Kintampo Rural Bank PLC, a leading financial institution in the Bono East Region, has launched an innovative financial product designed specifically for Micro, Small, and Medium-sized Enterprises (MSMEs).
The bank in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH with funding by the German Federal Ministry for Economic Cooperation and Development (BMZ), has designed the ‘MSME Financing’ initiative aimed at alleviating the financial hurdles faced by small businesses.
The product provides affordable credit, simplified payment systems, and expert financial guidance, addressing the unique challenges that hinder MSMEs from accessing essential financial support.
Other key features include prompt disbursement, reduced interest rates, flexible repayment terms, door-to-door cash collection, mobile banking services, and financial literacy training.
The MSME Financing product is available at all its six branches—Kintampo, Buipe, Jema, Techiman-Market, Techiman-Kenten, and Damongo. This initiative targets formal associations such as the Ghana National Tailors and Dressmakers Association (GNTDA) and the National Association of Beauticians and Hairdressers (NABH).
Launching the product, Martin Mensah, Chief Executive Officer of Kintampo Rural Bank, said, “the bank believes that MSME Financing will serve as a transformative tool, enabling local enterprises to thrive and significantly contribute to the region’s economic development.
By equipping these businesses with the necessary financial resources, the bank continues to uphold its commitment to empowering local communities for sustainable growth.
Speaking at the launch, Francis Owusu Antwi, Bono East Regional Minister, commended Kintampo Rural Bank and GIZ for the innovative financing model aimed at supporting the growth and development of MSMEs.
He called on all stakeholders including government agencies, private sector leaders, and civil society organizations—to collaborate in creating an enabling environment that empowers MSMEs to transform the local economy.
