Absa Bank Ghana has hosted another session of its SME Business Clinic at its Nester Square branch, bringing together small and medium enterprise owners for practical discussions on credit management, cash flow discipline and cheque management, as part of the bank's ongoing commitment to supporting business growth beyond financing.
The clinic, which forms part of Absa's ongoing SME engagement series, focused on helping business owners strengthen their financial management practices, minimise bad debts and avoid common banking challenges that can affect business sustainability.
Delivering the opening remarks, the SME Cluster Relationship Manager at Absa BankGhana, Edward Mawudem emphasised that banking had evolved beyond transactions and financing and that Absa was focused on supporting customers throughout their business journey.
"We believe banking has gone beyond just opening accounts and providing loans. We see ourselves as partners in our customers' business journey and our SME Clinics are one way we support them with the knowledge and guidance they need to grow their businesses successfully," he said.
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The Corporate Credit Manager at Absa Bank Ghana, Kesse Kwarteng, took the participants through practical credit control strategies and elucidated on the importance of managing receivables and minimizing bad debts to maintain healthy cash flow.
He emphasised that while many SMEs record strong sales, a significant portion of their revenue often remained locked in unpaid debts, which creates cash flow challenges and slows business growth.
The participants were taught how to implement clear credit policies, define payment terms before giving goods on credit, keep proper records of customers who owe, and actively follow up on payments to ensure that sales translate into actual cash for the business.
The clinic also addressed cheque management and how businesses can avoid dud cheques and related penalties, with guidance from Gabriel Okai, Head of Governance at Absa Bank Ghana. Business owners were advised to always confirm that sufficient funds are available before issuing cheques, keep simple records to track issued cheques, monitor their accounts regularly, and maintain constant communication with their bank to avoid penalties associated with returned cheques.
The clinic also featured an interactive question and answer session, where participants shared challenges they face in managing customer debts, banking transactions and business financing.
The Absa SME Business Clinic continues to serve as a platform for knowledge sharing, practical business education and engagement with entrepreneurs, reinforcing the bank's commitment to supporting SMEs with financing solutions and knowledge to build resilient and growing businesses.
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