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NIB MD pledges continued support for SMEs

botchway July 11, 2019

 

The Managing Director of the National Investment Bank (NIB), Mr. Samuel Sarpong, has assured Small and Medium Enterprises (SMEs) of the bank’s continuous support to help grow and sustain their businesses.

He gave this assurance when he led a five-member team from the Head Office to visit some shops at Okaishie and Cocoa Marketing Board (CMB) markets within the Central Business District.

Mr. Sarpong, following his recent appointment, has initiated a range of programmes aimed at restructuring the bank as part of measures to re-position it for growth.

He believes direct interaction with individual customers and business operators would give management a deeper understanding of their specific needs, thereby, tailor-make products to address their needs.

Small and Medium Enterprises (SMEs) in particular have, over the years, lamented the challenges associated with accessing credit from commercial banks in the country, a phenomenon that makes it difficult for most to survive their first five years.

The NIB is expected to become one of the strongest banks in the country, following the government’s assurance to recapitalise it on the heels of a Bank of Ghana requirement for all commercial banks in the country to have a minimum capital of GH¢400 million.

A revitalised NIB, according to Mr. Sarpong, will support the nation’s industrialisation agenda by making funds easily accessible to, especially, the manufacturing sectors of the economy.

Mr. Sarpong also intimated that “NIB is going to be more responsive to the needs of businesses than it has ever been. This includes the deployment of smart banking solutions and products that would meet the specific needs of all our customers.”

He, however, encouraged business owners to adopt practices and strategies such as proper record-keeping, prompt debt payments, regular savings among others to engender confidence among business partners and financial institutions, thereby, making it easy for them to access funds.

Mr. Samuel Sarpong was accompanied on this tour by the Deputy Managing Director, Mr. George Alfred Thompson, Accra Main Branch Manager George Addae-Mensah, Excel Banking Manager Aba Katu, and Newlife Selorm Kudzo Amey of the Customer Services Unit.

 

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