Standard Chartered launches Africa SME Month
Ghana, September 1 2008 – Standard Chartered announced today that it has launched an ‘Africa SME month’ in its African markets.
This will be run throughout the month of September. The Bank believes that SMEs in Africa currently account for between 30-60% of GDP, predicting that SMEs will be a key driver of sustainable economic growth in Africa over the next 10 years. Standard Chartered’s Africa SME Month will provide a platform for its business teams to launch new products and services to its SME customers in Africa.
Richard Wright, Head of SME Africa, said: “Our Africa SME Month is an exciting initiative. The roll out of these new products during September will enable us to significantly enhance our service to our SME customers to further assist their growing businesses.
The Bank differentiates its Brand in Africa through its ability to leverage its international expertise to introduce new, innovative products and services into its African markets. The launch of our Africa SME Month is yet another example of this competitive advantage.”
Standard Chartered’s success in its SME Africa proposition has been achieved through rigorously pursuing its strategy of launching new, innovative and customer-centric products, including SME Express Trade, Business Instalment Loans among others.
The Africa SME Month is divided into 4 different themes: Business & Product Awareness; Market Storming; SME Trade Corridors; and SME AIDS Education, Awareness and Prevention Program.
In Ghana, activities earmarked for the Month include a Senior Management and Leadership Storm of the Bank’s SME enclaves, launch of best-in-class SME propositions including Business Instalment Loans (BIL) and Mobile Sales Tool, Stakeholder Events, Meet-the-Press sessions, Roll-out of the SME Workplace HIV/AIDS Education, Awareness and Prevention Program, and special Mandarin lessons for frontline staff.
Commenting, Ebby Essoka, CEO, SCB West & Central Africa, said: ”Our focus on SMEs is an acknowledgement of the role they play in helping economies to develop and we have remained focussed on providing the Right Partner support to them. Last year, the Bank organised an SME trade mission to the World SME Expo in Hong Kong for 143 of our SMEs from Africa, including 13 from Ghana as part of the Bank’s SME Trade Corridor initiative.”
The Bank’s ‘SME Trade Corridor’ project is an initiative designed to assist SMEs conduct cross-border business across Standard Chartered’s unique international network of over 70 markets.
The other important aspect of the ‘SME Trade Corridor’ Initiative is to provide customers with the ability to open accounts in multiple countries away from their home market, and manage all of their accounts through a single internet banking platform- Straight-to-Bank- allowing customers to access international markets and providing them with unmatched access and control over their finances.
This year an estimated 200 customers, including 75 from Ghana will again have the opportunity to participate in the Hong Kong Trade Fair in December and in an additional event in Guangzhou, China. It is a great example of our unique business: combining deep, local knowledge of our African customers with our international expertise and experience.
For more information, please contact:
Nii Okai NunooArea Head of Corporate Affairs, West Africa
Tel: +233(0)21 669688 Fax: +233 (0) 21 661676
Nii-Okai.Nunoo@standardchartered.com