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Market reshaping: Deutsche Bank grants loan facility to Ghana

19/01/2022
Categories: Companies

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Deutsche Bank is financing the expansion of West Africa's largest market. The Kumasi Market serves the Kumasi region, with a daily footfall of half a million people, including traders from neighboring countries such as Benin and Togo.

Deutsche Bank closed last week a new loan facility to finance the second part of the Kumasi market redevelopment project in Ghana, in cooperation with the UK Export Finance Agency (UKEF) and the African Export-Import Bank (Afreximbank). The €184 million financing consists of a €145 million loan backed by UKEF and a €39 million commercial loan provided by Afreximbank. Note that the Kumasi market had more than 12,000 shops and stalls, with an attendance of about half a million people per day. However, it suffered from regular fires which resulted in the destruction of stalls and the loss of livelihoods.

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