Ghana: GCB Bank Launches Insurance Package for Traders

GCB Bank PLC has introduced the “Value Added Package (VAP),” an insurance product to protect traders from unforeseen losses such as fire and illness. This comprehensive coverage is designed to safeguard businesses from interruptions.

The launch event also featured a free health screening for participants, where healthcare experts provided services like blood pressure and blood sugar checks, eye and ear examinations, optical services, and general wellness assessments. Beneficiaries received medication, counselling, and referrals for further treatment at no cost.

Sina Kamagate, Executive Head of Retail at GCB Bank, emphasised the importance of micro and small enterprises (MSEs) to the economy and banks’ obligation to provide financial assistance. The GH¢20,000 package, available to customers with a regular minimum deposit of GH¢50,000, aims to support MSEs by mitigating financial risks.

The event also included training sessions on business skills and financial literacy, covering topics such as record keeping, international trade documentation, making businesses bankable, GCB products, investment solutions, and trading technology.

The Managing Director of Makola Market Company, John Appea, encouraged traders to take advantage of the package to protect their businesses. Prof. Samuel Lartey, Vice-President of Regent University College of Science and Technology, highlighted the importance of wise planning, persistence, and financial discipline for business success.

GCB Bank’s initiative underscores its commitment to supporting traders and promoting financial stability in the business community.