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Business News of Sunday, 27 May 2018

Source: Fidelity Bank Ltd

Fidelity Bank Ghana increase support to SMEs

Participants at the Summit

Fidelity Bank Ghana has disclosed their readiness to increase support in the form of unique products, specialized services and financial & technical assistance to grow and expand Small and Medium Scale Enterprises (SMEs) in the country.

This was made known at the bank’s SME summit held at the Accra Citi Hotel in Accra. The summit was held for businesses and SMEs to interact and share ideas on the business environment in Ghana and how the bank can lend more assistance to their SME clients.

Espousing the bank’s interest in the growth of SMEs, Director of Commercial and SME Banking at Fidelity Bank, Nana Esi Idun-Arkhurst, stated, “As one of the top 7 banks in Ghana, we are very much committed to the growth and success of SMEs since SMEs support the general economy to expand. We are ready to work together with all businesses to identify risks early in order to properly manage those risks.”

Fidelity Bank has unique products and services that meet the needs of SMEs and we are ready to offer any form of assistance to businesses no matter their challenges, she indicated.

The Director of Finance of Fidelity Bank, Mr. Atta Gyan, explained to businesses why Fidelity Bank is the bank of the moment and why SMEs must continue to transact business with the bank. He educated SMEs on the factors that constitute a strong bank and how the bank is performing in terms of its capital adequacy ratio, liquidity position, quality of earnings and quality of management and staff.

He added that businesses must trust local banks like Fidelity Bank since the bank has recorded consistent higher performance for over 10years now.

Other officials of the bank also encouraged SMEs to utilize services like ‘Letters of Credit’, ‘Documentary Collections’, ‘Open Accounts’ and ‘Advance Payment’.

SMEs were also exposed to the process involved in online transactions using the bank’s Internet Banking Platform. Another important service, the Collections Management System, which is a dynamic collections tool that offers convenience for establishing collection agreements with businesses was also meticulously explained to the understanding of SMEs.

The interactive session saw most SMEs voicing out their challenges and receiving real-time solutions from Relationship Managers of the bank.