CBG commissions ultra-modern SME center at Kokomlemle — Relocates Trade Fair branch

Daniel Wilson Addo (1st from left), MD-CBG, Nana Ama Dokua Asiamah-Adjei (2nd from left), Deputy Minister for Trade and Industry, Dr John Kumah (3rd from left), Deputy Minister of Finance and Nana Ama Poku, Deputy MD Corporate Resources, CBG, cutting the ribbon to officially open the CBG SME Centre

The Consolidated Bank Ghana Ltd. (CBG) has commissioned its ultra-modern SME Centre at Kokomlemle to cater for the needs of small and medium businesses.

The centre, which seeks to meet the needs of SMEs, will provide one-stop-shop services as the bank seeks to help accelerate the growth of businesses within that space.

Speaking at the official opening of the SME Centre in Accra on September 22, the Deputy Minister of Finance, Dr John Ampontuah Kumah, commended the bank for its unflinching support to the SME Sector.

According to him, SMEs account for an overwhelming proportion of employment creation in Ghana and in supporting them CBG aligns with the government’s agenda for SME growth and development.

Dr Kumah also commended the bank for partnering with the Ghana Employment Agency in rolling out the YouStart programme thus positioning the bank as the SME Bank of Choice in Ghana.

Other initiatives

The Managing Director of CBG, Daniel Addo said the centre seeks to provide SMEs with a one-stop shop for capacity building and financial support.

He described SMEs as the cornerstone of all economies worldwide with an enormous potential for growth.

He said in Ghana, the sector contributes about 70 per cent of GDP and provides about 85 per cent of employment, yet many banks were hesitant to support customers in that sector due to the perceived risk.

Mr Addo explained that Euromoney’s recent ranking of CBG as 2022 Market Leaders in SME was a strong complement to what the bank has done over the last four years, granting over GH¢1.5 billion to the sector.

He mentioned the introduction of CBG Adesua Series, a programme which engages and educates entrepreneurs and the partnership with Ghana Enterprises Agency (GEA) to disburse concessionary loans worth GH¢ 154 billion to 34,000 SMEs as some activities to boost the sector.

Others include the bank’s partnership with German International Cooperation (GIZ) to train 500 Artisans by December 2022 and GIRSAL in supporting the agricultural Sector

For her part, the Deputy Minister of Trade and Industry, Nana Ama Dokua Asiamah-Adjei, expressed excitement about the bank’s focus on prioritising support towards Micro, Small, and Medium Enterprises (MSMEs) promotion for national development.

He said the growth of our MSMEs largely depends on the financial support that is needed to be injected into viable and high-growth firms as well as start-ups.

Trade Fair branch

Earlier in the day, the bank also commissioned its Trade Fair Branch located on the Giffard Road.

The Branch re-emphasises the bank’s commitment to superior customer experience and convenience.

Mr Addo indicated that the bank was embarking on a bank-wide standardisation exercise to project the branches by making them more customer friendly.

Present at both events were, the Deputy Managing Director, Corporate Resources, Nana Ama Poku; Director, Retail and Business Banking, Emmanuel Nikoi; Director, Global Markets, John Zigah; the Director of Operations, Samuel Barketey; the Director of Information Technology, George Mensah and some managers and some Customers of the bank.