Banks not doing enough for SMEs -- Alhassan Andani

The Managing Director of Stanbic Bank Ghana Limited, Mr Alhassan Andani has called for increased financing and policy support for small and medium enterprises (SMEs) to help grow them into giant businesses.

Opening the GRAPHIC BUSINESS/Stanbic Bank Breakfast meeting at the Labadi Beach Hotel, Accra, Mr Andani said although SMEs are critical to the success of the country and Africa in general, they are bedeviled with a series of challenges, key among them being access to finance.

He said while banks and other financial institutions in the country have done well by way of support to SMEs, that support is not enough.

{mp3}Alhasan Andani at GBSBBM_on_SMES_2019{/mp3}

Given that Ghana and Africa are yet to produce an international brand in the global business environment, Mr Andani, who is also the President of the Ghana Association of Bankers (GAB) said the financial institutions in the country and the continent as a while need to pay particular attention to the growth and welfare of SMEs.

He said the country and Africa needed to have a "vested" interest in SMEs.

The forum is on the theme 'Building a national equity fund to support SMEs.'