Fidelity Bank to give more benefits to SMEs

Fidelity Bank Ghana has reiterated its commitment to provide more support in the area of specialised services, financial and technical assistance to Small and Medium-sized Enterprises (SMEs) in the country.

This was disclosed at the bank’s SME Summit held in Accra to support the growth and expansion of the economy.

The Summit was held for businesses and SMEs to interact and share ideas on the business environment in Ghana and how the bank can lend more assistance to its SME clients.

Nana Esi Idun-Arkhurst, Director of Commercial and SME Banking at the Bank speaking to the GNA in an interview said: “As one of the top seven banks in Ghana, we are very much committed to the growth and success of SMEs since they contribute to the expansion of the general economy. We are ready to work together with all businesses to identify risks early in order to properly manage those risks.”

She noted that Fidelity Bank has unique products and services that meet the needs of SMEs and the bank is ready to offer any form of assistance to businesses no matter their challenges.

Mr. Atta Gyan, Director of Finance at the bank educated operators of SMEs on the factors that constitute a strong bank and how the bank is performing in terms of its capital adequacy ratio, liquidity position, quality of earnings and quality of management and staff.

He added that businesses must trust local banks including Fidelity Bank which has recorded consistent services to its clients for over 10 years now.

Other officials of the bank also encouraged SMEs to utilize services like Letters of Credit, Documentary Collections, Open Accounts and Advance Payment.

SMEs were also introduced to the process involved in online transactions using the bank’s Internet Banking Platform as well as the Collections Management System, which is a dynamic collections tool that offers convenience for establishing collection agreements with businesses.