CBG Boss, Daniel Wilson Addo
Consolidated Bank Ghana Ltd. (CBG) has raised a capital of GH¢350 million for Kasapreko Company.
This achievement underscores the bank’s mission to empower local enterprises and drive economic resilience in the country.
Since its inception six years ago, CBG has disbursed over GH¢1.6 billion in loans to more than 5,600 businesses across sectors such as energy, tourism, and agriculture, reflecting its dedication to providing meaningful financial solutions to Ghanaian enterprises.
CBG’s Corporate and Institutional Banking (CIB) division plays a central role in supporting local businesses, offering customised financial solutions through its specialised Syndications and Capital Markets (SCM) department.
The SCM department has spearheaded substantial transactions, including a GH¢1 billion syndication for the power sector, a USD29.6 million financing for Ghanaian-owned hotels, and the GH¢7.93 billion COCOBOD exchange programme, solidifying CBG’s role as a key financial partner.
The success of the Kasapreko capital raise can be traced back to the strategic vision and dedicated efforts of CBG’s CIB division, particularly its SCM department.
Established as a specialised unit within CIB, the SCM team conducted a thorough analysis that identified the benefits of capital market financing for the leading indigenous beverage manufacturer, Kasapreko.
After conducting a detailed financial assessment, the SCM team proposed this alternative to traditional funding methods, recognising the potential to secure more affordable and patient capital for Kasapreko’s operations.
Kasapreko, a longtime client of CBG, responded positively to the SCM team’s proposal. As a Co-Lead Arranger for the transactions, CBG’s SCM department played a pivotal role in the successful execution of the deal. The financing programme, which commenced in February 2024, was structured as a GH¢600 million Note Programme, with the first series raising GH¢150 million. The second series, completed in September 2024, secured an additional GH¢200 million, also oversubscribed.
This landmark transaction not only sets a new benchmark for capital raising in Ghana but also demonstrated the growing sophistication of the country’s capital market in supporting indigenous businesses. The total programme size provides Kasapreko with substantial financial flexibility for its operations and expansion plans, particularly within the African Continental Free Trade Area (AfCFTA).
CBG’s achievement in raising GH¢350 million for Kasapreko reinforces its leadership in structuring innovative financial solutions for local companies. This success story is testament to the bank’s unwavering commitment to empowering Ghanaian enterprises and driving economic development across the country.
A Business Desk Report