[ 2017-05-17 ]

UMB Centre for Businesses and the UMB PPP Incubator Centre are located in Madina

UMB inaugurates PPP incubator centre for one district, one factory policy
Building on its long and proud history of
developing businesses in Ghana, in October 2016
UMB unveiled the UMB Centre for Businesses in
Ashtown, Kumasi.

The vision of the UMB Centre for Businesses is to
set a new standard in the delivery of SME banking
services and to enhance the competitiveness of UMB
in the SME market.

This vision has been given a boost with the
inauguration of the second UMB Centre for
Businesses in Madina, Accra.

This UMB Centre for Businesses, just like the
first one in Ashtown, Kumasi, will offer quick and
relevant financial and non-financial services to
SMEs in Accra and its environs.

The Chief Executive Officer of UMB, Mr. John
Awuah, said that the unique needs of SMEs cannot
be addressed by the traditional operational
parameters of most banks and that is why UMB
decided to invest in the establishment of the UMB
Centre for Businesses. According to Mr. Awuah, the
UMB Centre for Businesses “was set up to address
the risk and growth needs of SMEs in a manner that
is efficient and streamlines the often cumbersome
process of accessing credit and advisory
support.”

At the event, the Bank also outdoored the UMB PPP
Incubator Centre, a ground breaking concept that
will partner with the government and the private
sector to support the One District, One Factory
initiative. It will be recalled that UMB recently
pledged to create liquidity space of up to 100
million US Dollars to support this initiative.

This means that for qualified private sector
businesses who want to partner with the government
to build factories in the districts, the UMB PPP
Incubator Centre will provide a wide range of
services including technical support and financing
to enable them to complete their projects.

Speaking at the event, UMB Board Chairperson, Mrs.
Elizabeth Zormelo noted that “even though the
UMB PPP Incubator Centre was established to
primarily support the One District, One Factory
initiative, it will also support other Public
Private Partnership (PPP) projects that are not
necessarily linked to the One District, One
Factory Initiative.”

Mrs. Zormelo further stated that while UMB will
continue to develop and invest in its retail
banking infrastructure, the bank will also build
strategic partnerships that will help to cement
its position as the preeminent bank for corporates
and SMEs in Ghana.

The UMB Director of Consumer and Business Banking,
Mr. Kevin Cain who has responsibility for the
strategy and operations of both Centres, stated
that, “UMB’s reputation as a business friendly
bank is once again demonstrated by the
inauguration of not one, but two Centres to
support the needs of enterprises in various
sectors of the economy.”

According to Mr. Cain, “To us at UMB, small
business is big business and we believe in
pursuing initiatives that have the potential to
positively impact the growth of Ghana’s economy.
I encourage all business owners and private sector
organizations to visit the UMB Centre for
Businesses and the UMB PPP Incubator Centre, and
our friendly and knowledgeable staff will be more
than happy to assist them.”

Both the UMB Centre for Businesses and the UMB PPP
Incubator Centre are located in Madina on the
Accra Dodowa Road near Peter Pan restaurant and
judging from the reception at the inauguration
ceremony, these centres will transform banking in
the SME and public private partnership space.

Source - UMB

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