NIB MD pledges continuous support for SMEs

NIB MD pledges continuous support for SMEs
Source: Ghana|Myjoyonline.com | JoyBusiness |AI
Date: 12-07-2019 Time: 05:07:36:pm

The Managing Director of the National Investment Bank (NIB) has assured Small and Medium Enterprises (SMEs) of the bank’s continuous support to help grow and sustain their businesses.

Samuel Sarpong gave this assurance when he led a 5-member team from the Head Office to visit some shops at Okaishie and CMB Markets within the Central Business District.

Following his recent appointment, Mr. Sarpong has initiated a range of programs aimed at restructuring the bank as part of measures to re-position the bank for growth.

He believes direct interaction with individual customers and business operators would give management a deeper understanding of their specific needs thereby, tailor-make products to address their needs.

Small and Medium Enterprises (SMEs) in particular have over the years lamented the challenges associated with accessing credit from commercial banks in the country, a phenomenon that makes it difficult for most SMEs to survive their first five years.

NIB is expected to become one of the strongest banks in the country following government’s assurance to recapitalize it on the heels of a Bank of Ghana requirement for all commercial banks in the country to have a minimum capital of ¢400 million.

A revitalized NIB according to Mr Sarpong believes will support the nation’s industrialization agenda by making funds easily accessible to especially, the manufacturing sectors of the economy.

He also said, “NIB is going to be more responsive to the needs of businesses than it has ever been. This includes the deployment of smart banking solutions and products that would meet the specific needs of all our customers’’.

The new MD however encouraged business owners to adopt practices and strategies such as proper record-keeping, prompt debt payments, regular savings among others to engender confidence among business partners and financial institution thereby, make it easy for them to access funds.

Mr Sarpong was accompanied on this tour by the Deputy Managing Director, George Alfred Thompson; Accra Main Branch Manager, George Addae-Mensah; Excel Banking Manager, Aba Katu and Newlife Selorm Kudzo Amey of Customer Services Unit.