The Managing Director of the Agricultural Development Bank (ADB) PLC, Edward Ato Sarpong, has hailed the Bank of Ghana’s push for non-interest banking and finance as a transformative shift capable of reshaping Ghana’s financial landscape.
Speaking on the initiative, Mr. Sarpong described it not merely as a faith-based alternative but as a practical business model with the potential to empower small and medium enterprises (SMEs), expand access to credit, and stimulate long-term economic growth.
“Non-interest financing is about creating choices and ensuring inclusion. It gives SMEs the real drivers of our economy, the flexibility to grow without being constrained by traditional lending structures. This is how we create sustainable growth and open new doors for entrepreneurs,” he emphasized.
According to the ADB MD, non-interest products will give businesses new channels to raise capital while offering individuals, particularly those excluded from conventional banking, a meaningful entry point into the financial system.
He noted that this innovation could unlock fresh opportunities for entrepreneurs who often struggle under conventional lending models, thereby building resilience in Ghana’s economy.
Positioning ADB at the forefront of this financial transformation, Mr. Sarpong stated that the Bank is ready to play a leading role in the roll-out of non-interest banking services.
“As a Bank mandated to support national development, we are determined to lead with solutions that meet the diverse needs of Ghanaians. Non-interest banking and finance is one of the innovative tools that will help us deliver on this mandate,” he assured.
He highlighted ADB’s strong footprint in retail banking, MSME financing, commercial services, and agribusiness as a solid foundation for championing the model, while aligning it with the Bank’s “Beyond Banking…” corporate positioning strategy.
The Bank of Ghana is currently engaging stakeholders on the regulatory framework needed to operationalize non-interest banking nationwide. The initiative is seen as a bold step to expand financial inclusion, reduce barriers to credit, and create more opportunities for wealth creation.
By bridging both faith-based communities and the broader economy, non-interest banking promises to be more than a niche product; it could be a cornerstone of Ghana’s drive toward inclusive and sustainable economic development.
