OmniBSIC Bank, in collaboration with GIZ Ghana, has successfully conducted Financial Literacy Training for Small and Medium-sized Enterprises (SMEs) in Accra and Koforidua.
The seminars, which drew participants from various sectors, including trade, production, and services, aimed to equip SMEs and aspiring entrepreneurs with crucial business skills and financial knowledge.
The training sessions are part of OmniBSIC Bank’s ongoing initiative to bolster Ghana’s SME sector.
They featured expert presentations on critical topics essential for business success in today’s economic climate, including financial management, record-keeping, market adaptation, and cultivating a forward-thinking business mindset.
This initiative aligns with OmniBSIC Bank’s recent recognition as the Premium SME Brand of the Year at the 8th Global Business Brands Summit & Awards.
This prestigious accolade underscores the bank’s commitment to nurturing SME growth in Ghana through innovative financial solutions and services.
It further solidifies OmniBSIC Bank’s position as a leading supporter of small businesses striving for success in a dynamic market environment.
According to a report from the Bank of Ghana (BoG) earlier this year, OmniBSIC Bank is leading the country in offering the most competitive loan interest rates.
The BoG’s Annualized Percentage Rate (APR) report, released in April 2024, highlights the actual cost of borrowing, including the Ghana Reference Rate, bank-specific risk premiums, and additional charges.
Mr. Daniel Asiedu, Managing Director of OmniBSIC Bank, emphasized the bank’s dedication to SME development.
“Our consistently competitive rates reflect our commitment to fostering SME growth and contributing to Ghana’s economic advancement.
This approach aligns with our strategic focus on the SME sector and our role in promoting financial inclusion and economic progress,” Asiedu stated.
Eugene Bawelle, Head of SME Banking at OmniBSIC Bank, highlighted the importance of the training initiative.
“We believe that when businesses succeed, the entire community benefits.
Our seminar series represents our commitment to building capacity within the SME market.
The enthusiastic participation underscores the need for such programs,” Bawelle remarked.
The seminars included presentations from industry experts such as Mr. Richard Asante-Amoah, CEO of Stravents and GIZ consultant.
Asante-Amoah introduced the VUCA (Volatile, Uncertain, Complex, Ambiguous) concept to describe today’s business environment, stressing the importance of knowledge-based systems to navigate market challenges.
“We aim to instil a progressive mindset in businesses to help them withstand trials and challenges,” he said.
Mr. Ebenezer Nii Sampane Adjaye, Executive Director for Consultancy and Advocacy at the Chartered Institute of Supply Chain Management, led a session on financial awareness and record-keeping.
He emphasized the role of data-driven decision-making. “In VUCA periods, having accurate information is crucial for making informed decisions, projecting future risks, and ensuring business sustainability,” Adjaye explained.
Participants praised the seminars for providing practical insights. Sarah Mensah, a local catering business owner, noted, “The seminar has been eye-opening.
I’ve learned valuable lessons on financial management and adapting to market changes. The concepts on record-keeping will enhance my business operations.”
The success of these events in Accra and Koforidua paves the way for similar seminars in other regions of Ghana.
OmniBSIC Bank and GIZ Ghana plan to extend the program nationwide to empower SMEs further and drive economic growth and job creation across the country.
