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Business News of Friday, 23 August 2019


UMB sensitizes SMEs on cash management

Universal Merchant Bank (UMB), has engaged Small Medium Enterprises (SMEs) on effective management of businesses, especially on their cash cycle.

The conference dubbed: “SME Clinic Programme was held in Kumasi on August 21, 2019.

The Consulting Director, Credit of UMB, Mr Eyram Atsu in an interview with the Goldstreet Business said the program was initiated to build a strong partnership with customers.

“UMB wants to build stronger partnership with our customers we consider it a laudable idea. It will help the customers know how the bank analyse businesses on factors they consider, such as performance, book keeping and quality management” he said.

The SMEs were educated on the importance of retaining their customers.

He said it was important for businesses to adopt new approaches in order to maintain and sustain the interest of the customer.

He mentioned that investors who manage their own businesses must develop their capacity or skills in order to understand their business very well.

Mr Atsu indicated that the UMB has established an ‘SME Centre’ to provide customers with quality customer services.

He however said, customers must provide the bank with adequate information where necessary in the application of an overdraft so as to eliminate complications.

UMB has also pledged to re- engage clients on the sensitization program so as to understand the pros and cons of their businesses, especially on the bank’s facility application as interest rate has been reduced to 18 percent.

“We think that the more our customers get educated on the kind of information they have to present before we consider them for facility, the more they understand this information and how to submit them. It will enhance their capacities of getting facilities from the bank”, he noted.

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