Ghana: Absa Bank, GNCCI collaborates to empower SMEs

By InstinctBusiness Sep 24, 2024 0

Absa Bank Ghana LTD has collaborated with the Ghana National Chamber of Commerce and Industries (GNCCI) to host a Business Clinic designed to empower small and medium-sized enterprises (SMEs).

The event, titled “Ignite the Potential of SMEs: Unleashing the Full Capabilities of Entrepreneurs,” aimed to equip SMEs with practical strategies for securing financing, embracing technology, and establishing sustainable business practices. The audience included women and youth entrepreneurs, as well as agribusiness owners.

In his keynote address, Edward Nartey Botchway, Managing Director of Absa Bank Ghana, reaffirmed the bank’s commitment to supporting SMEs through customized financing solutions and capacity-building initiatives.

“Empowering SMEs is not only about providing funding; it is also about building capacity. Absa Bank is committed to providing SMEs with access to finance while building their capacity for growth.

“Our SME loan at 10% per annum provides financial support, and platforms like this SME Business Clinic give us the opportunity to build capacity through targeted training. We are invested in your business stories and will continue to fund and build the capacity of Ghanaian SMEs.”

Mr. Michael Bozumbil, CEO of Petrosol Platinum Energy Ltd, also addressed the participants, offering practical solutions for birthing, nurturing and sustaining a business.

The event included interactive sessions and a solutions desk where SMEs consulted with financial experts. There was a special focus group discussion curated for the female entrepreneurs who were present, titled ‘Breaking Barriers and Building Resilience.’

Frederick Adu Amoako, Chief Operations Officer of GNCCI, speaking on behalf of the Chamber’s CEO, Mark Badu Aboagye, added, “The Chamber of Commerce and Industry plays a very significant role in shaping the growth of businesses in the country, especially SMEs.

It is in this regard that the Chamber has partnered with Absa Bank Ghana Limited, as well as GWO SEVO Solutions, to organize this event, and we thank you very much for this collaboration.”