Ghana: FirstBank Ghana launches SME clinics to boost economic growth

FirstBank Ghana has officially introduced a series of Micro, Small, and Medium Enterprises (SME) clinics nationwide, designed to empower business owners with essential skills and knowledge for more effective operations.

The initiative launched last week in Kasoa, attracting around 50 SME owners who took part in a full-day advisory session.

These SME clinics aim to strengthen the capabilities of business owners in key areas, including bookkeeping, corporate governance, electronic banking, and business growth strategies. Additionally, they introduce innovative trends that can enhance income and revenue for these enterprises. The advisory sessions are part of FirstBank Ghana’s comprehensive strategy to support the SME sector, acknowledged as a vital contributor to the country’s economic development.

During the event in Kasoa on August 29, 2024, Eric Fia, the Head of SME Banking at FirstBank Ghana, emphasized the bank’s steadfast dedication to fostering the growth and sustainability of SME businesses.

He stated, “At FirstBank, we prioritise our customers. These clinics are a testament to our commitment to ensuring that our SME customers receive the best guidance and stay informed about trends and innovations to improve their businesses. We understand the challenges faced by SME owners in today’s dynamic market environment. Through these clinics, we aim to provide tailored advice and practical tools that will help them navigate these challenges and emerge stronger.”

Allen Quaye, the Head of Retail Banking at FirstBank Ghana, also addressing the session, highlighted the importance of the SME sector to the Ghanaian economy.

“SMEs are the backbone of our economy. They contribute significantly to job creation and economic development. FirstBank Ghana is dedicated to empowering these businesses by providing them with the necessary skills and tools for sustainable growth and profitability,” he said.

Mr. Quaye further stated that the SME clinics are part of FirstBank’s larger strategy to drive financial inclusion and support the local economy.

“Our mission is to ensure that SMEs across Ghana have access to the resources they need to thrive. We are not just a bank; we are a partner in their success.”

Participants at the workshop in Kasoa expressed their gratitude for the initiative, commending the quality of the content presented and the practical insights they received. Many attendees emphasized the importance of the sessions focused on taxation, electronic banking, corporate governance, and strategies for revenue growth.

“The knowledge we gained today is invaluable. It will certainly help me manage my business more effectively and make better-informed decisions,” shared one of the participants.

The success of the Kasoa event has paved the way for future sessions in other communities served by FirstBank. The bank is dedicated to broadening its support for SMEs across the nation, ensuring that more business owners can access these vital advisory services.

FirstBank Ghana is part of the First Bank Group of Nigeria Limited, which is celebrating its 130th anniversary this year. The group operates in multiple countries, including the UK, DRC, Guinea, Sierra Leone, Gambia, and Senegal.