We’ve Given GHC242M Loan to SMEs-CBG Director General
The Managing Director of the Consolidated Bank of Ghana (CBG), Mr. Daniel Addo has revealed that within three years, CBG has given about ghc242million loans to Small and medium enterprises because they are the life line of the economy.
According to him, CBG is now stronger and well established to serve Ghanaians and willing to become Ghana’s preferred SME Bank, also working hard to be the most trusted Bank in Ghana.
Speaking to Kingdom News reporter Elvis Kuma Sampson in an interview during the 2nd edition of State Interests and Governance Authority’s media engagement series in Accra, Mr. Daniel Addo said, “small and medium enterprises are businesses that maintain revenues, assets or a number of employees below a certain threshold and they are the backbone of the economy of the Country”.
“So CBG has taken on the responsibility to provide for the SMEs, though small in size, small and medium enterprises play an important role in the economy”.
They outnumber large firms considerably, employ vast numbers of people and are generally entrepreneurial in nature, helping to shape innovation in the country.
He asserted that CBG is to improve SMEs’ access to finance and find innovative solutions to unlock sources of capital.