Ecobank Ghana has moved to address some of the key challenges confronting Small and Medium Enterprises (SMEs) size businesses in the country.
The bank in its quest to provide solutions to the financial needs of SMEs has launched a new banking solution for small businesses known as ‘The Ecobank Digi Banking Pack’ aimed at providing convenient banking services to SMEs by leveraging the bank’s digital offerings.
The Ecobank Digi Banking Pack comprises of: Digi Current Account the Digi Current Account is a special account with no initial deposit, no monthly service charges and automatic access to the bank’s array of collection and payment solutions.
Digi Savings Account the Digi Savings Account is a quasi-hybrid account which allows cheque deposit, no monthly service fees with tiered interest rates.
The product also offers collection and payment solutions. Under this, Ecobank offers clients a bouquet of collection and payment solutions which include EcobankPay – this enables merchants to receive payments via MVisa and MasterPass QR codes, Ecobank Xpress Points which serve as agents for basic banking services such as cash pay-ins and withdrawals, Bank Card and Ecobank OMNILite which allows clients to perform a wide range of finance functions including account viewing, reporting, payments and liquidity management
Speaking at the launch in Accra on Wednesday the Managing Director of Ecobank Ghana, Mr. Daniel Sackey, said: “At Ecobank, we recognize that SMEs need a financial partner who understands their needs.”
“We are committed to delivering the best quality service to our clients, whose business we greatly value. This new initiative is, consequently, part of our continuous commitment to build strong relationships across the SME business segments, enabling business operators to enjoy faster targeted solutions,” he said.
He said lack of information from SMEs was one of the challenges banks faced in addressing the needs SMEs adding that the information gap could be bridged if SMEs share their information with financial institutions.
Mr. Sackey said the bank’s support to SMEs was in line with the government’s agenda of supporting the growth of SMEs.
On the benefits of the Digi Banking Pack Mr. Kingsley Adorfo-Addo, Head of SMEs, Ecobank said it provides flexibility of a saver whiles running a business account.
“It is convenient, smarter, and safer access to internet banking. It enhances working capital, increased access to new markets and offers financial advisory services,” he said.