In a landmark event that marks a significant step towards fostering the growth and resilience of Micro, Small, and Medium Enterprises (MSMEs) in Ghana, Access Bank and Deloitte Ghana came together to sign a Memorandum of Understanding (MoU).
The ceremony, held at Access Bank’s headquarters, saw key figures from both organizations gathering to solidify their commitment to empowering businesses and driving economic prosperity.
The Managing Director of Access Bank, Olumide Olantunji, highlighted the crucial role of MSMEs in Ghana’s economy.
He underscored the fact that these enterprises contribute over 80% of the nation’s workforce and more than 70% of GDP.
“However, the MSME sector has long faced challenges, including limited access to finance, technical assistance, and management skills.”
The collaboration between Access Bank and Deloitte Ghana intends to address these challenges head-on.
The joint effort aims to empower 10,000 MSMEs and trade associations within the span of a year.
Through a series of capacity-building clinics, workshops, fairs, and access to financial support, the initiative seeks to equip businesses with the tools they need to succeed in a competitive landscape.
Olumide emphasized that the partnership’s goal is not only to help businesses survive but to thrive. The comprehensive approach involves strengthening financial management, enhancing skills, and improving market analytics.
“The ultimate objective is to transform the business landscape, drive employment, and contribute to Ghana’s economic growth.”
Deloitte Ghana’s Country Manager, Mr. Daniel Kwadwo Owusu, expressed his enthusiasm for the collaboration, stating, “this partnership aligns with our commitment to fostering sustainable economic development. By combining Access Bank’s financial expertise with Deloitte’s industry insights, we are confident in our ability to create a positive impact on MSMEs and trade associations across the country.”
The Group Head for Business Banking at Access Bank, Kafui Bimpe shared the bank’s vision for MSMEs extending beyond the signing of the MoU.
“Not only will we provide them with capital, but we will also ensure that those funds are put to good use so they can make good use of it. That is why we will among other things prioritise equipping them with skills that will give competitive advantage.”
Over the past three years, Access Bank has demonstrated its dedication to the MSME sector, impacting over 170,000 businesses through various initiatives. This commitment has garnered global recognition, with awards from prestigious institutions such as Euromoney, Global Brands, and World Economic Magazine.