Societe Generale Ghana held a meeting in Ghana with women business owners to discuss financing, company development, business sustainability and banking support for scaling up. Participants were able to speak directly with the bank’s management and share their own experiences, obstacles to running a business and opportunities for further growth.
As MyJoyOnline reports, the event is part of the bank’s work to study financing and business-support challenges faced by women-led enterprises. Societe Generale Ghana noted that such discussions help make banking products, services and customer support more suited to the needs of women company owners.
Programs for women entrepreneurs
Societe Generale Ghana Managing Director Hakim Ouzzani stated the bank’s intention to support Ghanaian companies with potential for growth, competition and creating long-term value. According to him, the bank’s task is to understand the obstacles entrepreneurs face and support them in developing their businesses.
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Company Secretary Angela Bonsu presented the SG Woman offering, aimed at women-led businesses. Companies that meet the program’s requirements can obtain loans with minimal or no collateral, personalized support from a manager, free mentoring through partner programs, as well as consultations and training within SG Home of Business.
Financing tools
Participants were explained the bank’s approaches to assessing creditworthiness and the available solutions for different stages of business development. These include overdrafts, revolving advances, invoice discounting, factoring and purchase order financing.
Long-term instruments were also discussed, including term loans, financial leasing and green financing for investments in solar energy and electric vehicles. Participants were advised to select financing with regard to their companies’ cash-flow cycles. The Privilege Banking product was separately presented, covering the personal financial needs of business owners, including mortgage solutions and home insurance.
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