ADVANS Ghana Savings and Loans Company has received a €400,000 grant from the Agence Francaise Developpement (AFD) to help boost its capital base and reach out to more small and medium enterprises (SMEs) in the country.
Advance Ghana and the AFD have subsequently signed an agreement to that effect at a ceremony in Accra.
The outgoing Chief Executive Officer of Advans Ghana, Mr Cedric Henot, signed on behalf of Advans Ghana while the AFD Resident Manager, Mr Bruno Ledlerc, signed on behalf of the AFD.
The grant is expected to help the company to create policies and procedures that would best fit the credit needs of SMEs, build the capacity of Advans Ghana’s staff, as well as train SME clients on best management practices.
Mr Cedric Henot said the grant would help the company to support ore entrepreneurs through the provision of sound financial services which have been adapted to their needs through simple credit processes and savings solutions.
He was also optimistic that in the coming years, their partnership would extend to other parts of the country to ensure that their aim of providing adapted financial services is achieved while helping the economic growth of the country.
The AFD Resident Manager, Mr Bruno Ledlerc, said the agreement signed with Advans Ghana was in the category of grants for capacity building.
He said €300,000 out of the grant would finance a technical assistance programme to build Advans’ upscaling strategy towards SMEs by its staff.
“In three years’ time, the SME portfolio should amount to GH₵3.7 million; meaning an increase by three compared to the current situation,” he explained. ????
The remaining €100,000, he said, would be used to support a Business Development Services (BDS) component to train, at least, 250 SME clients of Advans Ghana on how to run their business.
Story: Jessica Acheampong
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