CBG Partners with Development Bank Ghana to Train SMEs Under its Financial Empowerment Programme

The Consolidated Bank Ghana (CBG) has partnered with Development Bank Ghana (DBG) to train over 400 Micro, Small and Medium Enterprises (MSMEs) under its SME Financial Empowerment (SFE) training programme.

The two-day training, which took place in Accra, offered participants the opportunity to learn more about financial literacy to support the growth of their businesses with digital skillsets.

Speaking at the event, the Head of CBG SME Centre, Mr Kwasi Amekonanye, explained that the programme would allow SMEs to showcase their products and attract potential buyers or suppliers globally.

“The goal of onboarding SMEs on the SFE programme is to enhance information sharing and provide financial solutions to support SME growth. This collaboration with DBG under the Ghana Integrated Financial Ecosystem programme facilitates international connections and opportunities for SMEs in Ghana; it allows them to showcase their products and attract potential buyers or suppliers, both locally and internationally.”

Mr Kwasi Amekonanye

Mr Kwasi Amekonanye, meanwhile, hailed the collaboration between the two banks and highlighted the main focus of the CBG bank.

“CBG/DBG collaboration brings funding at concessionary lending rates, which are lower than usual, and thus not over-burdening to the SMEs. CBG’s focus on non-collateralised cash flow lending is being enhanced by collaborating with other donor-funded programmes and thus contribute to a stronger economy by improving opportunities for women-led businesses and youth entrepreneurs too.”

Mr Kwasi Amekonanye

Mrs Rita Ankra-Badu, the Head of SME Business, iterated CBG’s commitment to SME growth. She stated that the bank remains committed to providing value for SMEs

“The Bank recognises the importance of not only provid­ing financial products, but also offering training and support to help their businesses thrive. We partnered with DBG to serve SMEs at discounted rates and with unsecured financing.

“The collaboration also aims to help SMEs to access financial literacy training, low-cost facilities, as well as gain access to international markets for trade.”

Mrs Rita Ankra-Badu

The SME Financial Empowerment Programme

The SME Financial Empowerment (SFE) programme has been designed to transform the landscape for aspiring entrepreneurs, micro, small, and medium enterprises (MSMEs), and businesses to build foundational digital-financial literacy and enhance their understanding of essential financial services.

The programme offers a wide range of courses designed to equip businesses with the neces­sary knowledge and skills to thrive in the digital economy. Participants will learn how to leverage digital tools and strategies to drive growth, efficiency, and competitiveness and access finance.

The SME Financial Empowerment (SFE) is an open education programme for micro, small and medium enterprises (SMEs) to build foundational digital financial literacy and a good understanding of essential financial services to thrive in the growing digital economy.

Meanwhile, Small and medium-sized enterprises (SMEs) are the backbone of the Ghanaian economy – they represent about 85% of businesses, largely within the private sector, and contribute about 70% of Ghana’s gross domestic product (GDP).

As such, this partnership will help the SMEs to thrive and subsequently boost the overall economy.

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