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Politics News

AccessBank, IFC strengthen SME clients

AccessBank Liberia in partnership with the International Finance Corporation (IFC), a subsidiary of the World Bank Group has held its second event in a series of cooperate governance awareness sessions with SME clients aimed at helping the bank and SME network to identify and better articulate the benefits of corporate governance to enhance performance.

The long-day training took place at a local hotel in Monrovia, with partners from other operational countries in Africa.
The event is aimed at giving voice to the private sector to highlight its challenges and opportunities as well as provide strategies to enhance performance and governance in the business sector.

The training seeks to enhance best practice, sustainability and provide the atmosphere to access finance and other opportunities in the country.

Speaking Wednesday, February 27, at a local hotel in Monrovia, the Managing Director of AccessBank informed participants and partners of the need for improvement in small, medium enterprise governance that would position businesses for finance opportunities and enhancing sustainability.

Jonas Nyaye said the aim of the conference is to support SME`s customers and other business owners and managers to share and exchange views and perspectives on general corporate governance issues, and how these issues affect one’s ability to position many interesting dimensions.

The CEO said the bank believes that its success depends on individual’s successes of customers, saying that AccessBank will eventually be successful if customers` businesses are successful too.

Mr. Nyaye further indicated that it is against the understanding that the bank always looks for ways to improving support to the business sector at large.

He noted that last year, the bank conducted a review of its value prepositions to the SMEs and corporate clients and came to a simple realization that provisions of loans and banking services are important, but may not be enough to support customers to transform their businesses at a faster pace, highlighting that they needed something else in addition like the conference.

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The AccessBank boss reiterated that the conference presents yet another opportunity for them to discuss and reflect on some important issues that will transform businesses that aspire to grow.

He expressed gratitude to partners and business officials, and stressed that it is always good to stay together to achieve one common business goal.

In her remark, IFC Liberia, CASA coordinator said IFC is an equity shareholder in ABL and remains committed to the bank and its clients, noting AccessBank is one of the largest banks in the country`s financial sector, employing over 500 Liberians, with over 2,000 micro clients, and well over 300 SMEs and corporate clients, respectively.

Rahila Danjuma described the conference as a step forward, as they focus on the third component of capacity building, realizing that access to finance is not the only factor necessary for business growth in a country.

Danjuma said the IFC has begun to support ABL’s new objective of providing non-financial services to clients through series of workshops, including this training.

The financial expert used the occasion to call on all to make use of the opportunity to bring change to their respective businesses. Editing by Jonathan Browne

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