Officials in a group photograph
ACCESS BANK and Deloitte Ghana have positively impacted over 170,000 Small and Medium Enterprises (SMEs) through the ‘business interaction series’.
The aim of the series is to enhance the financial literacy of SMEs and encourage them to scale up their businesses in a sustainable manner.
At a recent media engagement in Kumasi, the Group Head of Business Banking at Access Bank Ghana, Kafui Bimpe, said the rationale was to equip more SMEs with superior knowledge, modern tools and techniques, winning strategies, and the necessary business acumen to succeed and compete internationally.
He emphasized that the introduction of the series was a demonstration of the Bank’s commitment to fast-tracking the growth of SMEs together with their partner, Deloitte.
Assurance Partner from Deloitte Ghana, Kwabena Antwi Situ, educated participants on how to succeed in their business.
He said, “For SMEs to succeed, they need to diligently keep records, distinguish, and properly allocate income between profit and capital and practice a culture of savings.
He added that Deloitte’s collaboration with Access Bank seeks to address the challenges faced by SMEs in Ghana, despite their significant contribution to the country’s Gross Domestic Growth (GDP).
“As knowledge partners of the ‘SME Business Interaction Series,’ Deloitte seeks to equip SMEs through capacity-building clinics, workshops, business advisory services, networking opportunities, access to markets, and financial support. Remarkably, the partnership aims to assist 10,000 SMEs and trade associations within a year,” he added.
He stressed that tax education was very important, hence the need to partner with Access Bank.
“Someone did indicate that the citizenry have been urged to pay tax, yet at the basic education level much is not said about taxes so the focal point should also be there.
We need to educate the youth about taxation…and government should also be equitable enough in terms of using the resources that are mobilized through these taxes to help improve the GDP ratio”, he stated.
Ashanti Regional Minster Simon Osei Mensah, in a speech read on his behalf said SMEs were critical to the growth, poverty reduction and job creation in the country.
This notwithstanding, he noted that SMEs were faced with significant challenges and commended the organizers for such an event for entrepreneurs to broaden their outlook towards the growth of their businesses.
Chairman, Ghana Union of Traders Association, (GUTA) Ashanti, Anthony Oppong, commended Access Bank and Deloitte Ghana for their support to SMEs, noting that these training and education would enhance their businesses.
FROM David Afum, Kumasi