Connect with us

Business

Societe General launches “SG Boafo Loan Product” to finance small businesses

Published

on



Societe General Ghana has launched its ‘SG Boafo Loan Product’ with the commitment of transforming Micro, Small and Medium sized Enterprises (MSMEs) in Ghana.

According to General Manager in Charge of Retail, Obed Hoya, the bank through its newly launched offering will provide credit facilities to help owners of small businesses to mitigate challenges confronting them.

Speaking to Joy Business, Mr. Hoya, said this will facilitate and enhance the growth of small businesses across the country.

He explained that the intervention will ensure sustainability and growth of small enterprises in the country.

“The bank is not only poised to support your businesses with credit facilities but specialised business products and advisory service available at the SG Home of Business and the Innov8 Hub located at our Osu branch and Head Office respectfully”, he said.

“The timely introduction of the new “SG Boafo Loan Products” is to help owners of MSME mitigate some of these challenges”, he pointed out.

He further explained that the bank has taken precautions to prevent customer loan default.

“We will be monitoring the activities of our customers who come for the loans, measures are already put in place to ensure that in order to prevent default”, he posited.

The SG Boafo Loan product, which is specially designed for micro, small and medium enterprises is an innovative package that provides credit in the form of working capital loans.

The bank revealed that the prevailing economic conditions further impact the sustainability of the sector especially with the rising inflation and the depreciation of the Ghana cedi against the major currencies.

For the benefit of consumers and small businesses, the Boafo Loans Product have a 12-month term. MSMEs would therefore need to open an account with the bank and use the account to conduct business.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Business

Ghana has one-month crude oil supply – NPA

Published

on


File photo

The National Petroleum Authority (NPA) has revealed that Ghana currently has a one-month supply of crude oil in storage capacity.

The Authority, however, is assuring the populace that there is no cause for alarm as they have the product available for the consuming public.

The admission follows Bloomberg’s prediction that Ghana faces a looming fuel shortage as the central bank rations dollars after oil prices surged following Russia’s invasion of Ukraine.

The monthly fuel import bill for Ghana jumped to $450 million in May, from $250 million in January.

The Central Bank is only offering about $100 million a month at its foreign exchange auctions making dollars difficult for the oil marketing companies to come by.

But the Director of Communications at the NPA, Kudus Mohammed, tells JoyNews in an interview that the situation is under control.

“We don’t have to grant permission to an unnecessary number of vessels that might bring the product so that you will be finding it difficult as to where to put them. So there is a certain regular timetable that guarantees who brings what at what time and the Planning Department is able to gauge at a particular time, what is the need of the consuming public, what is available across the country and who should actually be granted a permit.

“Diesel particularly is becoming a very scarce commodity in the market. So what is primarily important is the access of it and the regular amount which is supposed to be available to the consuming public as and when they will want it,” he told host George Wiafe.  



Source link

Continue Reading

Business

Ghana has one-month crude oil supply – NPA

Published

on


File photo

The National Petroleum Authority (NPA) has revealed that Ghana currently has a one-month supply of crude oil in storage capacity.

The Authority, however, is assuring the populace that there is no cause for alarm as they have the product available for the consuming public.

The admission follows Bloomberg’s prediction that Ghana faces a looming fuel shortage as the central bank rations dollars after oil prices surged following Russia’s invasion of Ukraine.

The monthly fuel import bill for Ghana jumped to $450 million in May, from $250 million in January.

The Central Bank is only offering about $100 million a month at its foreign exchange auctions making dollars difficult for the oil marketing companies to come by.

But the Director of Communications at the NPA, Kudus Mohammed, tells JoyNews in an interview that the situation is under control.

“We don’t have to grant permission to an unnecessary number of vessels that might bring the product so that you will be finding it difficult as to where to put them. So there is a certain regular timetable that guarantees who brings what at what time and the Planning Department is able to gauge at a particular time, what is the need of the consuming public, what is available across the country and who should actually be granted a permit.

“Diesel particularly is becoming a very scarce commodity in the market. So what is primarily important is the access of it and the regular amount which is supposed to be available to the consuming public as and when they will want it,” he told host George Wiafe.  



Source link

Continue Reading

Business

Ghana has one-month crude oil supply – NPA

Published

on


File photo

The National Petroleum Authority (NPA) has revealed that Ghana currently has a one-month supply of crude oil in storage capacity.

The Authority, however, is assuring the populace that there is no cause for alarm as they have the product available for the consuming public.

The admission follows Bloomberg’s prediction that Ghana faces a looming fuel shortage as the central bank rations dollars after oil prices surged following Russia’s invasion of Ukraine.

The monthly fuel import bill for Ghana jumped to $450 million in May, from $250 million in January.

The Central Bank is only offering about $100 million a month at its foreign exchange auctions making dollars difficult for the oil marketing companies to come by.

But the Director of Communications at the NPA, Kudus Mohammed, tells JoyNews in an interview that the situation is under control.

“We don’t have to grant permission to an unnecessary number of vessels that might bring the product so that you will be finding it difficult as to where to put them. So there is a certain regular timetable that guarantees who brings what at what time and the Planning Department is able to gauge at a particular time, what is the need of the consuming public, what is available across the country and who should actually be granted a permit.

“Diesel particularly is becoming a very scarce commodity in the market. So what is primarily important is the access of it and the regular amount which is supposed to be available to the consuming public as and when they will want it,” he told host George Wiafe.  



Source link

Continue Reading

Trending