Small and Medium Scale Enterprises will need to concentrate more on expanding their capacity in obtaining new skills and techniques, according to Managing Director of SG Bank Ghana, Hakim Ouzzani.

This, according to him will help to draw additional investments to boost the SME sector.

He stated that the bank is embarking on several projects to support small businesses in marketing and promoting their products to benefit the economy at large.

Speaking to Joybusiness during a signing ceremony of the SG Bank and the African Guarantee Fund, Mr. Ouzzani revealed that the bank's primary goal is to bring small and medium-sized businesses across the country to improve their technological literacy.

“We need to take a more comprehensive strategy to supporting our SMEs than merely providing funding so that they may acquire new skills that could attract more investment. “He said

With small and medium enterprises generally lacking  economies of scale and incurring high costs in acquiring and utilizing technologies, Mr. Ouzzani revealed that the partnership with the African Guarantee Fund provides a support of over 35 million dollars to SMEs that tend to have limited access to timely and accurate information on market opportunities, financing and technology advances.

"Our partnership with African Guarantee Fund comes at a good time where we will support them with over 35 million dollars to expand their operations, “he maintained

Francoisse Pouse, the Bank's Deputy Managing Director, asserted that the partnership will deepen the connection between the bank and its customers.

 ‘We have to work more with our customers to ensure things are in order. These SMEs are the back-bone of most economies”

Bendjin Kpevor, Managing Director of the African Guarantee Fund, outlined the need for the alliance and stated that his company is committed to pursuing other alliances with Anglophone nations.

 “We have worked with the majority of the francophone nations, so I believe it is now time to cooperate with more Anglophone nations.”

The signing event is expected to fully provide support to Small and Medium Enterprises to a tune of 35million dollars. SG Bank is poised to use this partnership to provide a much-needed jolt to reverse any possible economic stagnation small and medium sized enterprises go through.

The African Guarantee Fund for Small and Medium Enterprises over the years have contributed to the promotion of economic development vital for prosperity, stability and poverty reduction in Africa by enabling SMEs have increased access to financing