GCB Bank PLC has rolled out a special loan package for its Micro and Small Enterprise (MSE) customers whose businesses were destroyed in the devastating fires at Katamanto and Techiman Markets earlier this month with GH₵3 million.
In total, over 100 affected customers will benefit from the package which will help them rebuild their businesses and recover from the destruction.
The gesture, which forms part of the Bank’s commitment to helping the affected customers recover from the unexpected setback, also includes a flexible repayment plan, a three-month moratorium, and an insurance bundle from the GCB Value Added Package (VAP) insurance initiative.
The VAP is an insurance product tailored for MSEs which provides coverage for emergencies such as fire and burglaries among others.
The loan package which is being rolled out to the victims of the Kantamanto fire will be extended to those in Techiman in the coming weeks.
In an interaction with a group of affected customers from the Kantamanto Market in Accra, Sina Kamagate, Executive Head of Retail Banking, on behalf of the Managing Director, Farihan Alhassan, shared GCB Bank’s concerns for the welfare of the victims and the restoration of their businesses.
He confirmed the Bank’s determination to stand side-by-side with its customers in this difficult time and further expressed confidence in how the customers will apply the financial support to rebuild their businesses, making them 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,” he said.
“We understand the immense challenges you are facing, and we 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.
Further, the Bank offered to support its customers at the Kantamato Market who had subscribed to the VAP.
The beneficiaries have a nine-month period to pay the loan and a moratorium of three months.
“What we are doing also is to support them, educate them around lodging of their sales. So now, on a daily basis, as our e-collectors have always done, they will go to them, take their sales and include them better in the financial services sector,” he said.
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 the country.
