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Business News of Monday, 17 August 2020


Coronavirus: CBG will support SMEs to stay in business – MD

The Managing Director of the Consolidated Bank Ghana (CBG), Mr Daniel Wilson Addo, has assured that the bank will support customers who are into small scale businesses to remain in trade in spite of the impact of the coronavirus pandemic.

He said the bank is determined not to allow the impact of the pandemic the thwart SMEs in the country. Speaking at Ghana’s Most Respected CEOs breakfast series under the theme: Bringing the economy back to life: the role of the banking sector, he noted that “Covid-19 has resulted in the slowdown of the economy however, banks can be essential to the recovery of the economy.”

He said “As banks, we are very much aware of this greater responsibility, because Covid-19 has taught us to show more empathy than we used to.

“We have also taken up the role of educators, and I believe we will ensure customers and small scale enterprises stay in businesses.”

Due to the impact of the COVID-19 businesses, the government has earmarked GHS600million stimulus packages to support these businesses.

The stimulus is being disbursed by the National Board for Small Scale industries (NBSSI).

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