In a bid to assist traders affected by the Kantamanto fire outbreak, GCB Bank has launched a special loan package aimed at supporting its Micro and Small Enterprise (MSE) customers whose businesses were destroyed in the devastating fire.
On Thursday, January 30, GCB Bank honored its commitment to assist victims of the fire, which destroyed over 100 shops and affected more than 30,000 traders. The bank has allocated GH₵3 million in loans to provide relief to the affected individuals.
The bank gathered a group of affected customers to receive the loans after completing the necessary documentation.
Sina Kamagate, Executive Head of Retail Banking at GCB, spoke on behalf of the Managing Director and highlighted that the loan package includes a nine-month payment plan with a three-month moratorium, meaning no payments will be required in the first three months. Loan repayments will commence in April.
“We are deeply concerned about the welfare of the victims and are committed to helping restore their businesses,” Kamagate said, reaffirming GCB’s dedication to standing with its customers during this challenging time.
Kamagate also expressed confidence that the financial support would enable the traders to rebuild their businesses and come back stronger than before.
“Our thoughts and deepest sympathies are with all those affected by this tragic incident. As a Bank that stands firmly with our community in times of need, we are offering this tailored loan package to provide immediate financial support. We understand the immense challenges you are facing, and it is our hope that this initiative will help you rebuild your lives, restore your businesses, and regain stability.”
“Together, with resilience and determination, we can overcome this adversity and move forward toward a stronger and brighter future. For us at GCB Bank, initiatives like these give true meaning to our brand promise; your bank for life,” he said.
The Bank’s action is a follow-up on the promise made to the victims of the fires by GCB Bank through its Executive Head of Retail Banking when he and other Bank officials visited the Katamanto Market the morning after the market was razed to the ground. In that interaction, the Bank offered to support its customers at the Kantamato Market who had subscribed to the VAP.
GCB Bank PLC is a leading player in Ghana’s banking industry, with 184 branches, 340 ATMs and a host of banking agents spread across the length and breadth of the country. As Ghana’s premier indigenous bank, GCB Bank has, since its establishment in 1953, been described as a systemic bank with significant contributions to Ghana’s growth in multiple sectors including oil and gas, agriculture, commerce and others.
The Bank has transformed itself into one of Ghana’s most modern banks in terms of its financial intermediation capabilities including digital payment platforms and consequently strengthened its corporate reputation both at home and abroad. The Bank’s relationship with its stakeholders is delivered on a platform of trust, support and collaboration and anchored through its brand promise, “Your Bank for Life”.
