Societe Generale Ghana (SG Ghana) has reaffirmed its commitment to supporting Ghanaian businesses by hosting an SME workshop under the theme “Innovative SG Banking Products – Financing with or without Security.”
The workshop was held at Western Serene Atlantic Hotel, Takoradi. The event brought together over 50 small and medium-sized enterprises (SMEs), including 18 women-led businesses, for a day of financial education, strategic insight, and networking.
Opening the workshop, Gabriel Siaw Owusu, Head of Business Banking at SG Ghana, outlined the Bank’s aggressive strategy to expand its SME portfolio, which has seen remarkable growth fromGH¢250 million in 2020 to over GH¢1.0 billion in 2024.
“We are projecting an additional 35% growth in 2025,” Mr. Siaw stated, attributing this upward trajectory to a range of forward-thinking products designed to ease access to finance for Small and Medium Enterprises (SMEs).
Among the key innovations presented were financing options requiring little or no collateral, such as Purchase Order Financing, Invoice Discounting, and Factoring. Purchase Order Financing enables SMES to access funds to pre-finance orders or contracts, while Invoice Discounting and Factoring unlock funds tied up in receivables.
These facilities have been designed to offer real-time solutions for businesses managing delayed payments from clients. They are designed with minimal document requirement, faster turnaround times, and competitive pricing structures, making them practical tools for business continuity and growth.
Additionally, Mr. Siaw Owusu introduced SG Ghana’s Finance Lease product, which enables SMEs to acquire critical equipment or assets without depleting their working capital. He explained saying “Our approach is simple: remove barriers to access while delivering financial solutions that meet the exact needs of growing businesses”.
The workshop also featured a presentation on the SG Ghana Home of Business (HoB) initiative- a unique non-financial support platform launched by the Bank to provide free business advisory services. Mr. Sampson Teye Batsa, Consultant for the initiative, in the presentation highlighted that through the HoB, SMES, whether they bank with SG Ghana or not, can access expert consultancy on legal, tax, HR, insurance, accounting matters, and more. These services are offered through partnerships with reputable professionals and institutions, available both physically at the Osu hub and digitally nationwide.
Mr. Batsa further highlighted two flagship products: The Boafo Working Capital Loan, a facility that allows SMEs to access funds with minimal initial security while building collateral over time; and, the SG Woman Loan, tailored for women-owned or managed businesses, offering loan facilities with only a 15% cash deposit as security, alongside highly competitive rates.
“This is not just about credit. It’s about building strong, resilient businesses through access to the right capital and the right expertise,” Mr. Batsa emphasised.
The event concluded with an engaging Q&A session, providing participants the opportunity to explore how SG Ghana’s tailored solutions can be applied to their specific business contexts.
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