The Minister of Local Government and Rural Development, Julius Debrah on Saturday announced that government was working on a Small and Medium Enterprise Development Project called ‘Operation Own Your Business.’
He made the announcement at a staff durbar held at Labadi Beach Hotel to enable Fidelity Bank executives to meet staff of ProCredit Savings and Loans, which the bank recently acquired.
Speaking on the acquisition of ProCredit by Fidelity, Mr. Debrah said, ‘A marriage of this nature for me signifies a united strategy for growth and a better service to all Ghanaians, especially Small & Medium Scale Enterprises.’
According to him, ‘The role of SMEs in the development of this nation cannot be overemphasized.’
The Local Government and Rural Development Minister expressed his excitement at the merger, saying it was coming at a time when the Ministry was working on ‘Operation Own Your Business’ the Small and Micro Enterprise Development Project, which will enhance economic growth, promote equitable distribution of income and eventually help to slow down, if not eliminate the ever increasing rural-urban migration with its accompanying problems.’
Addressing the gathering, Managing Director of Fidelity Bank, Edward Effah assured ProCredit staff that their best interest will be served.
He stated that Fidelity Bank will adopt global best practices to make the strategic merger work, adding that ‘in future, the merger will be looked at as the standard for mergers in Ghana.’
BY Melvin Tarlue
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