GCB manages 768 Enterprises - MD

Tamale, May 16, GNA - Mr. Lawrence Adu-Mante, Managing Director of the Ghana Commercial Bank, has said 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 was managing about 678 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. The workshop that brought together SMEs from the Northern, Upper East and West regions had as its theme: "Towards effective management and business profitability". Mr. Adu-Mante said 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 engine of growth and were 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 that had brought the region to the limelight such as Millennium Challenge Account (MCA), the new sports stadium, rehabilitation and expansion of the Tamale water system, revival of 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. Mr Adu-Mante said unlike other banks that 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 company 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 in educating the people on the facilities and opportunities they can offer the people. He appealed to chiefs of the region to impress on their people to continue to maintain the peace the region was enjoying and noted that all the current developments taking place are as a result of the relative peace in the area.