Ghana: Stanbic Bank commits to cultivating the next generation of local businesses

Kwamina Asomaning, the Chief Executive of Stanbic Bank Ghana, has highlighted the bank’s dedication to fostering the nation’s growth by nurturing and empowering the next generation of local Ghanaian businesses.

During a recent working visit to Lesfam Industries, one of the bank’s valued corporate clients, Mr. Asomaning made this statement.

The visit was part of the bank’s strategy to engage with clients during Customer Service Week. Mr. Asomaning emphasized Stanbic’s mission as an institution, which is to promote the development and progress of local enterprises.

“What stands out about this client is the impressive journey from being a distributor to becoming a producer, demonstrating a strong vision and resilience. We have been privileged to walk alongside them every step of the way, providing support and partnership as they successfully established their manufacturing facility. It’s a proud moment for us to witness their transformation and growth,” he said.

The Stanbic Bank Chief Executive commended the founders of the company for their exceptional business acumen.

“This business is where it is today because of the vision of the founders, Mr. and Mrs. Adjei-Mensah. They took the time to thoroughly understand the industry before making the decision to invest, which was a crucial factor in their journey.

“Their dedication to understanding both the supply chain and value chain before taking action is truly inspiring. Furthermore, their disciplined approach to maintaining both the manufacturing and distribution aspects of the business has been instrumental in their growth,” he said.

He continued, “This approach has provided them with funding flexibility and additional income streams, complementing the financing they receive from the bank. By investing in state-of-the-art equipment and maintaining control over the entire supply and value chains, they have minimized external pressures from suppliers and competitors, protecting their market strategy from disruption.”

Mr. Asomaning highlighted what differentiates Stanbic Bank from its competitors in providing financial services. “What sets Stanbic apart is, first and foremost, that we are an African bank with a clear purpose: Africa is our home, and we drive her growth. This focus on the continent is at the heart of everything we do.

“In Ghana, our strength lies in being a full-service bank, offering comprehensive commercial, corporate, and investment solutions. For clients seeking a trusted partner, we take the time to understand their businesses deeply and develop tailored solutions that meet their unique needs. We believe that no one does this better than Stanbic.”

Lesley Anita Adjei-Mensah, CEO of Lesfam Limited, expressed her deep appreciation for the unwavering support her company has received from Stanbic Bank over the years.

Reflecting on their business journey, she said, “Our relationship with Stanbic Bank has been a game-changer for us. We’ve been banking with Stanbic for the past five years, and the partnership has been nothing short of remarkable. From the very beginning, Stanbic stood out because they not only understood our vision but also believed in it, committing to walk with us every step of the way.

Their support was instrumental in helping us kickstart our manufacturing operations, and we couldn’t have achieved this milestone without their backing. We are sincerely grateful for their consistent dedication and for going above and beyond to ensure our success.”

Lesfam Company Limited is a prominent player in the manufacturing and distribution industry, specializing in both Ghana-made and imported foods, beverages, and other consumer goods.

With over five years of solid experience, the company has established itself as a key player in the distribution sector, supplying products to various supermarket chains and businesses across Ghana. Stanbic Bank’s support to the business has been critical in the transformation of the company from a distributor to a diversified group of companies, now including our own manufacturing facility.