Kumasi, July 23, GNA – Absa Bank Ghana has pledged to assist members of the Ghana Union Traders Association (GUTA), especially those in the small and medium-scale sector, to expand, grow and sustain their businesses.
It has, therefore, outlined key activities consisting of access to finance, as well as strengthening financial inclusivity within the association to achieve the objective.
The bank is also partnering with Mastercard Foundation to build capacities of 3,000 businesses under the Young Africa Works Programme.
It is also offering a collateral-free loan facility up to GH₵ 500,000.00 to traders and a special loan package up to GH₵1,000,000.00 for women-led businesses under GUTA.
Mrs Audrey Abakah, Head SME, Agency Banking and Partnerships at Absa, speaking at a meeting with GUTA members in Kumasi, said funding to grow and expand had always been a major challenge to businesses and traders in the country.
This was because the level of risks in the SME sector made it difficult for operators to get financial support.
“This is why Absa Bank Ghana is stepping in to make it easy for businesses under the GUTA to access funding easily, you do not have to show any collateral before requesting a loan facility,” she observed.
Mrs Abakah noted that when businesses were empowered, they created more jobs, especially for the youth, adding that, the bank was poised to contribute to developing and growing the Ghanaian economy.
Dr Joseph Obeng, the President of GUTA, said the meeting was to officially brief GUTA members in Kumasi on the new offers in loan schemes and remind them of their relevance to the economic value chain.
He commended Absa for the flexible offers and services it was rendering to members.
Dr Obeng called on members to submit valid documents to be able to access available offers from the bank.
Florence Afriyie Mensah
