Ghana: GCB holds seminar to build capacity of SMEs through digital transformation

GCB Bank PLC has held a seminar to build the capacity of Small and Medium Enterprises (SMEs), with primary focus on the crucial role of digital tools in enhancing business operations in today’s competitive world.

The seminar themed “Empowering Growth: Optimizing People and Resources for the Digital Era” was also meant to empower the SMEs on accessing funding as well as understanding the dynamics in the market in order to be able to tackle all the challenges that pertain in that space.

The seminar, held in Accra, focused on topics such as global SME trends with focus on digital innovations and introduction to the Ghana Integrated Financial Ecosystem (GIFE).

Digital Transformation

The Managing Director of GCB Bank, John Kofi Adomakoh, mentioned that digital transformation was not just a trend but a necessity for businesses to thrive in today’s fast paced and competitive environment.

“We have looked at our SME programmes all over again and we have a new proposition. The world is changing and we have to change very fast so that we are not left behind. The world today is being driven by data and technology. Leveraging digital tools can help you better understand and serve your customers, improving satisfaction and loyalty. Technology is becoming very important and everybody must get involved. If SMEs are going to push the economy forward then you people must get involved,” he added.

For his part, the Executive Director Wholesale and Investment Banking of GCB Bank, Sam Aidoo outlined the significant contribution of SMEs to the Ghanaian economy and reiterated GCB’s commitment to partner businesses for growth.

“In Ghana today, SMEs constitute about 92 percent of all registered companies in the country. They contribute about 85 percent of employment in the manufacturing sector. If you take SMEs away from Ghana, we would be in significant trouble. SMEs are undoubtedly the backbone of Ghana’s economy,” Mr Aidoo said.

“At GCB, we are not just a financial institution. We are your partner for growth. We understand the challenges and opportunities that SMEs face and we have made significant changes, particularly in our SME commercial banking department to be able to address their needs adequately.”

“We have restructured our SME banking. We are available all around the country. This decentralized structure helps us to segment our clients and support them,” he added.

Source: myjoyonline.com