Ghana: NIB Reiterates Continuous Support for SMEs

The National Investment (NIB), has assured small and medium enterprises (SMEs) of the bank's continuous support to help grow and sustain their businesses.

The Managing Director of the National Investment Bank (NIB) Mr Samuel Sarpong who gave the assurance when he led a five-member team from the head office to visit some shops at Okaishie and CMB Markets within the central business district said the SME sector remained a critical area of focus for the bank.

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

"I believe that 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," he said.

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 recapitalise 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 Cedis.

A revitalised NIB according to Mr Sarpong would support the nation's industrialisation agenda by making funds easily accessible to especially, the manufacturing sectors of the economy.

Mr Sarpong also intimated that, "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."

He 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, Mr George Alfred Thompson, Accra Main Branch Manager, George Addae-Mensah, Excel Banking Manager, Aba Katu and Newlife Selorm Kudzo Amey of Customer Services Unit.

See What Everyone is Watching

More From: Ghanaian Times

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.