Absa: Supporting StartUp Businesses to scale-up

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Photo: MD of Absa Bank Ghana, Abena Osei-Poku. Credit: Absa Bank Ghana

Starting a business can be daunting and Absa, through its StartUp Banking initiative, is creating an opportunity for start-up businesses as well as young people with business ideas to scale-up and grow their business.

The Absa StartUp Banking is open to young Ghanaian businesses registered for less than three years and engaged in the production of local goods and services. The initiative is designed to equip start-up businesses with relevant business skills, knowledge and opportunities to scale up.

Ghana has a developing start-up ecosystem that is in need of support and the Absa StartUp Banking proposition provides clear-cut and tailor-made solutions that will bring the possibilities of start-ups to life.

It provides start-ups with support such market access, mentorship, visibility, financial training and capacity building opportunities among others, so they can thrive and grow their business. In addition, the bank is offering free banking services such as zero commission on turnover (COT), free cheque books, free transfers and free debit card, to minimise the financial challenge that is characteristic of start-ups.

This solution is not just an important addition to suites of services, it is an enabler in Ghana’s agenda towards building a strong economy for jobs and prosperity as well as a courageous move, particularly at a time when the entire globe has been thrown into a state of uncertainty.

Over the last couple of years, the consistency with which Absa has shown commitment in supporting new businesses and the SME sector has been inspiring and remarkable.

Mrs. Abena Osei-Poku, the Managing Director of Absa Bank Ghana said, “As a passionate, bold and forward-looking bank, Absa is committed to helping entrepreneurs to scale up their businesses by connecting their dreams to financial services and opportunities. We have the opportunity to help and build start-up businesses to become multinational companies.”

“We are excited and motivated to do this because of our social commitment to be a Force for Good in society. We have supported the development of Ghana over the past 100 years and this is another opportunity for us to reinforce our commitment to Ghana’s economic development, growth and transformation agenda.”

With over 100,000 students graduating from our tertiary institutions annually, it is fundamental that all key stakeholders contribute to the creation of an enabling environment that supports entrepreneurship, lowers the barriers of entry and leads to job creation.

Absa Bank Ghana has taken a bold step to support the growth of Ghanaian Start-ups because it believes small and medium-sized enterprises hold the key to unlocking employment avenues and the economic potential of Ghana.

The dream of supporting the growth of Ghanaian start-ups cannot be achieved alone.

The Absa StartUp Banking initiative, therefore, has a deliberate strategy to call on identifiable stakeholders, partners, institutions and all Ghanaians to encourage and support start-ups to grow and thrive. The future is uncertain, but the Ghanaian Start-up ecosystem remains brave to chase a dream and every Ghanaian need to help make this dream a reality.

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