Barclays commits US$50 million to support SMEs pg 29
The Chief Executive Officer (CEO) of Barclays Africa, Mr Vinit Chandra, says the bank is to commit US$50 million to micro-financing in Africa.
He stated that financial inclusion remained very important to the bank as a corporate entity. Therefore, it would do everything possible to provide the needed support to small scale business to help them climb the financial ladder.
The Chief Executive Officer (CEO) of Barclays Africa made this known when he paid a working visit to Boi, near Abokobi in the Ga East Municipality, to observe the activities of the Boi Women’s Group, one of the community projects the bank is sponsoring.
Mr Chandra, who was accompanied by the Managing Director (MD) of Barclays Bank in Charge of East/West Africa, Mr Adan Mohammed, the MD of Barclays Ghana, Mr Benjamin Debrah, and other top officials of the Barclays Bank Ghana, said Barclays was committed to improving the lot of small scale enterprises across the continent, hence its sustained interest to continue to empower them to consolidate their gains.
He commended the women for their initiative and assured them of the bank’s support.
The Municipal Chief Executive (MCE) of the Ga East, Mr Kwao Sackey, expressed appreciation to the bank for its interest in the progress of the group.
“Projects like yours help to reduce a lot of pressure on the assembly and help us to channel resources which otherwise may go into loans for groups like this, to go into other development needs of our communities.”
Mr Sackey urged the women to take advantage of the initiative to improve their businesses and also become a model for other groups to study.
The Boi Women’s Group mobilises funds and grants loans to members.
The activities of the group is part of the Barclays Banking on Change initiative launched in May with development organisations, CARE International (CARE) and Plan, to provide access to micro-finance for half a million people in 10 countries across the world and 63,000 people in Ghana.
As a village savings and loan association, the group pools the savings of members into funds from which members can borrow. It was established in 2009 and has a membership of 28.
He stated that financial inclusion remained very important to the bank as a corporate entity. Therefore, it would do everything possible to provide the needed support to small scale business to help them climb the financial ladder.
The Chief Executive Officer (CEO) of Barclays Africa made this known when he paid a working visit to Boi, near Abokobi in the Ga East Municipality, to observe the activities of the Boi Women’s Group, one of the community projects the bank is sponsoring.
Mr Chandra, who was accompanied by the Managing Director (MD) of Barclays Bank in Charge of East/West Africa, Mr Adan Mohammed, the MD of Barclays Ghana, Mr Benjamin Debrah, and other top officials of the Barclays Bank Ghana, said Barclays was committed to improving the lot of small scale enterprises across the continent, hence its sustained interest to continue to empower them to consolidate their gains.
He commended the women for their initiative and assured them of the bank’s support.
The Municipal Chief Executive (MCE) of the Ga East, Mr Kwao Sackey, expressed appreciation to the bank for its interest in the progress of the group.
“Projects like yours help to reduce a lot of pressure on the assembly and help us to channel resources which otherwise may go into loans for groups like this, to go into other development needs of our communities.”
Mr Sackey urged the women to take advantage of the initiative to improve their businesses and also become a model for other groups to study.
The Boi Women’s Group mobilises funds and grants loans to members.
The activities of the group is part of the Barclays Banking on Change initiative launched in May with development organisations, CARE International (CARE) and Plan, to provide access to micro-finance for half a million people in 10 countries across the world and 63,000 people in Ghana.
As a village savings and loan association, the group pools the savings of members into funds from which members can borrow. It was established in 2009 and has a membership of 28.
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