Managing Director of Consolidated Bank Ghana (CBG) Limited, Mr Daniel Wilson Addo says the bank will leverage technology and innovation to provide immense support to Ghana’s Small and Medium Enterprises (SME) sector.
Addo disclosed that the focus of the bank, among other projects, in 2020 would
be to provide robust support to the country’s SME sector.
This was when the CBG boss and some members of management paid a visit to the offices of Marble Communications Group Limited, producers of The Finder group of newspapers, in Accra yesterday.
The visit was the first of media appointments designed to familiarise and interact with staff of some selected media houses, give an insight into the bank’s plans for the year, and ensure that “we are all on the same footing, going forward.”
CBG has posted impressive profits not too long after its establishment and has embarked on an aggressive marketing and branding campaign, significantly increasing its visibility across the country.
“Traditionally, there have been some challenges with providing the much-needed SME support, typically where the banks are expected to be major facilitators and drivers of the SME sector,” Mr Addo said.
Management of the bank, Mr Addo disclosed, had held discussions on special focus on the SME sector and had been able to put together a workable proposition that could transform the country’s SME sector.
CBG was poised to leverage innovation and technology to boost the operations of small businesses across the length and breadth of the country.
“If you are disbursing loans to small businesses via mobile banking and technology platforms, you are able to reach out to a lot more people at lower cost and with minimum or no risk since the platform is able to ascertain the creditworthiness or otherwise of beneficiaries.”
According to the CBG MD, SME funding and growth, done seamlessly via mobile banking technology, had gained considerable success across the world, especially in East Africa and Asia, and “there is no reason why we can’t replicate that in Ghana.”
“We are ready to take off; this year is a year of growth for us and we are poised to excel in delivering to the expectation of our customers, shareholders and corporate Ghana,” Mr Addo stated.
CBG was ready to sustain the collaboration with the media in 2020 and “we will expect the same balanced reporting and will be happy to have you prompt us when we are on the wrong path.”
Head of Corporate Communications at the bank, Mrs Anita Oppong Amegah was confident 2020 would be a fruitful year for the bank, its customers and partners. On his part, Managing Director of Marble Communications Group Limited, Mr Elias Annan expressed confidence in the CBG brand, noting that the bank had accomplished so much within the short time of its formation. “This year will be a wonderful year for CBG, looking at the encouraging numbers for 2019; we are confident that with your considerable wealth of experience in the banking industry, the bank will continue to soar and become a strong market leader,” Mr Annan stated.