Consolidated Bank Ghana Limited (CBG) has launched a new credit initiative aimed at transforming the fortunes of persons with disabilities (PWDs) by giving them greater access to finance for their businesses.
The CBG PWD Inclusion Loan Initiative marks a significant shift in the bank’s approach to financial inclusion, moving beyond simply helping PWDs open bank accounts to providing them with the capital and support needed to build sustainable enterprises.
The initiative was unveiled at CBG’s Disability Conference held at the Du Bois Centre in Cantonments on Friday, September 11, where senior executives of the bank and representatives of the Korklu Foundation called for a new understanding of disability and economic participation.
Rather than seeing persons with disabilities primarily as beneficiaries of assistance, the initiative seeks to position them as entrepreneurs, employers, producers, professionals and active participants in Ghana’s economy.
CBG takes financial inclusion a step further
Deputy Managing Director of CBG, Sheila Azuntaba, said opening a bank account should only be the beginning of a person’s journey into the formal financial system.
She explained that meaningful financial inclusion must give people access to the knowledge, capital and markets required to create sustainable livelihoods.
“Opening an account is an important beginning, but inclusion becomes meaningful when that account connects a person to knowledge, finance, markets, and the confidence to build a sustainable livelihood.”
Sheila Azuntaba
According to Ms Azuntaba, the beneficiaries of the new initiative were selected based on their commitment to running businesses and their potential for growth.
This, she explained, was important because the programme was designed to recognise beneficiaries for what they could achieve rather than define them by their disabilities.
The initiative therefore combines access to finance with financial literacy and responsible business management, reflecting CBG’s belief that simply putting money into a business does not automatically guarantee success.
PWD entrepreneurs get access to real credit
One of the most significant aspects of the programme is that the facilities being provided are loans rather than grants.
For CBG, the distinction is deliberate.
Managing Director of CBG, Dr Naomi Wolali Kwetey, said the move was intended to bring PWD entrepreneurs further into Ghana’s formal credit system while recognising them as capable economic partners.
She noted that persons with disabilities have ambitions similar to those of other business owners, even though conventional financial products and lending requirements may sometimes fail to account for the barriers they encounter.
CBG has consequently adopted what Dr Kwetey described as an approach of “inclusion with discipline”.
Under the model, the bank will provide concessionary pricing and carefully considered exceptions to requirements that could unnecessarily prevent viable informal businesses from accessing credit.
At the same time, CBG intends to maintain proper credit assessment, transparency, responsible lending and accountability.
The balance is important because the objective is not simply to distribute loans, but to create businesses that can survive, grow and repay responsibly.
From account opening to business growth
The latest initiative builds on CBG’s earlier PWD Financial Inclusion Programme, which onboarded 119 participants.
As part of that programme, CBG funded the minimum opening balances for participants and granted approved service-fee waivers to reduce some of the initial costs associated with entering the formal banking system.
The new loan initiative represents the next stage of that engagement.
Instead of stopping at financial literacy and access to banking services, CBG is now seeking to connect PWD entrepreneurs with actual working capital.
This could give beneficiaries an opportunity to expand existing businesses, purchase equipment, improve operations, increase production or strengthen their ability to serve customers.
For many small business owners, access to affordable capital can make the difference between remaining at survival level and moving into sustainable growth.
Korklu Foundation backs economic empowerment
The initiative is being implemented in partnership with the Korklu Foundation.
Founder of the foundation, Dorcas Naa Korklu Afotey, said the programme was designed to help PWDs strengthen their businesses, improve their livelihoods and contribute more meaningfully to their families and communities.
She stressed that disability should never become a barrier to opportunity.
Ms Afotey also urged beneficiaries to treat the loans responsibly and ensure that the funds are used to strengthen and expand their businesses.
Her message reflects one of the central ideas behind the initiative: financial inclusion becomes meaningful when access to money translates into real economic opportunity.
CBG sets sights on sustainable inclusion
CBG said the effectiveness of the programme will not be measured simply by the number of loans disbursed.
Instead, the bank intends to look at whether beneficiaries are building resilient businesses, maintaining healthy banking relationships, repaying their loans responsibly and becoming more confident users of formal financial services.
The bank also plans to develop the initiative further into a specialised credit proposition for PWD entrepreneurs.
It intends to deepen partnerships and expand responsible financing opportunities for PWD-owned businesses across Ghana.
Meanwhile, the broader goal for CBG is to change the conversation around disability and finance.
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