Unibank Ghana sets aside GH¢470m for SMEs

Unibank Ghana Limited says it has set aside GH¢470 million to support Small and Medium Scale businesses in the country this year alone.

The Chief Executive Officer of the bank, Mr. Amishadai Owusu Amoah said in an interview that in 2009 the bank gave out GH¢110 million in loans to SMEs and last year they doubled the figure to GH¢220 million but this year they have earmarked GH4¢70 for the sector.

This year’s amount represents more than 100 per cent increase over that of last year, and Mr. Owusu Amoah said “just like the churches sing and say ‘double, double’ this year we are giving ‘double, double’ loans to SMEs.”

He noted that SMEs complain of lack of loan facilities from local banks, but Unibank has proved beyond measure that it is committed to helping small businesses in Ghana to grow into big businesses.

“Our primary mission is to support SMEs and we believe that by helping SMEs to expand our bank also expands,” he said.

Mr. Owusu Amoah assured SMEs and prospective business people that Unibank continues to give loans at very competitive interest rates, with flexible repayment terms, adding that it also gives financial and business advice to assist customers grow their businesses.

He mentioned some of the businesses who benefit from the bank’s loans as people who trade between Ghana and China and Dubai, mobile phone and recharge cards dealers, players in the construction industry, and sachet and bottled water manufacturers.

“We will not relent on our commitment to the SME sector,” he assured.

Mr. Owusu Amoah urged young men and women who want to expand their businesses or need start-up capital between GH¢5,000 and GH¢10,000 to walk to Unibank and the bank will listen to them.

By Samuel Dowuona