Izwe Savings & Loans Plc has earmarked GHS150m to support the Small and Medium Enterprise (SME) sector this year. This commitment aims to strengthen the resilience of specific sectors and enhance their capacity to grow and create employment in the economy.
SMEs remain a critical sector of the economy. Building resilience amid COVID-19 remains a challenge for most SMEs to resolve. The Government statistician Professor Samuel Kobina Annim asserts that “COVID-19 has undoubtedly had a devastating impact on households, businesses and the local economy in Ghana”
As a development oriented financial institution, Izwe Savings & Loans Plc is poised to work together with SMEs in identifiable segments as such wholesalers and retailers in the building materials, beverages, frozen foods, spare parts, second-hand clothing, pharmaceuticals, stationery, healthcare, education, agriculture, and transportation subsectors.
The Chief Executive Officer, Raymond Kwakye Bismarck reiterated that, “analysing the continuous impact of COVID-19 on SMEs, we have come to the realisation that it is important to do our bit as a business with the resources, facilities and know how to help businesses get back on their feet because without them the economy suffers.”
Izwe Savings and Loans Plc is a subsidiary of the Izwe Africa Group, which is headquartered in Mauritius and has operations in South Africa with subsidiaries in 3 other African countries, Zambia, Kenya and Ghana. After 10 years of doing business in Ghana, Izwe has 10 retail outlets and currently seeking approval for 2 more branches in Tema and Kasoa as well as 4 sales centres in 8 regions of Ghana. The company proudly employs over 200 staff over 500 trusted agents across the country.
Izwe has been able to provide educational support to 138,166 people; enhanced the home and family lives of 88,142; helped 25,421 businesses to grow in three, years and helped 21,360 people save for their future. In the past year alone, Izwe has supported 285 SMEs. The impact of this support on businesses has been great hence the need to extend this support to all SMEs who need it.
With support from the Izwe Africa Group, whose successful track record remains undoubted across Africa, Izwe indeed one of the most promising, trusted, and respected financial institutions in Ghana.