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In Ghana, Proparco’s USD 25m loan to First National Bank Ghana Limited (FNBG) is part of a financing package of USD 85m alongside DEG, FINNFUND and NORFUND. This financing will support the bank’s debt and the growth in its activity, in particular for the SME segment.
Client presentation

First National Bank Ghana (FNBG) is the subsidiary of the South African FirstRand (FRL). FRL is the leading African banking group by its market capitalization. FNBG is a young bank in Ghana: it obtained its licence in 2015 and really started its activities in 2017. As a universal bank, FNBG provides financial services to all segments of the corporate client base, from SMEs to large corporates. FNBG also serves the retail market. As part of its growth strategy on the Ghanaian market, in late 2018, FNBG decided to acquire the bank GHL. GHL is the specialist and leader in Ghana on the real estate loan market, mainly for low-income households.

Project description

The project involves setting up a USD 25m senior credit line to FNBG. The loan provided by Proparco is part of a financing package of USD 85m alongside DEG, FINNFUND and NORFUND. The financing will be firstly earmarked to support GHL’s debt, which is now carried by FNBG, and, secondly, to support the growth in the bank’s activity, especially for the SME segment, in line with France’s strategy via the Choose Africa initiative. 

Project impact

We estimate that Proparco’s support for this operation will: 

  • Maintain 55 direct jobs and create 15 additional jobs, for a total of 70 direct jobs “attributable” to Proparco’s financing out of FNBG’s 699 direct employees over the next 5 years, including 280 women, and support 4,170 indirect jobs associated with the 85 SMEs and midcaps which may benefit from Proparco’s financing. 
  • Develop the growth of GHL’s  SME activity at FNBG. The institution plans to serve 425 SMEs over the next 5 years and develop its network of branches to better meet the needs of its clients.  
Date of signature of the project
Financing tool
22 864 459 Euros
Amount of funding
USD 25m senior loan
Financing details
First National Bank Ghana Limited