Fidelity Bank Ghana announced it is boosting its support of the country’s Small and Medium Scale Enterprises (SMEs) through new products, specialized services, as well as financial and technical assistance. According to GhanaWeb, the news was revealed at the bank’s SME summit in Accra, which was held so the businesses could interact and share ideas, as well as find out how the bank can lend more assistance to its SME clients.
The summit gave the bank a chance to listen to the concerns and challenges that SMEs in the nation face. Director of Commercial and SME Banking at Fidelity Bank, Nana Esi Idun-Arkhurst said, “As one of the top seven banks in Ghana, we are very much committed to the growth and success of SMEs, since SMEs support the general economy to expand. We are ready to work together with all businesses to identify risks early in order to properly manage those risks."
She noted that "Fidelity Bank has unique products and services that meet the needs of SMEs and we are ready to offer any form of assistance to businesses no matter their challenges."
In addition, Fidelity Bank's Director of Finance Atta Gyan spoke to the SMEs in attendance about how the bank is performing in terms of its capital adequacy ratio, liquidity position, quality of earnings, and quality of management and staff. He also pointed out that Fidelity has recorded consistently higher performances for more than a decade.
The summit included directors of the bank, who encouraged SMEs to utilize Fidelity's services, including Letters of Credit, Documentary Collections, Open Accounts and Advance Payment. SMEs also learned about how online transactions are processed using the bank’s Internet Banking Platform, as well as the Collections Management System, a tool that offers convenience in establishing collection agreements with businesses.