Managing Director of Access Bank Ghana PLC, Olumide Olatunji, has indicated that Access Bank is reinforcing its position as an SME focused Bank through its ‘W’ initiative. Access bank in partnership with Platinum Africa Solutions, has launched “The Business Start-up Challenge” to support start-up businesses in the country.
According to the Managing Director of Access Bank, the Business Start-up Challenge will provide a unique opportunity to five hundred (500) shortlisted young Ghanaian entrepreneurs within the ages of 18 and 35 years, who have either set up budding businesses or have business ideas, seeking funding opportunities to make them materialize.
Sharing his remarks on the Challenge, Managing Director of Access Bank Ghana PLC, Olumide Olatunji, emphasized the importance of resourcing local start-up businesses. He also emphasized the importance of SMEs as a significant contributor to the economy.
“Globally, start-ups dominate the business environment with the sector referred to as the backbone of the global economy”.
Olumide Olatunji
He, however, cited lack of funds, improper planning and poor management skills, as factors impeding their growth. Hence, the bank’s intervention of bridging the knowledge and technology gap through programmes such as The Business start-up Challenge.
However, the highlights of the Business Start-up Challenge include a boot camp workshop to train participants on principal business practices such as: Team Building and Leadership, Excellent Customer Service, Marketing Concepts and Strategies among others.
Moreover, there will be shortlisting sessions, where each participants will be given the opportunity to pitch their business ideas. Also, final thirty shortlisted applicants will undergo a master class and final pitching to a six-member jury and faculty, made up of renowned persons in the fields of Marketing, Communications, Business, Entrepreneurship and Human Resource.
On the other hand, the top three finalists will receive a share of Thirty Thousand Ghana Cedis (GH¢30,000) as cash prizes, business advisory & mentorship sessions and a Twenty Thousand Ghana Cedis (GH¢20,000) worth of Life Insurance cover.
Meanwhile, the ‘Challenge’ is expected to run for a period of 5 weeks. Applications are currently opened and will end on 1st October, 2021. In addition, a three-member jury will audition applicants from 4th to 7th October, 2021, to kick-start lined-up events.
Participants will receive training in key business practices at various stages of the challenge, equipping them with knowledge to navigate this era of technology.
Access Bank places a special focus on SMEs because of the significance they hold to Ghana’s economy. Aside The Business Start-up Challenge, the Bank has supported many SMEs and start-ups through its tailored digital banking solutions for businesses, its Africa wide Womenpreneur Pitchaton Africa Competition in partnership with IFC and through its SME Clinics held in Accra and Kumasi with plans to extend to the Western and Northern Regions of the country.
Access Bank continues to build a solid long-term relationships with customers based on trust, digital innovations, good customer service and transparency.
Meanwhile, in a similar instance, Access Bank partnered with Mayfair Estate Limited, a real estate construction firm, to offer Officers of the Ghana Armed Forces, the opportunity to own affordable luxurious homes on a mortgage financing scheme.
This offer sought to support all interested Officers of the Ghana Army, to acquire homes at affordable and competitive rates.
With all these partnerships by Access Bank, it is safe to say Access Bank is doing its best to contribute to the economic development of the country.
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