Universal Merchant Bank (UMB) has reaffirmed its commitment to supporting the growth and sustainability of small and medium-sized enterprises (SMEs) in Ghana through digital innovation, reliable banking services and accessible financial solutions.

The commitment was highlighted at the launch of the ICC–TikTok Digital Commerce Labs in Ghana, held under the theme “Unlocking Growth: Helping Ghanaian Small Businesses Harness Digital Commerce” at the University of Ghana's Cedi Auditorium in Accra.

Speaking on behalf of UMB's Chief Executive Officer, Dr Philip Oti-Mensah, Bernice Asabea Kissi Boateng, Group Head, Personal and Business Banking (PBB), said digital commerce was creating new opportunities for Ghanaian businesses to expand their reach, attract customers and compete in wider markets. However, he stressed that businesses needed more than online visibility to achieve sustainable growth.

She noted that while digital platforms could help entrepreneurs generate sales, businesses also required secure payment systems, effective cash management, access to financing and reliable banking partnerships to scale successfully.

“Small businesses are the heartbeat of Ghana's economy,” she said, adding that many entrepreneurs were held back not by a lack of talent or ambition, but by limited access to customers, skills, payments and finance.

She explained that UMB's participation in the initiative reflected the bank's longstanding commitment to helping Ghanaian businesses start, stabilise and grow, a role it has played since 1972.

She emphasised that reliability remained central to the bank's approach to serving SMEs, describing it as a commitment to dependable payments, accessible services and consistent customer support.

As part of its efforts to support businesses, she highlighted UMB's digital solutions, including its Virtual Account, which enables businesses to collect and reconcile payments, and SpeedApp, which gives business owners access to banking services wherever they operate.

She added that the bank's wider suite of digital payment solutions was designed to make transactions, whether online or in person, simpler, more secure and dependable.

She further underscored the importance of customer-focused innovation, noting that technology must be designed around the actual needs and experiences of business owners.

She described the partnership between UMB, the International Chamber of Commerce (ICC) Ghana and TikTok as an important opportunity to combine digital visibility, entrepreneurial skills and financial inclusion to support business development.

Meanwhile, the Deputy Minister of Communications, Digital Technology and Innovation, Mohammed Adams Sukparu, urged SMEs to leverage digital platforms to increase sales, create sustainable jobs and access international markets.

He said Ghana's digital transformation ambitions must go beyond getting businesses online to ensuring that digital visibility translates into tangible economic opportunities.

According to him, the Digital Commerce Labs would equip SMEs, young entrepreneurs and content creators with practical skills in content creation, brand development, social commerce, e-commerce, financial literacy and digital payments.

He also highlighted ongoing government initiatives, including the One Million Coders Programme and the 24-hour economy agenda, as part of efforts to strengthen digital capabilities and expand employment opportunities.

The Deputy Minister disclosed that work was progressing on a National E-commerce Strategy to strengthen the policy and institutional framework for digital trade, particularly in payments, logistics, consumer confidence and market access.

For her part, TikTok's Head of Government Relations and Public Policy for Southern Africa, Tholoana Ncheke-Mahlaela, said the partnership with ICC was informed by the growing role of digital platforms in connecting businesses with customers.

She explained that TikTok had evolved beyond entertainment into a discovery and search platform that enables businesses to reach new audiences and attract potential customers.

The Acting Chair of ICC Ghana, Mohamed Samara, said the initiative would help young people transition from job seekers to job creators by equipping them with the knowledge and tools to establish and grow businesses.

He noted that ICC would support entrepreneurs with knowledge of local and international trade practices, regulatory requirements, contractual obligations and the protection of commercial interests.

Also speaking at the event, UMB's Head of E-Business, Tubour Offei Agyemang, highlighted the growing importance of digital platforms in modern business operations, noting that businesses were increasingly moving their marketing and sales activities to social media to connect with customers.
He cited UMB's SpeedPay merchant payment platform, which allows businesses to receive payments through QR codes and payment links, as part of the bank's efforts to improve payment convenience and customer experience.

The Digital Commerce Labs initiative is expected to provide practical support to SMEs, young entrepreneurs and digital content creators, helping them harness technology, strengthen their business capabilities and access opportunities in Ghana and beyond.

Dr Oti-Mensah encouraged participating entrepreneurs to take full advantage of the programme, engage with the partners and connect with UMB as a reliable banking partner.

He reaffirmed the bank's readiness to support businesses throughout their growth journey, stressing that the expansion of small businesses contributes to job creation, stronger households and national economic prosperity.