Access Bank Ghana PLC has entered into a financing partnership with Mantrac Ghana to improve contractors’ and mining companies’ access to capital for the acquisition of heavy equipment.
The partnership is expected to expand access to working capital and equipment financing for businesses undertaking infrastructure and mining projects across the country.
A statement issued by Access Bank Ghana said under the arrangement, Access Bank joins four other local banks in a consortium financing initiative to support the acquisition of Caterpillar equipment supplied by Mantrac Ghana, the authorised Caterpillar dealer in Ghana.
The statement said the financing facility would offer eligible contractors and mining companies structured financial solutions, including equipment financing and working capital, to strengthen their capacity to execute large-scale projects.
It said the initiative would help address funding constraints that often prevent businesses with secured contracts and growing project portfolios from acquiring the equipment needed to deliver projects efficiently.
Nana Kwabena Afoom, Executive Director for Wholesale Banking at Access Bank Ghana, said inadequate access to capital remained one of the biggest challenges facing contractors and mining companies.
He said many businesses possessed the expertise and project pipeline needed to grow but lacked the financing required to execute contracts.
“At Access Bank, we understand that ambition has never been the challenge for contractors and mining companies. The real constraint has always been capital and access to capital. A contractor with a strong order book is not a bad risk. It is a mispriced one. We at Access Bank price it right,” he said.
Mr Afoom said Access Bank’s presence in 16 African countries, as well as the United Kingdom and Mauritius, positioned it to support customers executing projects across multiple markets.
He said the Bank would continue to provide customised financing solutions tailored to the unique needs of individual contractors rather than adopting a one-size-fits-all approach.
“We don’t believe in templates. Every contractor has unique financing needs, and we are ready to sit with every customer to structure bespoke solutions that support their businesses,” he said.
Mr Frank Amegbeji, Group Head of Corporate Banking at Access Bank Ghana, said the partnership aligned with Ghana’s infrastructure development agenda by providing financing solutions designed specifically for contractors and mining companies.
He said local businesses remained central to the country’s economic growth and that the Bank was committed to supporting them through working capital, equipment financing and other tailored financial products.
Mr Pierre Lambert Hill, Managing Director of Mantrac Ghana, said the collaboration would broaden access to Caterpillar equipment through flexible financing arrangements for businesses of all sizes.
“Whether small, medium or large, businesses will now have better financing options that enable them to acquire Caterpillar equipment and deliver quality projects,” he said.
The statement said the partnership forms part of Access Bank Ghana’s broader strategy to increase financing for productive sectors, including construction, mining and infrastructure, through structured lending solutions.
