Absa Bank has hailed its enduring partnership with Citi FM and Channel One TV on the annual Citi Business Festival, describing it as a strategic collaboration that continues to create significant value within Ghana’s business landscape.
Speaking on the Citi Breakfast Show on Wednesday, May 28, Cyril Nai, Head of Internal Communication and Sponsorship at Absa Bank, reflected on the evolution of the partnership, which began at the height of the COVID-19 pandemic.
“We came on board during COVID time when things were rough. So, this is our 6th year attaching our name to Citi. It has been an amazing partnership for us, and we have seen the benefits and impact on businesses,” Nai said.
“It has become something that we are happy to be part of. Furthermore, it is a strategic partnership with Citi and Channel One TV,” he added.
Nai emphasized that Absa’s involvement in the Citi Business Festival aligns with its broader mission to support customers—particularly small and medium-sized enterprises (SMEs)—on their growth journey.
“For us, it is about walking the journey with our customers. We usually partner with them because we believe in their stories, and it is about connecting their dreams and passion to resources and opportunities that would bring growth,” he explained.
Highlighting the bank’s impact, Nai pointed to Absa’s partnership with the Mastercard Foundation and the bank’s 10% interest SME loan facility as transformative initiatives for Ghana’s entrepreneurial ecosystem.
“We have done this for some time now. When we talk about ‘Your Story Matters with Absa’, it is not just a slogan for us. We walk the talk. One of the moves is the partnership we have with the Mastercard Foundation, which is helping women-led businesses, young businesses, and also within the tech space,” Nai noted.
“Through this partnership and our 10% SME loan, we have made some huge gains. Over the period, we have been able to disburse almost $110 million in loans based on the 10% interest on loans.”
“It will amaze you to note that about 57% of them are women. In terms of the businesses we have supported through this, about 8,000 are financially supported and we have done another 7,000 capacity building and development. In all these, we have been able to create over 53,000 jobs for young people,” he said.
“We don’t just give you money to do business, we ensure that your business is growing and also creating employment for people. So, we understand that every business has a story and for us, we see an opportunity of growth and sustainable development as well innovation,” Nai concluded.