Ghana: Over 400 SMEs Benefit From Financial Empowerment Workshop

1 June 2023
Ghanaian Times (Accra)

Consolidated Bank Ghana (CBG), in partnership with Development Bank Ghana (DBG), has trained over 400 Micro, Small and Medium Enterprises (MSMEs) under its SME Financial Empowerment (SFE) training programme.

The two-day training, which took place in Accra, offered participants the opportunity to learn more about financial literacy to support the growth of their businesses with digital skillsets.

Speaking at the event, the Head of CBG SME Centre, Mr Kwasi Amekonanye, said the programme would allow SMEs to showcase their products and attract potential buyers or suppliers globally.

"The goal of onboarding SMEs on the SFE programme is to enhance information sharing and provide financial solutions to support SME growth. This collaboration with DBG under the Ghana Integrated Financial Ecosystem programme facilitates international connections and opportunities for SMEs in Ghana; it allows them to showcase their products and attract potential buyers or suppliers, both locally and internationally," he said.

"CBG/DBG collaboration brings funding at concessionary lending rates, which are lower than usual, and thus not over-burdening to the SMEs. CBG's focus on non-collateralised cash flow lending is being enhanced by collaborating with other donor-funded programmes and thus contribute to a stronger economy by improving opportunities for women-led businesses and youth entrepreneurs too," he added.

Reiterating CBG's commitment to SME growth, the Head of SME Business, Mrs Rita Ankra-Badu, stated that the bank remained committed to providing value for SMEs

"The Bank recognises the importance of not only providing financial products, but also offering training and support to help their businesses thrive. We partnered with DBG to serve SMEs at discounted rates and with unsecured financing. The collaboration also aims to help SMEs to access financial literacy training, low-cost facilities, as well as gain access to international markets for trade," he said.

The SME Financial Empowerment (SFE) programme has been designed to transform the landscape for aspiring entrepreneurs, micro, small, and medium enterprises (MSMEs), and businesses to build foundational digital-financial literacy and enhance their understanding of essential financial services.

The programme offers a wide range of courses designed to equip businesses with the necessary knowledge and skills to thrive in the digital economy. Participants will learn how to leverage digital tools and strategies to drive growth, efficiency, and competitiveness and access finance.

Read the original article on Ghanaian Times.

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