As part of its commitment to empowering small and medium-sized enterprises, GCB Bank PLC has held the Kumasi edition of its MSME Caravan Business Clinic to build the capacity of local businesses.
The event, held under the theme “MSME Unlocked: Powering Ghanaian Businesses for Sustainable Growth,” brought together entrepreneurs, business owners and industry stakeholders to equip them with practical knowledge and financial solutions to support business expansion.
The clinic forms part of GCB Bank’s commitment to promoting entrepreneurship and enhancing the growth of Ghana’s micro, small and medium-sized enterprises, which play a vital role in the country’s economy.
Speaking at the event, the Head of Micro and Small Enterprises, Gabriel Owusu Siaw, said the initiative is designed to better understand customers’ needs and co-create solutions that will help businesses grow.
He said the bank has identified three main challenges facing SMEs, including business structure, access to financing, and lack of collateral.
To address this, he announced that the bank has introduced an SME Unsecured Business Loan where customers without collateral and without financial statements can access funding based on their account activity.
According to him, under the new initiative, customers only need to open a GCB business account to access up to GH¢1 million to start or expand their businesses.
“We have introduced what we call the SME unsecured business loan, where the MSME who doesn’t have collateral can access financing, even without financial statements. All we need is for you to channel your business through your account with us. We will use your account activity to determine how much we can give you. Today we can give up to one million Ghana Cedis without collateral and without financial statements,” he disclosed.
He added that for customers who need more than GH¢1 million, there are other products that also do not require collateral.
He emphasised that beyond financing, GCB Bank is also providing non-financial support to entrepreneurs, including training on bookkeeping, business management and business formalisation to ensure sustainability and repayment.
“Our focus goes beyond financing to ensuring business sustainability. Many entrepreneurs lack the requisite business acumen and management skills, including knowing when to access credit and when not to. A business goes through three critical phases – the start-up phase where you build the foundation, the growth phase and the maturity phase.”
“At every stage, you need a banker who can provide guidance to help your business thrive. That is why we bring in specialists to train them on bookkeeping and effective business management,” he stated.
Mr Siaw added that the bank has also expanded its digital services to enable businesses to receive payments, make transactions, issue invoices and improve operational efficiency through technology.
The Head of Business Development and Ecosystems at GCB Bank PLC, Mr Abdul Mugiss Ahmed, said the initiative is designed to better understand customers’ needs and co-create solutions that will help businesses grow.
He said it also forms part of efforts to reposition the bank not just as a traditional bank, but as a transformed bank ready to support small and medium enterprises.
“Today people know GCB to be another bank, but we want people to know that GCB is a changed bank, a new branded bank that wants to go far. We want people to know that we have all the available products for our SMEs and MSMEs to transact business with us,” he stated.
Mr Ahmed explained that the focus on Micro, Small and Medium Enterprises is strategic because the sector contributes more than 90 per cent of Ghana’s economy.
“If you look at MSMEs, they are about 90 percent of the businesses in the country. They employ up to 80 percent of the workforce that we have in the country and they contribute 70 percent to our GDP. So it’s a lifeblood issue; it’s the heartbeat of the country,” he revealed.
He urged all SMEs and MSMEs to partner with GCB Bank for their banking needs to benefit from its tailored financial solutions and business advisory support.
“GCB is our bank, GCB has come to stay, GCB is the biggest bank in Ghana. We want all customers to come and experience what we have for them. We have very good products for them and as the biggest bank, we are ready to provide financing to our SMEs,” he stressed.
The activation concluded with practical sessions on business growth, financial management, digital banking and access to finance.
The Caravan created opportunities for meaningful conversations where business owners shared their ambitions, discussed challenges and received practical guidance on managing cash flow, accessing finance and building stronger businesses.
GCB Bank PLC is embarking on a nationwide SME and MSME caravan business clinic to engage customers and create awareness about its new business products and rebranded image.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source link
