Bank of Africa to Scale up SME Support

The Bank of Africa BMCE Group has announced plans to significantly expand its support for small and medium-sized enterprises (SMEs), positioning the sector at the centre of its strategy to drive job creation and inclusive economic growth across its markets.

Group Chief Executive Officer Amine Bouabid made the announcement during a cocktail reception held in his honour as part of an official visit to Ghana, where he engaged with clients, partners, and senior management of the bank’s Ghana operations.

He underscored the critical role SMEs play in economic transformation, describing them as the backbone of most African economies. According to him, any serious effort to address unemployment and stimulate sustainable growth must be anchored on deliberate and expanded support for small businesses.

“SMEs are the backbone of our economies. If we are serious about job creation and inclusive growth, then we must deliberately increase support to this sector,” he said. “At Bank of Africa, we are scaling up financing, advisory services, and partnerships to ensure small businesses can grow and create sustainable jobs across our markets.”

Mr. Bouabid explained that the bank’s approach goes beyond traditional lending, with a focus on building ecosystems that enable SMEs to thrive. This includes strengthening advisory services, improving access to tailored financial products, and deepening strategic partnerships that can unlock new opportunities for business expansion.

At the country level, Managing Director of Bank of Africa Ghana, Abderrahmane Belbachir, reaffirmed the subsidiary’s commitment to aligning with the group’s broader vision. He noted that the bank is repositioning its operations in Ghana to better respond to the evolving needs of businesses.

“We are repositioning our operations in Ghana to better support businesses. This includes diversifying our investments and increasing access to financing for SMEs and key sectors of the economy,” he said. “Our focus is to build long-term partnerships with our clients and provide tailored solutions that respond to their evolving needs.”

The renewed strategy also reflects a shift toward more targeted and impact-driven banking, where financial institutions play a more active role in nurturing enterprise growth rather than simply providing capital.

Head of Marketing and Corporate Communications at Bank of Africa Ghana, Leila Pentsil, emphasised the importance of stakeholder engagement in achieving these objectives. She noted that platforms that bring together clients and partners are essential for aligning expectations and strengthening collaboration.

“Engagements like this are critical in strengthening our relationships with clients and partners. They allow us to share our vision and align on how best we can support business growth,” she said.

The bank’s expanded SME focus comes at a time when access to finance remains one of the most significant constraints facing small businesses in Ghana and across the continent. By scaling up its interventions, the Bank of Africa BMCE Group is positioning itself as a key player in bridging this gap, while contributing to broader economic resilience.

The initiative is also aligned with growing recognition that SMEs are central not only to employment generation but also to innovation, value addition, and export diversification. With enhanced financing, advisory support, and partnerships, the bank is betting that a stronger SME sector will translate into more inclusive and sustainable economic growth.

As Ghana continues its economic recovery and private sector expansion, such targeted interventions are expected to play a critical role in unlocking the full potential of local enterprises and driving long-term development.