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Banks (Finance)

Stanbic Bank Ghana Joins BRIDGE-in Agriculture Initiative for Sector Boost

Strategic Insights

— 1 min read

Stanbic Bank Ghana has joined the Building Resilience and Investing in the Development and Growth of Entrepreneurs in Agriculture (BRIDGE-in Agriculture) initiative, a partnership between Mastercard Foundation and CrossBoundary Advisory that aims to support agri-SMEs in Ghana. The initiative seeks to provide affordable funding, technical support, and training to entrepreneurs, particularly young women and persons with disabilities, operating in the agricultural value chain. Marian Amartey, Head of Business Enablement for Business and Commercial Banking at Stanbic Bank, emphasized the bank's strategic commitment to catalyze inclusive economic growth through deliberate collaboration.

Key Takeaways:

  • The BRIDGE-in Agriculture initiative is a partnership between Mastercard Foundation, CrossBoundary Advisory, and Stanbic Bank Ghana, aiming to support agri-SMEs in Ghana with affordable funding, technical support, and training.
  • The initiative targets young women, persons with disabilities, and other marginalized groups, with a focus on empowering youth and women in the agricultural sector.
  • Stanbic Bank will provide credit to SMEs at single-digit interest rates, reducing the cost of borrowing and enabling businesses to expand operations and create employment.
  • The bank will also offer advisory and technical support, and deliver capacity-building initiatives to help agribusinesses grow sustainably.
  • The BRIDGE-in Agriculture Programme is expected to directly impact hundreds of SMEs and indirectly impact thousands of livelihoods across the country.

Statistics:

  • The BRIDGE-in Agriculture initiative targets the agricultural sector, which contributes significantly to Ghana's economy, with agriculture employing about 40% of the country's workforce (Source: World Bank).
  • The initiative aims to provide support to over 100 agri-SMEs, with a focus on young women and persons with disabilities (Source: BRIDGE-in Agriculture).
  • Stanbic Bank will offer loans with a maximum interest rate of 7% and provide technical support to SMEs in the agriculture sector (Source: Stanbic Bank Ghana).
  • The initiative is expected to create employment opportunities for thousands of people in the agricultural sector (Source: BRIDGE-in Agriculture).

Sources:

  • "Ghana News Agency"
  • "Stanbic Bank Ghana"
  • "Mastercard Foundation"
  • "CrossBoundary Advisory"
  • "World Bank"

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