Rédaction Africa Links 24 with Ghanaian Times
Published on 2024-03-08 14:37:07
Consolidated Bank Ghana LTD (CBG) and Kasapreko Co. Plc, an indigenous beverage manufacturer, have entered into a strategic partnership as a joint lead arranger. This partnership aims to support Kasapreko Co. Plc’s ambitious growth plans through the official listing of the Series 1 GHS 600 million Note Programme on the Ghana Fixed Income Market (GFIM).
The funds raised from this programme will be utilized to enhance Kasapreko Co. Plc’s working capital, finance capital expenditures for operational expansion, and refinance short-term debts. This move was praised by the Managing Director of CBG, Mr. Daniel Wilson Addo, who highlighted the significance of this transaction as a groundbreaking collaboration between an indigenous Ghanaian bank and a local manufacturing company.
Mr. Addo emphasized the importance of fostering strong partnerships among indigenous companies to overcome financing challenges and innovate in the face of evolving risks. He stated that the funding secured through this programme will provide Kasapreko Co. Plc with a cost-effective source of capital that will significantly benefit its operations.
Furthermore, Mr. Addo reiterated CBG’s commitment to making a positive impact in the communities where it operates, emphasizing the economic impact of the bank’s lending philosophy. The Managing Director of Kasapreko Co. Plc, Mr. Richard Adjei, expressed his appreciation for the innovative financing source provided by CBG, describing it as a sustainable solution for business growth.
Mr. Adjei highlighted that with the infusion of funds, Kasapreko Co. Plc plans to expand its production capacity and increase its participation in the African Continental Free Trade Area (AfCFTA). The company has already exported products to Kenya and South Africa, and this financing will enable further growth and expansion opportunities.
The joint press briefing in Accra was attended by senior executives from both CBG and Kasapreko Co. Plc, including the Deputy Managing Director of Operations and Technology, Director of Finance and Strategy, and other key members of the respective management teams. The collaboration between the two companies represents a milestone in the local financial and manufacturing sectors, showcasing the potential for indigenous companies to work together to achieve their growth objectives.
In conclusion, the partnership between CBG and Kasapreko Co. Plc demonstrates the power of collaboration and innovation in addressing the financing needs of local businesses. This initiative not only supports the growth and expansion of Kasapreko Co. Plc but also highlights the role of financial institutions in driving economic development and sustainability in Ghana’s business landscape.
Read the original article on Ghanaian Times
