Access Bank, Mantrac Partner To Power Construction, Mining Companies

Access Bank, a leading Ghanaian bank, has formed a strategic partnership with Mantrac Ghana, the authorized dealer of Caterpillar equipment, to provide financial support to contractors and mining companies across the country. This agreement, signed in Accra, establishes a consortium financing arrangement along with four other major local banks to facilitate easier access to capital for businesses in Ghana's infrastructure sector.

The partnership aims to help these businesses acquire Caterpillar machinery without the traditional constraints that have hindered their growth. Nana Kwabena Afoom, Executive Director of Wholesale Banking at Access Bank, emphasized that access to capital is a significant barrier to scaling operations for contractors and mining firms.

He explained that at Access Bank, they recognize ambition as the strength of these businesses but acknowledge capital as the real constraint, which they are addressing through tailored financing solutions. Access Bank's extensive presence in 16 African countries, along with operations in the UK and Mauritius, enables them to support projects that transcend Ghana's borders.

Frank Amegbeji, Group Head of Corporate Banking at Access Bank, highlighted the partnership as a timely intervention that aligns with Ghana's infrastructure development plans and the government's investments in major construction projects. Pierre Lambert Hill, Managing Director of Mantrac Ghana, emphasized that the collaboration aims to make Caterpillar's internationally recognized equipment more accessible through innovative financing options.

He stated that this partnership will bring together leading financial institutions to provide better financing solutions for businesses of all sizes, enabling them to acquire Caterpillar equipment and deliver high-quality projects.