NIB Pledges More Support For SMEs

Samuel Sarpong (in front) strolls the market

THE NATIONAL Investment Bank (NIB) has assured small and medium–scale enterprises (SMEs) of its continuous assistance to them in terms of growing and sustaining them.

Managing
Director of the National Investment Bank (NIB), Samuel Sarpong, made this known
recently when he led a five-member team from the head office to visit some
shops at Okaishie and 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 reposition the bank for growth. He believes
direct interaction with individual customers and business operators will give
management a deeper understanding of their specific 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 SMEs to survive their
first five years.

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

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

The MD 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 institution, thereby
making it easy for them to access funds.

The MD was
accompanied on the tour by the deputy managing director, 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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