GCB Bank empowers construction firm with asset financing
GCB Bank PLC has financed and handed over 200 heavy-duty machines and construction vehicles to Timeline and Innovations Company Limited, a Ghanaian owned construction and logistics company.
The intervention aims to strengthen the company’s capacity to execute major road and infrastructure projects under the government’s Big Push initiative.
The bank financed the acquisition to help the construction company to secure the equipment needed to accelerate project delivery, expand indigenous participation in infrastructure development and create jobs within the construction sector.
The fleet comprised of tipper trucks, service trucks, water tankers, flatbeds, bulldozers, graders, excavators, wheel loaders and backhoes.
The rest were steel rollers and tyre rollers supplied by machinery dealers including Zonda, SMT Ghana and Sino Tec Machinery Ghana (SMG).
Timeline and Innovations Company Limited currently ranks among the leading contractors undertaking major road construction works across the country under the Big Push programme.
The commissioning ceremony in Accra last Tuesday evening brought together government officials, executives of GCB Bank, staff of Timelines and Innovations Company Limited and some Ghanaians.
The investment is expected to strengthen project delivery, improve safety standards, modernise operations and contribute significantly to Ghana’s long-term economic transformation.
Support
The Board Chairman of GCB Bank PLC, Professor Joshua Alabi, said the bank supported the company because it believed Ghanaian contractors could successfully execute major national projects when they received adequate financial backing.
He said GCB Bank was the leading financial institution supporting contractors working under the government’s flagship infrastructure agenda.
“Currently, GCB Bank is supporting over 60 per cent of contractors engaged under the Big Push programme. This shows that GCB Bank is actively contributing to Ghana’s future," Prof. Alabi stated.
The GCB Bank Board Chairman said the partnership demonstrated how targeted financing could create lasting economic impact through local enterprise growth.
He added that beyond roads and bridges, such investments created jobs, strengthened local expertise and stimulated communities.
Development priorities commitment
The Managing Director of GCB Bank, Farihan Alhassan, described the transaction as a clear demonstration of the bank’s commitment to Ghana’s development priorities.
He stated that GCB’s support extended beyond traditional financing, focusing instead on empowering local enterprises to undertake transformative projects.
Mr Farihan added that the bank had committed close to GH¢5 billion towards the Big Push agenda and national infrastructure development, with Timeline as one of its key strategic partners.
Turning point
The Chairman of the company, Inusah Ousman, who received the equipment on behalf of the company, described the investment as a turning point in the company’s growth.
He said the expanded fleet would significantly increase the company’s operational capacity and position it to undertake larger and more complex infrastructure projects across the country.
Mr Ousman further disclosed that the acquisition would directly create more than 800 jobs immediately, with the company targeting over 10,000 employment opportunities by the end of the year through expanded project activity and related economic opportunities.
The deployment strategy includes a 24-hour operational system involving over 1,000 trained drivers and machine operators to ensure accelerated project execution nationwide.
The Deputy Minister of Roads and Highways, Alhassan Sayibu Suhuyini, who witnessed the handing over, commended the collaboration between the bank and the construction company, saying it was a practical example of how financial institutions and the private sector could support government’s infrastructural agenda.
He said such partnerships were critical to ensuring local contractors had the capacity to deliver quality projects on time while creating jobs for Ghanaians.
