Stanchart/PwC trains SME clients in W/R

Standard Chartered Bank, in partnership with Pricewaterhouse Coopers (PwC), has held a workshop for the bank’s SME customers in the Western Region.

The clients were equipped with basic financial management, effective working capital management and business planning skills as part of efforts by the bank to increase their capacity to access more capital and services in order to grow their businesses.

This year’s event, on the theme, ‘Strategic Financial Management for SMEs’, engaged more than 30 participants from many industries in the region, ranging from the oil, mining, trade and agricultural sectors.

A release from the bank said, “the partnership, which is in its third year, also seeks to provide SME clients of the bank with adequate management skills and the opportunity to network with other business owners and gain deep insights into how to grow effectively”.

It said, “The training concept was devised in response to ‘The Business Call to Action (BCtA) initiative which was led by the United Nations and encourages businesses to use their core skills to help meet the Millennium Development Goals (MDGs)”.

The bank’s Regional Head of Sustainability for Africa, Nii Okai Nunoo, was quoted in the release as saying, “Providing support to SMEs should go beyond financing if this country intends to benefit from the potential of this sector to be able to drive sustainable growth and job creation”.

“Our partnership with PWC is focused on addressing the business management skills gap because we believe that is the crucial contribution we can make towards the realisation of the true potential of SMEs. For us, this is what Here for good means”, he said.

The release said Standard Chartered Ghana had an integrated SME business unit with dedicated relationship managers who focus on providing solutions and support to the over 17,000 customers under this segment.

It said the main areas of support included working capital and business expansion.

The release also noted that the bank took pride in its ability to combine an excellent global expertise with deep local knowledge to ensure SMEs grew beyond boundaries, explored new markets and overcame challenges.