The Marketing and Corporate Relations Director at Absa Bank, Nana Essilfuah Tamakloe, has commended the B&FT – Africa’s leading provider of business information, for its outstanding contribution to the growth of businesses and the economy.
She said the brand’s immense contribution via provision of vital macroeconomic information necessary to make informed business decisions is commendable, as is its advocacy for business-friendly policies.
Over the years, she observed, B&FT has organised various fora to set the agenda for discussions on critical issues that border on creating an enabling environment for businesses to thrive; and provided platforms for small and medium scale-enterprises (SMEs), large conglomerates and multinationals at large.
Touching on Absa’s initiatives and contribution to the economy, the Marketing and Corporate Relations Director indicated that a lot of funding support was given to critical industries to spur sustainable growth – especially in the agriculture and SMEs space.
“With agriculture funding, for instance, we realised a lot of the farmers who applied did not qualify; so, we took time to explain things and help them develop a credit profile and to go through all the necessary processes. I can confidently say that, now, most of them are eligible to access credit because they understand the processes,” she said.
This, she said, is an indication that with the right guidance and assistance, businesses and industries deemed unbankable can be covered. She reiterated that her outfit will not relent in its commitment to offer support for SMEs, as they remain the local economy’s backbone.
She made these remarks when management of B&FT, led by its Chief Executive Officer Dr. Godwin Acquaye, paid a courtesy call to Absa’s head office in Accra. Conversations centred around ways to deepen the relationship between both institutions for mutual benefit and ensure the consuming public becomes the ultimate beneficiary – highlighting both parties’ commitment to providing quality banking services and credible business information for general good of the country.
Among other things, the discussions touched on the current SME loan initiative of Absa that offers funding at a rate of 10 percent to startups.
This initiative was introduced in the second quarter of this year, and is said to have already disbursed about GH¢1million without collateral to some start-ups.
The Absa Marketing and Corporate Relations Director described this intervention as a game-changer for start-ups, as it is revolutionising the way banking is perceived by businesses and individuals whose contribution drives the country’s growth.
Chief Executive Officer-B&FT, Dr. Godwin Acquaye, on his part also commended the bank for its unwavering support for local businesses over the years, especially SMEs. He further lauded the bank for its commitment to the formidable mutual partnership that has existed between the two parties all these years.
Dr. Acquaye shared his optimism for the coming year and requested more collaborations to deepen the existing relationship. “I am optimistic that next year will be a good one for the business community, as government will seek to create a stable environment for the election; hence the need to find innovative ways to ensure local businesses benefit.”
He added that some flagship programmes of B&FT – such as the Youth Economic Forum, Money Summit, Ghana Economic Forum, CEOs Breakfast Meeting among others – have made a lot of impact, hence the need for more partnerships to sustain these initiatives.
Dr. Acquaye also enlightened the Absa team about some of the initiatives and projects lined up for the rest of this year, as well as projects for next year.
The courtesy meeting concluded with both parties committing to continued partnerships and collaborations targetted at the country’s socioeconomic development.
