Management of Societe Generale Ghana has commissioned a business centre dubbed “SG Home of Business” at the bank’s Osu branch in Accra.

The center was to foster development of the economies and populations through multi-dimensional support for SME’s, infrastructure financing, innovative financing solutions and financial inclusion.

Mr Alexander Maymat, Director of International Retail Banking of Africa, Societe Generale Group said the centre comes in addition with the Bank’s decision to increase access to credit to support SMEs, which are the cornerstone of African economies.

“Infrastructure financing is another key aspect of development in Africa, especially in energy, transport, water and waste management, and even the development of smart cities”, he added.

Structured Finance

He said the bank plans to double its workforce dedicated to structured financing by the end of 2019 and increase its financial commitment related to structured finance in Africa by 20 per cent over the next three years.

Touching on innovative Financing, with emphasis on Agricultural Industries and energy partnerships, he said the bank was planning to provide access to a range of banking and non-banking services to one million farmers over the next five years.

He explained that the initiative was being made possible by YUP, the bank’s online Mobile money platform that brings finance to the doorstep of everyone.

He said the bank would continue to roll out YUP, which offers simple, accessible, bank-like products to a broad population, the majority of whom does not currently have access to banking services.

Unbanked Population

Mr Maymat said 80 per cent of the African population remains unbanked and microfinance remains crucial to integrating the section of the population that have not accessed the traditional banking system.

According to him, a new distribution models that use mobile devices was a more practical approach to serving the unbanked populations.

“Under this strategy, the approach was twofold; first, working through partner Microfinance agencies to expand the scope and sustainability of client’s activities”.

Mr Maymat said, the bank’s experience in the country was good, adding that, the country was developing fast and so are the needs of our clients.

“Clients are finding in Ghana their own way to consume banking products and services, and we believe that our unique positioning which combines knowledge of the local economies and the expertise of an international banking group are key to support the country’s development”, he added.

Mr Hakim Ouzzani, the Managing Director, Societe Generale Ghana said the bank’s desire to contribute to sustainable development in Africa was driven by the initiatives of the Societe Generale Corporate Foundation for Solidarity.

He said the Foundation had supported about 100 projects promoting professional integration in 14 African countries, and the budget it dedicated to projects in Africa would be considerably increased over the coming years.

Source: GNA