NIB MD pledges continuous support for SMEs

The Managing Director of the National Investment Bank (NIB). Mr. Samuel Sarpong, has assured Small and Medium Enterprises (SMEs) of the bank’s continuous support to help grow and sustain their businesses. He gave this assurance when he led a 5-member team from the Head Office to visit some shops at the Okaishie and CMB Markets within the Central Business District.

Mr. Sarpong, following his recent appointment, has initiated a range of programmes aimed at restructuring the bank as part of measures to re-position it for growth. He believes direct interaction with individual customers and business operators will give management a deeper understanding of their specific needs, and thereby create tailor-made products to address their needs. Small and Medium Enterprises (SMEs) in particular have over the years lamented the challenges associated with accessing credit from commercial banks in the country, a phenomenon that makes it difficult for most SMEs to survive their first five years.

NIB is expected to become one of the strongest banks in the country following government’s assurance to recapitalise it, on the heels of a Bank of Ghana requirement for all commercial banks in the country to have a minimum capital of GH¢400million.

A revitalised NIB, according to Mr. Samuel Sarpong, will support the nation’s industrialisation agenda by making funds easily accessible to, especially, the manufacturing sectors of the economy. Mr. Sarpong also intimated that: “NIB is going to be more responsive to the needs of businesses than it has ever been. This includes the deployment of smart banking solutions and products that meet the specific needs of all our customers’’.

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He however encouraged business owners to adopt practices and strategies such as proper record-keeping, prompt debt payments, and regular savings among others to engender confidence among business partners and financial institution; thereby making it easier for them to access funds.

Mr. Samuel Sarpong was accompanied on this tour by the Deputy Managing Director, Mr. George Alfred Thompson; Accra Main Branch Manager, George Addae-Mensah; Excel Banking Manager, Aba Katu; and Newlife Selorm Kudzo Amey of the Customer Services Unit.

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