Business News

We are poised to provide relevant support to SMEs”-CBG MD


Mr Daniel Wilson Addo, the Managing Director of Consolidated Bank Ghana (CBG), says the bank is poised to provide relevant support to its Small and Medium-sized Enterprises (SME) clients.

Through CBG’s advisory services and innovative financing structures, he said the bank sought to enable SMEs to thrive during and beyond the COVID-19 pandemic.

Mr Addo speaking at the maiden edition of the ‘CBG SME Adesua Series’, on a webinar, on the theme: “Facilitating Trade Business during COVID-19 Era”, was timely to educate SME clients on alternative payment methods applied in international trade during this COVID-19 period.

This was contained in a statement from the Bank, copied to the Ghana News Agency in Accra.

He said: “It is very timely as banks are increasingly facing regulatory challenges in satisfying clients’ request for Advance Payments.

Our experience is that majority of SMEs are unaware of alternative payment methods applied in international trade or not adequately familiar with the risks associated with the different methods.

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“The ‘CBG Adesua Series’ is designed to provide some insights and clarity to participants”.

Reiterating CBG’s commitment to SMEs, Mr Addo said CBG was also committed to creating a robust partnership with SMEs.

“Our mandate is very clear, to re-imagine and re-engineer the traditional SME-funding model to fit the changing business environment.

Consistent with this mandate, we will continue to be at the forefront of servicing SMEs with products designed to meet them at their point of need”.

“As a bank, we will tap into the various business support schemes established to support SMEs impacted by the novel coronavirus (COVID-19).

I urge all to partner CBG as your trusted SME bank and let’s empower you to grow your businesses and our country at large”, he added.

On his part, Mr Haruna Seidu, Head of Trade Sales at CBG, and a Lead speaker for the first edition of the SME virtual event, reiterated that the bank was open and ready to assist the SME sector.

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“We give competitive interest rates on secured and unsecured loan facilities. We have tailored-made products for exporters and importers to help support timely payments.

“Again, we have packages for contractors, distributors, and other micro and medium business owners.

We have also designed the ‘Sika Collect Tellers’ at the market centres for the market women to make transactions easy.

CBG is here for all SMEs and we seek to grow with them through our skills and our resources,” he said.

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