SG-Ghana holds Chinese Desk business banquet

sgSociete Generale Ghana has organised a business banquet for the bank’s Chinese clients to deepen the bank’s relationship with the Chinese business community in Ghana.

The event was also to assure them of the bank’s support for their business development with a host of new tailor-made and innovative solutions.

The function was attended by about 80 companies, businesses and a host of dignitaries from the diplomatic corp.

In his welcome address, Mr. Sionle Yeo, the Managing Director of Societe Generale Ghana gave an overview of the current business environment stating that, “In today’s fast changing business environment, it had become increasingly important for businesses to study and adjust to emerging economic and developmental trends towards identifying emerging investment and business opportunities.”

Mr. Yeo said that the bank was poised to ensure that all the unique needs of its clients were well catered for.

He assured the Chinese business community that the bank would continue to put the Group’s international expertise in support of their businesses to enable them take full advantage of the opportunities that the Ghanaian economy offers for their financial prosperity.

Mrs. Sun Baohong, Chinese Ambassador to Ghana reiterated the Chinese government’s continued support of the Ghanaian economy and the growth of the existing relationship between the two countries.

“The goal of the Chinese government is to increase bilateral trade and investments between both countries; the possibility of new projects with medium and long-term impact,” she said.

She stated that better cooperation between both countries would lead to a win-win cooperation with mutual benefits for all.

In his address, the Chairman of Chinese Enterprises Chamber of Commerce in Ghana, Mr. Lui Kang, spoke about the oil price pressures and its strain on the economy, but praised Ghana’s stability and conducive business environment.

Mr. Kang commended the bank for creating the platform and urged the Chinese community in Ghana to use such platforms to grow their businesses through partnerships. He further stated that Chinese businesses within the country could only thrive when they collaborate with the local Ghanaian businesses to the benefit of the economy at large.

Head of the China-Africa Desk of Societe Generale, Mrs Cai Shujue, in a comment in connection with the address of the Chinese Ambassador indicated that Africa’s take-off had been fuelled by a combination of structural and cyclical reasons and despite current headwinds, growth remains strong.

“These structural factors remain real and will continue to foster growth in the medium term. In the long term, challenges will need to be addressed to create the needed opportunities for financial institutions,” she said.

Dr. James Sackey, a consultant at the China Europe International Business School (CEIBS) spoke on, “The opportunities and challenges for Chinese businesses in Ghana going into 2017”.

Mrs. Celestine Amison-Addy, the Department Head said the bank had introduced such as leasing and financing solutions for its clients.

She said finance leasing allowed for a better usage of business capital, tax benefits, balance of cash outflows, better planning, and off-balance sheet debt.

“The Societe Generale Group’s Finasia offer would enable the pre-financing of any Asian exporter’s Letter of Credit, and specially the Chinese exporters, as soon as the goods are shipped, while the importer in Ghana will only pay when the letter of credit matures.  This improves the liquidity of the client’s business in Ghana and frees up capital to invest in other areas of growth,” she said.

Mr. Francois Marchal, the Deputy Managing Director of Societe Generale Ghana expressed the bank’s gratitude to the guests for taking time off their busy schedules to participate in the evening’s business forum.

 

By David Adadevoh

 

 

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