The Managing Director of Premium Bank, Mr. Kwasi Tumi was present at the “Enterprise Africa Summit” organized by the British Council and held at Kempinski Hotel in Accra to give a speech on The Roles Bank Play on the Innovative Financing of Small and Medium Enterprises (SMEs).
Premium Bank, present at the Enterprise Africa Summit from 23rd to 24th March 2017, promoted The Helpstation, an entrepreneurship initiative of the bank aimed at building resilient SMEs as well as provide them assistance and support.
Mr. Tumi spoke to the audience of the challenges SMEs face that prevents them from reaching their full capabilities and asserted on the importance of finding new, innovative means to finance them.
“Notwithstanding the fact that SMEs are a formidable force for economic growth and development, they still face various challenges which limit them from achieving their full potential”. He further explained this by citing examples of such challenges which include non-existent or non-functional governance structures, inexperienced management teams, administrative challenges, inadequate infrastructure, unproven track record and lack of appropriate financial systems.
Mr. Tumi said that there was a need for banks to create new, innovative and sustainable ways of financing SMEs to help them overcome these challenges. He also spoke on The Helpstation initiative of Premium Bank and how it can help in their mission to support and grow their customers’ businesses.
“The HelpStation is the medium through which we offer a total business solutions kit aimed at building resilient, high-growth and globally-competitive SMEs. Through the HelpStation, Premium Bank provides SMEs with holistic financial and non-financial support services through the various stages of operations and growth. Through our partnership with TANOE, The HelpStation is able to provide SMEs the much needed attention, working closely with them to examine their current state, analyzing their needs and providing them with tailor-made solutions which does not put undue pressure on depositors’ funds but is able to meet the needs of SMEs.”
The Helpstation team of Premium Bank was present at the Enterprise Africa Summit to market its services to young, budding entrepreneurs as well as host a pitch session to listen to business proposals from entrepreneurs.