Business News of 2014-02-16

Design product to help petty traders - MCE urges banks

Mr Kwaku Afrifa Yamoah Ponkoh, Ejisu-Juaben Municipal Chief Executive, has appealed to Ghanaian indigenous commercial banks to develop products and services that would meet the needs and aspirations of petty traders and craftsmen in the various communities.

He said majority of women who sell on table tops in the markets, seamstresses and tailors in kiosks, carpenters, welders and mechanics on the road side, as well as many others, were unable to access credit, due to lack of products that were designed to meet their specific needs.

It is, therefore, important for banks to take a second look at these masses who are scattered in almost every community in the country, and design tailor-made products and services that would meet their specific needs to enable them improve on their businesses and lift themselves from poverty.

Mr Yamoah Ponkoh, was speaking at the inauguration of the Ejisu branch of the agricultural development bank (adb) on Friday.

The inauguration coincided with the launch of the "adb adwadifoo anidaso", a new product designed specifically for petty traders, drivers and people in various vocations, to assist them save and access credit facilities from the bank in a convenient way.

Mr Yamoah Ponkoh praised adb for its decision to open a branch in the town, and said the municipality was fast expanding in terms of business and economic activities which required the supports of the banks.

He said the Assembly was ready to create the needed enabling environment for financial institutions to operate and support business activities in the municipality.

Mr Stephen Kpordzih, Managing Director of adb, said the rebranding and the new identity reflected the desire of the bank to keep on improving all aspects of its business operations and also strengthen relationships with its customers.

He said the opening of the Ejisu branch was an effort to bring the services of the bank closer to the municipality which was rapidly growing with lots of brisk business activities, to enable the people have easy access to their tailor-made financial services.

Source: GNA
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