read: ASTEK to be revamped with $1m EXIM Bank loan
A number of banks in the country have over the years shied away from investing in the agricultural sector because of the high risk involved.
In an interview with Citi Business News, at the sidelines of the 125th-anniversary celebration of the FBN Bank, its Chief Executive Officer, Odeyemi said the bank will do all it can to support the economy.
“We are supporting the SMEs, that is small and medium enterprises and we will continue to do that, we are one of the banks that has kept our licenses in the sense that our license is still in existence and we will continue to support the economy of Ghana by granting facilities to customersâ€.
Read: Exim Bank unveils 3-year strategic plan; 100,000 jobs to be created
Mr. Odeyemi assured that the bank is identifying players in the agriculture sector to provide funds for them.
He stated that to effectively identify people in the agriculture sector, the bank is working with the EXIM Bank to make sure the players are well supported.
“The advantage we have over other banks in Ghana is that we have gathered experience of supporting the agricultural sector in Nigeriaâ€.
Commenting on what the bank will do to maintain operations even after meeting the minimum capital requirement of 400 million cedis, Mr Odeyemi said the bank will be heavy on digitization.
“As a bank that wants to give customers the best experience and make sure they always come back to us we will employ more digitization in our operationsâ€.
He added, “We believe that by doing so we will continue to be relevantâ€.
FBN BANK Ghana Ltd is a subsidiary of First Bank of Nigeria Limited which is currently operating 17 branches and two agencies across Ghana.
Source: citibusinessnews.com