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Business News of Tuesday, 5 August 2014

Source: graphic.com

Access Bank launches initiative for SMEs

Access Bank Ghana has launched a series of capacity development initiatives for small and medium scale enterprises (SMEs) across the country.

Known as the “Power Breakfast” series, it is intended to enhance SME operational efficiency and empower them with skills to improve the management of their businesses.

At the launch of the series in Accra, which was attended by about 100 SME customers of the bank, the bank’s Group Head of the Business Banking Division, Mr Fosuhene Acheampong, said the bank had created a full business division to support the needs of the SME sector through innovative banking solutions such as the Mpower Account, Payroll Management, Working Capital Finance and the use of other electronic channels and devices.

He said the series, which would be monthly, was one of the ways in which Access Bank was demonstrating its commitment to the economic empowerment of entrepreneurs in the country.

“We will bring together small business owners to enhance their capacity, explore the challenges faced by today's entrepreneurs and identify promising solutions to addressing their needs,’ he said.

The Managing Director of the bank, Mr Dolapo Ogundimu, said the bank had entered the second phase of its transformational growth, which was anchored on sustainable business practices and economic empowerment.

He said in line with the bank’s five-year strategy, it was expanding its business and personal banking franchise, and that SMEs held huge promise for economic development.

“At Access Bank, our aim is to deliver economically viable and socially relevant products and services for the advancement of the communities and economies we serve. We shall continue to look for innovative and cost-effective ways of helping your business to succeed,” he said.