Access Bank Teams Up with Mantrac Ghana for Contractor Financing
Access Bank Ghana Plc has formed a strategic partnership with Mantrac Ghana to provide financing solutions for contractors and mining companies in Ghana. The agreement, signed at a ceremony in Accra, brings together Access Bank and four other leading local banks in a consortium financing arrangement.
The partnership will enable eligible contractors and mining firms to access tailored financing solutions, including working capital and equipment financing, to acquire heavy equipment from Caterpillar. According to Nana Kwabena Afoom, Executive Director of Wholesale Banking at Access Bank Ghana, access to capital is one of the biggest barriers preventing contractors from scaling their operations.
Afoom noted that every contractor has unique financing needs, and the bank will structure bespoke solutions to support each business. He also mentioned that the bank's footprint across 16 African countries positions it to support contractors on projects beyond Ghana's borders.