UniCredit to increase credit to SMEs

A savings and loans company, uniCredit Ghana Limited, has launched its 10th anniversary with a promise to extend more credit to small and medium enterprises (SMEs) in the country.

The Chief Executive Officer (CEO) of the company, Mr Samuel Sakyi-Hyde, recounted some of the major achievements over the past 10 years, saying that the seed, which shareholders of the company planted in 2007, had germinated into a big tree, providing financial shade for many SMEs and individuals in the country.

The 10th anniversary, which is on the theme, “10 years of redefining SME banking”, is expected to serve as the launch pad for the introduction of new products into the SME market.

“We opened our doors as a Savings and Loans Company in 2007 and since then we have evolved and our growth and progress has been steady and phenomenal, expanding our frontiers from just a one-shop office space at Kantamanto to our current 24-branch networks,” he said.

Mr Sakyi-Hyde said over the last 10 years, uniCredit had kept faith with its target market by remaining relevant to their needs through demand driven products, as well as innovation.

“We believe in the SMEs to deliver the much-needed growth in the economy and so have set ourselves a target to partner them for growth.

“As we look forward to the next decade, we will continue to deepen relationship with our customers and put them at the centre of our business,” he added.

Growing SMEs

Mr Sakyi-Hyde said uniCredit had supported many small businesses and transformed them into successful SMEs most of which were present at the event.

uniCredit posted profit before tax of GH¢13.78 million in 2016.