GCB manages 768 enterprises with a value of GH¢23 million- MD

Tamale, May 15, GNA- Mr Lawrence Adu-Mante, Managing Director (MD) of the Ghana Commercial Bank (GCB) has said that the Bank with its wealth of experience over the years had nurtured local business for the economic development of the country.

He said the Small and Medium Scale Enterprises (SMEs) Division of the Bank set up four years ago was managing about 768 facilities with a current value of GHc 23 million.

Mr Adu- Mante said this in a speech read on his behalf at a workshop for SME customers in Tamale on Thursday. He said the Bank had established satellite offices in Kumasi and Takoradi to bring quality services and an improved relationship with its customers. The workshop brought together SMEs from the Northern, Upper East and West Regions and had the theme: "Towards effective management and business profitability".

Participants at the workshop were lectured on Credit documentation for small and Medium Scale Enterprises, Client relationship management, Facility account operation, international trade finance for SMEs, Understanding your business as an entrepreneur and the Basic bookkeeping for SMEs. Mr Adu-Mante noted that one of the most positive stories of industrial development in post independence Ghana had been the growth and diversification of the small scale sector and the emergence of a class of first generation entrepreneurs through the ranks of the small scale industry. He said SMEs contributed significantly towards the growth of the economy and was essential for competitive and efficient market and critical for poverty reduction as well as a source of technological innovation and new products. Mr Adu-Mante said the workshop was unique for the region because of certain developments, which had brought it to the limelight to enjoy facilities such as the Millennium Challenge Account (MCA), a new sports stadium, rehabilitation and expansion of the Tamale water system and the revival of the cotton and sorghum cultivation business. He mentioned other developments such as the re-opening of the Northern Star Tomato Factory, the construction of strategic depot for petroleum products and the reconstruction of the Wa-Bamboi road. The MD said unlike other Banks, which closed down their branches when they were not making profits GCB had stayed to offer banking services and support.

"You are our partners and we will never shun your companies because we believe in the ability of SMEs to provide employment, especially new jobs in most communities and to rekindle economic activities," he added. Alhaji Mustapha Ali Idris, Northern Regional Minister urged the GCB to open new branches in the region and introduce facilities such as mobile banking to bring banking services to the doorsteps of the people. He also urged the bank to intensify its public relations drive by educating the people on the facilities and opportunities they offer. The Regional Minister called on the chiefs of the region to impress on their people to continue maintaining the peace it is enjoying and noted that all the current developments taking place as a result of the relative peace in the area. 15 May. 08