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USD5m for Ghana’s SMEs

Ghana’s UT Bank has received a USD5 million subordinated loan from the German Investment Corporation (DEG) to support small and medium-sized enterprise development in Ghana.

DEG finances investments of private companies in developing and emerging economies. The Group holds a 12% stake in UT Bank.

UT Bank has  pledged to focus on the SME sector, offering a range of tailor-made banking products and services.

The bank says it is aware of the frustrations SMEs face with financing and banking, and aims to alleviate these.

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