Absa Bank Opens First of-Its-Kind SME Banking Suite in Kumasi  

Absa Bank Opens First of-Its-Kind SME Banking Suite in Kumasi

Absa Bank has launched an SME banking suite at its Adum branch in Kumasi dedicated to supporting small and medium enterprises in the region.

Addressing the launch by the Director for SME and Partnerships at Absa Bank, Mrs Audrey Abekah said the new SME Banking Suite is a designed space where businesses can connect, collaborate, and access tailored banking solutions conveniently.

She further added that this initiative aims to provide small and medium-sized enterprises (SMEs) with access to financing, capacity building, and other resources to help them expand and thrive.

The Director for SME and Partnerships at Absa Bank continues that small and medium-sized enterprises remain a key focus for Absa Bank and provide practical guidance to SMEs on overcoming business challenges, identifying growth opportunities, and offering insights into industry trends.

Mrs Audrey Abekah emphasized that the banking suite will offer SMEs access to free meeting spaces, complimentary Internet, and training in entrepreneurship, financial management, and other core business skills with sessions held regularly.

“Absa Bank Ghana remains committed to equipping SMEs with the necessary tools, resources, and expert insights to thrive in today’s competitive business landscape,” she stressed.

Mrs Audrey Abeka explained that the banking suite includes a special loan offer with an interest rate of 10% per annum, which is significantly lower than the usual rates. Women-owned SMEs, agribusinesses, and youth-owned businesses can access these loans.

In addition to financing, Absa Bank is also providing capacity-building programs to help SMEs improve their business management skills. These programs are designed to equip entrepreneurs with the knowledge and skills needed to grow their businesses sustainably.

Absa Bank’s initiative is expected to make a significant impact on Ghana’s economy, as SMEs contribute over 80% to the country’s GDP growth.

 

Story by Gifty Badu Boakye