'Banks in Ghana are not serious' – McDan CEO

Founder of McDan Group of Companies, Dr Daniel McKorley has expressed worry over the cumbersome processes business persons go through in accessing credit from Banks.

He noted that the process to access fund is burdensome for ordinary SMEs describing their actions as frivolous.

In his post on social media, the founder of McDan Group of Companies indicated that most Ghanaian businesses are SMEs so granting them credit must be seamless and comforting to allow them to run a successful business for a long time.

According to him, he instituted the McDan Entrepreneurship Challenge to offer support to SMEs business.

“I was in the studios of Asaase Radio this morning where I made the point that our banks in the country are not ‘serious’. They make access to credit very cumbersome for ordinary SMEs.

They ask for your left arm (documents) and while you’re at it, they demand for the next arm, then your legs and before you realise, your whole body is in the bank. Most businesses in the country are SMEs.

Granting them credit must be seemless and comforting to allow them run a successful business for a long time. This is why I instituted the McDan Entrepreneurship Challenge to at least offer the little support I can.” He posted on Facebook