Consolidated Bank Ghana Ltd. (CBG) has commissioned its ultra-modern SME Centre at Kokomlemle to cater for the needs of Small and Medium Enterprises (SMEs) clients. 

Commending the Bank, the Deputy Minister of Finance in-charge of Wealth Creation, Dr. John Ampontuah Kumah applauded the Bank for its unflinching support to the SME Sector.

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

The Deputy Minister 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.

Speaking at the event, the Managing Director of CBG, Mr. Daniel Addo said the Centre provides SMEs with a one-stop shop for capacity building and financial support.

According to him, SMEs are the backbone of the Ghanaian economy, contributing about 75% of GDP and constituting almost 85% of businesses in Ghana. 

He said, at the SME Centre, experts will provide advisory services to the SMEs.

The Managing Director announced that Euromoney’s recent ranking of CBG as 2022 Market Leaders in SME is a strong complement to what the Bank has done over the last four years, granting over GH₵1.5billion to the sector. 

He also touched on the number of activities to boost the sector.  This includes:

• Introduction of a programme dubbed CBG Adesua Series.  This programme engages and educate entrepreneurs.
• Partnering with Ghana Enterprises Agency (GEA) to disburse concessionary loans totaling GHS154billion to 34,000 SMEs
• Partnering with German International Cooperation (GIZ) to train 500 Artisans by December 2022.
• Partnering GIRSAL in supporting the Agric sector

The Guest Speaker at the event, Deputy Minister of Trade and Industry in charge of MSME, Nana Ama Dokua Asiamah-Adjei commended CBG for the initiative.

“I am particularly excited about the Bank’s focus on prioritizing support towards Micro, Small, and Medium Enterprises (MSMEs) promotion for national development because 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. I wish to congratulate CBG for its profound support for the promotion of MSMEs in the country”.

The Deputy Minister further indicated that on an ongoing basis she would personally visit the Centre to see how entrepreneurs are faring.

Earlier in the day, CBG also commissioned its plush Trade Fair Branch located on Giffard Road.  The Branch re-emphasizes the Bank’s commitment to superior customer experience and convenience.

The Managing Director, Mr. Daniel Addo indicated that the Bank is 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 of Corporate Resources, Nana Ama Poku, Director of Retail and Business Banking, Emmanuel Nikoi, Director of Global Markets, John Zigah, Director of Operations, Samuel Barketey, Director of Information Technology, George Mensah, General Managers and Heads of Departments of the CBG and some customers of the Bank.