Guaranty
Trust Bank yesterday 13 March 2017 held a day-long seminar for SMEs at the
Ocean Bay Resort, as part of its 15-year anniversary celebration.
The
seminar discussed topics such as Opportunities for SMEs, Overview of SME
Business in The Gambia, Sources of Capital for SMEs and Options for Financing
Growth, Role of SMEs in Economic and Social Development, Sustainable Growth and
Survival Strategies for SMEs and Personal Transformation Key to Economic
Growth.
The
bank on the same day also launched its 2017 Save and Win Promotion and Fast
Track Service.
The
bank also presented cheques for US$10,000 to SOS Child Village for the upkeep
of the place, D500,000 to school football for the GTBank Cup and D100,000 to
Sinchu Orphanage.
In
his statement on the occasion, GTBank MD/CEO Bolaji Ayodele said GTBank came to
The Gambia 15 years ago with the promise of delivering innovative products and
services focused on empowering their customers, communities and the Gambian
economy.
Over
the years, he added, they have built a strong foundation and are well
positioned for continued growth, which is a testament to the world-class
standard of their services and the commitment of their members of staff.
“Today,
we are humbled by the confidence that our customers have in us and assure them
of our continued commitment to providing superior banking experience that
places them at the heart of everything we do,” he stated, adding: “15 years
ago, in the minds of many ‘GTBank was a Nigerian Bank’. However, today in the
minds of many ‘GTBank Gambia is a Gambian Bank that is here to stay and to work
with the people for development of The Gambia’.”
He
thanked God for all the successes their brand has registered in The Gambia. He
also thanked the Government of The Gambia for providing the right conditions
for banking operations in the country and for maintaining peace and
tranquility, which is paramount for sustainable business. He also thanked the
people of The Gambia for believing in them and embracing their brand.
According
to him, the remarkable patronage of Gambians and the enabling environment
created by the government for banking and the resilience and determination of
their staff are the reasons behind the enviable success registered by GTBank.
He
noted that they organised the seminar for SMEs because they have in recent
years seen them grow significantly and contribute remarkably to the economy in
terms of employment and youth empowerment, despite the numerous challenges they
face.
“We
believe that with the right support and investment, SMEs would accelerate the
country’s development,” he pointed out.
“While
most people would think that the greatest problem for SMEs is that of
financing, we believe that what they need more is to understand the
fundamentals of business development and apply simple tested principles to
develop and operate profitably.”
GTBank
Executive Director Isatou Jawara, in launching the Bank’s Fast Track Service
and 2017 Save and Win Promotion, said the promo is one of their ways of giving
back to the people that have so much trust in GTBank and to also promote the
national development agenda.
She
recalled that the promotion was done last year, and they decided to repeat it
this year to continue encouraging customers to exercise the habit of saving.
Winners
would be awarded on a quarterly basis in July, October and at the end of 2017,
she announced, saying prizes to be offered are divided into three categories
with the intention of accommodating all customers.
Ms
Jawara explained that to qualify as one of the prize winners, customers are
expected to maintain deposit balances as follows: in category one, D10,000 to
D50, 000 with ten customers to each win 2 bags of rice, 1 bag of onion, 1 bag
of 25 kg sugar and a gallon of 20-litre vegetable oil.
In
category two, the customer should maintain deposit balances of above D50,000.
Prizes are a motorbike, fridge freezer and 32-inch LED TV set.
In
category three, the customer is to maintain deposit balance of D200,000 and
above, from April to December. The grand final prizes for the 3rd category are
a complete bedroom set for the third winner, return ticket to Dubai for one
person and travel money of $2,000 for the second winner, and Hyundai Tucson for
the first winner.
She
explained that the Fast Track Service is available in all their branches to
allow quick withdrawals using their POS terminals by any person holding any
local card and visa card of any bank.
The
service, according to her, is expected to decongest their banking halls, adding
that there is a dedicated teller for the service in all their branches.
“You
need no deposit slip to be filled for withdrawal; only insert your card and
enter your PIN and then the amount; the machine will produce two receipts, one
for the customer and the other for the teller, the teller would pay you the
amount withdrawn; no ID is required for the transaction, she further
explained,” she explained.
Suwaibou
Cham, in his keynote address, in deputising for GIEPA CEO, said many a time the
challenges of businesses are finance, but was quick to add that at GIEPA they
believe finance is part of, but not the only problem.
Mr
Cham tasked banks to make finance available, accessible and affordable to SMEs
in the country, saying it is the duty of the private sector to help SMEs grow.
Lamin
Dampha, DPS Ministry of Trade, in his opening statement on behalf of his PS,
said that over the years, they had supported SMEs because they believe helping
the SME sector will provide the basis for development in the country, since
they form the foundation of businesses in the country.
SMEs
are the central component of any economy, he added, saying SMEs are essential
to economic growth, creation of employment, very vibrant in creating wealth,
increase skills development and also have broader social impacts.
SMEs
employ over 60 present of the labour force and contribute 20 present to the
country’s GDP, he announced, adding that they play multiple roles in the
economy.
