Mr. Dominic Adu
FIRST NATIONAL Bank Ghana, a member of the FirstRand Group of South Africa, has affirmed its support for the pharmaceutical industry in Ghana with a set of products which are intended to meet the credit needs of players in the sector.
According to Dominic Adu, Chief Executive of First National Bank Ghana, the bank’s response to the needs of the industry was designed to support all players in the full value chain i.e. from manufacturing to retailing, and from importation to distribution.
He said government, regulators, banks and the broader financial services sector in Ghana need to come together in a constructive partnership to help grow Ghana’s pharmaceutical industry exponentially in these difficult times of Covid-19.
Mr. Adu says the emerging pharmaceutical industry in Ghana has been underserved for many years, adding it was about to realise an expansion with the support of First National Bank coupled with that of government, regulators and other key stakeholders.
He said First National Bank Ghana’s parent company had supported the health sector in Africa and more importantly the pharmaceutical sector for several years, especially in South Africa, which is home to many large manufacturing and distribution companies.
“First National Bank Ghana hopes to replicate this support to the pharmaceutical sector here in Ghana which has great potential for boosting economic growth and creating jobs if the full value chain is properly funded and monitored,” Mr. Adu said, adding, “Our solution is like none other on the market because it is shaped in line with our principle to grow with our customers.”
“It is very exciting that Ghana has received the very first set of vaccines for COVID-19. This provides a sweet opportunity for the expansion of the availability, distribution and hopefully local manufacturing in the shortest possible time,” Mr. Adu said.
“Undoubtedly, First National Bank Ghana is ready to support players who have the capacity to also acquire the patents and rights to produce or buy and distribute not only the coronavirus vaccines, but other important drugs used in the treatment of infections.
“Players in the pharmaceutical value chain should be aware that our doors are always open with the right solutions to cushion them from the fallouts of the Covid-19 pandemic,” he added. “Providing funding to indigenous companies to enable them increase capacity to meet the increasing demand for health care arising from the coronavirus crisis is in line with our shared values,” he emphasised.