Absa Bank has demonstrated its commitment to supporting Ghanaian small businesses by donating GHS 150,000 to support traders affected by the devastating fire on January 2.
The donation comprised GHS 100,000 in cash and GHS 50,000 worth of roofing sheets to aid rebuilding efforts of the traders.
The brief presentation at the Kantamanto market was attended by officials of Absa Bank and representatives of all the trading associations in Kantamanto.
Kobla Nyaletey, Managing Principal at Absa Bank Ghana during his remarks, expressed deep sympathy for the traders’ losses and emphasized Absa Bank’s proactive support in his address.
Mr. Nyaletey outlined three key initiatives for the traders: a donation of GHS 150,000, offering loans to traders at a favorable 10% interest rate, and establishing an Absa presence within Kantamanto Market to facilitate seamless transactions.
The Director of SME, Agency Banking, and Partnerships at Absa Bank, Audrey Abakah, also highlighted the bank’s commitment to supporting traders through innovative financial solutions.
“As a bank that cares and seeks to empower Africa’s tomorrow, we could not sit idly by but felt compelled to meet with the executives of the Second-Hand Used Clothing Association to make a donation and present specially designed packages for wholesalers and traders.”
Dr. Joseph Obeng, president of the Ghana Union of Traders Association (GUTA), expressed gratitude for the bank’s swift intervention, saying, ‘We thank Absa for listening to our cry and coming to help us. Absa has once again proven to be a friend of traders. The support Absa has given us today shows the integrity of the bank.”
“We will use the money to rebuild Kantamanto and not for anything else,” added Dr. Obeng.
