GCB Bank urges MSMEs to formalise businesses for easier access to finance

Speaking to the media after GCB Bank’s MSME Caravan Clinic in Accra, held under the theme “MSME Unlocked: Powering Ghanaian Businesses for Sustainable Growth,” Mr McAddy said poor record-keeping and inadequate documentation remain significant challenges for MSMEs seeking financing from formal financial institutions.

According to Mr McAddy, GCB Bank is seeking to address the challenge by helping businesses improve how they receive and record payments through its collection and digital banking solutions.

Digital tools for business Beyond financing, Mr McAddy said GCB was also helping MSMEs improve the way they conduct and manage their businesses through digital solutions.