Edward Nartey Botchway (6th right), MD, Absa Bank Ghana, with some SME customers at the launch
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Business Desk Report
Business News
Mar – 11 – 2025 , 07:53
As part of efforts to strengthen support for Small and Medium Enterprises (SMEs), the Absa Bank Ghana has opened an SME Banking Suite at its Adum branch in Kumasi.
The new SME Banking Suite provides a dedicated space where businesses can connect, collaborate and access tailored banking solutions conveniently.
It forms part of the bank’s commitment to enhancing SME support by offering a business-friendly environment with services tailored to their unique needs.
Speaking at the launch, the Managing Director of the Absa Bank Ghana Ltd, Edward Nartey Botchway, said SMEs face significant challenges, with 70 per cent of them failing within their first five years, adding that “every SME that fails is a dream dashed, jobs lost and ambitions squashed.”
He outlined Absa’s efforts to support SMEs through affordable financing, capacity building and customised products and services such as the SME Business Banking Suite.
The Director for SME and Partnerships at the Absa Bank, Audrey Abakah, also highlighted the importance of SMEs as a key focus area for Absa.
She encouraged SMEs to take advantage of the new suite, emphasising that Absa’s support goes beyond funding by equipping businesses with the knowledge and tools needed to thrive.
“We will continue to offer collateral-free loans at an annual rate of 10 per cent, alongside our monthly SME Clinics, which will provide practical guidance on overcoming business challenges, identifying growth opportunities and offering insights into industry trends. We are excited to extend our support through this new SME Suite facility,” she added.
Ms Abakah explained that the Banking Suite will offer SMEs access to free meeting spaces, complimentary internet and training in entrepreneurship, financial management and other core business skills, with regularly scheduled sessions.
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