SMEs challenged to prioritise bankability to attract the right funding
By Dominic Hlordzi A Senior Manager at Deloitte Ghana, Cheryl Otoo, has challenged Small and Medium-sized Enterprises (SMEs) to look beyond business growth and prioritise bankability if they are to attract the right sources of funding. Ms Otoo said although growth demonstrated that a business was creating value, it did not, on its own, give […]
Cheryl Otoo, a Senior Manager at Deloitte Ghana, urged Small and Medium-sized Enterprises (SMEs) to prioritize bankability to secure funding. While growth showcases value creation, it doesn't guarantee lenders and investors' confidence. A bankable business stands ready for funding, boasting credible financial records, a strong management team, robust governance structures, solid risk management systems, a clear strategy, and evidence of market traction.
Certain elements are crucial to bankability, such as credible financials, governance, risk management, strategy, market access, and market traction. Experts from Deloitte Ghana and the UK GCC emphasized that growth signifies opportunity, whereas bankability attracts capital.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
