Support young businesses to reach global standards – Absa’s Kobla Nyaletey

Absa Bank's Executive Director Kobla Nyaletey encouraged Ghanaian companies to back emerging local businesses, even if their initial quality falls short, at the E-Jobs4All Development Summit.

He emphasized that supporting young businesses would foster sustainable quality and global competitiveness. He advised mentors and investors to balance guidance with creative freedom and called for accessible financial options, from grants to low-interest loans.

Highlighting Absa’s collateral-free SME loans at 10% interest, he noted that the bank has supported nearly 7,000 MSMEs, creating over 49,000 jobs. The summit featured sessions on entrepreneurship, innovation, and sustainable development.