Universal Merchant Bank (UMB) has announced to its customers, staff and the general public that it has received funding to meet the new Bank of Ghana minimum capital requirement of Four Hundred Million Ghana Cedis (GHC 400,000,000) by December 31, 2018.
As a Ghanaian owned bank, they have always been proud of their commitment to the local economy and local businesses, investing in the success and prosperity of the nation.
“We are excited about this development, for our customers and also for Ghana. This allows us to continue the great work we have been doing, promoting the independence of Ghanaian industries. Now, we can provide funding for Ghanaian business initiatives now, and for generations to come,” Mr. John Awuah, CEO of UMB stated.
UMB has a rich history of supporting local businesses and in the past, was key in the establishment of Ghana’s first mortgage bank, as well as the Ghana Stock Exchange.
He went on to add that '' we continue to support the growth of our local economy through our increased support to SMEs, through our Centre for Businesses, as well as Government partnerships such as the 1 District, 1 Factory initiative.''