Standard Chartered Empowers SME Clients

standard-chartered.2435834_std_In line with its brand promise of ‘Here for good’, Standard Chartered Bank, in partnership with Pricewaterhouse Coopers (PwC), has equipped its SME customers in the Western Region with basic financial management, effective working capital management and business planning skills to increase their capacity to access more capital and services in order to grow their businesses.

The partnership, which is in its third year, also seeks to provide SME clients of the Bank with adequate management skills and the opportunity to network with other business owners and gain deep insights into how to grow effectively.

The training concept was devised in response to ‘The Business Call to Action (BCtA) initiative which was led by the United Nations and encourages businesses to use their core skills to help meet the Millennium Development Goals (MDGs).

In Ghana, it is additionally important because a study of the bank’s socio-economic impact in 2009, recommended that the Bank provides more support to SMEs in the country — especially as they represent the country’s engine of growth.

This year’s event, under the theme, ‘Strategic Financial Management for SMEs’, engaged over 30 participants from several industries in the region; ranging from the oil, mining, trade and agricultural sectors.

Mr. Nii Okai Nunoo, Regional Head of Sustainability for Africa, said, “Providing support to SMEs should go beyond financing if this country intends to benefit from the potential of this sector to be able to drive sustainable growth and job creation”.

“Our partnership with PWC is focused on addressing the business management skills gap because we believe that is the crucial contribution we can make towards the realisation of the true potential of SMEs. For us, this is what Here for good means,” he said
Standard Chartered Ghana has an integrated SME business unit with dedicated relationship managers who focus on providing solutions and support to the over 17,000 customers under this segment.

The main areas of support include working capital and business expansion.The Bank takes pride in its ability to combine an excellent global expertise with deep local knowledge to ensure SMEs grow beyond boundaries, explore new markets and overcome challenges.

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