A communications team member of the New Patriotic Party (NPP), Kwabena Marfo, has advised Small to Medium Enterprises (SMEs) owners to take advantage of the Development Bank in Ghana.
The Bank has received $700m as seed capital to support SMEs in Ghana. The vision of the bank is to provide financial assistance to baby companies that cannot afford the high interest rate on loans from commercial banks which are 22% of the money received.
Speaking with Kwaku Dawuro on Movement In The Morning Political Show on the above Kwabena Marfo said, ‘’expanding a business is sometimes difficult but today due to the economic transformation agenda of the President, he has instituted the Development Bank to help build businesses. If you have a business with a good innovative and workable policy plan, you must take advantage of this golden opportunity’’.
He stated that the loan is long term and one has up till three years to start repayment.
“Ghanaians are grateful to President Akufo-Addo for initiating such financial solution to help grow small businesses after the Covid-19 pandemic. The bank will open branches in most part of the country to provide employment opportunities for young people”, he added.
The Development Bank started operations on Tuesday 14th June, 2022.
Video below…