Adansi Rural Bank, GIZ empower MSMEs

Adansi Rural Bank Plc at Fomena in the Adansi North District of Ashanti Region in partnership with GIZ, a German Development Agency has launched a project to empower Micro Small Medium Enterprises (MSMEs) with its flagship ‘Adwuma Nkosuo’ product.

This product will provide flexible and affordable financing for MSMEs and address key financial challenges, unlock growth potential and empower small business owners to scale up their business activities.

A release issued by the bank said ‘Adwuma Nkosuo’ product is a tailored financial solution created to meet the specific needs of MSMEs, including lower interest rates, flexible repayment options suited to business cash flows, and alternative collateral choices to enhance accessibility.

It said beyond financing, beneficiaries would also receive capacity-building — training, mentorship, and strategic market linkages to help their businesses thrive.

The Chief Executive Officer (CEO) of Adansi Rural Bank Plc, Daniel Amponsah, expressed the bank’s commitment to helping scale up the businesses of their clients stating that MSMEs were the backbone of the Ghanaian economy that drove job creation, innovation, and community development.

However, he emphasised that access to finance remained a major challenge for many small businesses; hence, the reason to introduce this transformative product — designed to bridge the financing gap, empower entrepreneurs, and fuel sustainable business growth.

He advised ‘masters’ of artisans and apprentices who were potential beneficiaries of the product to exhibit a great sense of loyalty and integrity in their dealings with the bank to enhance their business relationship for symbiotic business growth and benefit.

Benefits

The release further said the product has special consideration for women and youth artisans because of their significant contributions to job creation and ultimately the economic growth of any thriving and growing economy.

“The Adwuma Nkosuo product is designed to provide fast financing options for MSMEs. Options under the product are Adwuma Nkosuo Savings, Fabisie (Flexi-Save FD), Adwuma Nkosuo Individual Loans and Adwuma Nkosuo Group Loans.

The product benefits include easy access to loans, competitive interest rates, flexible savings plans, flexible loan repayment, free financial advisory services, the ability to meet clients’ deadlines and financial inclusion,” it added.

GIZ PFS programme

The release said the business-changing product came about as a result of the GIZs Private and Financial Sectors in Ghana (PFS) programme where nine banking sector institutions, of which Adansi Rural Bank PLC is included, developed the ‘Adwuma Nkosuo’ Savings and Loans Products with technical support assistance from GOPA APC in consortium with CDC Consult under the "Capacity Building for Banking and Microfinance institutions on MSME Product Development.

This initiative is designed to provide demand-driven financial services tailored to the needs of MSMEs with an overarching goal of fostering business growth and creating employment opportunities for many job seekers, especially women and the youth.