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Access Bank to support entrepreneurs in hospitality business

By on August 6, 2013

Access Bank Plc has expressed its preparedness to support operators in the hospitality business in the country.

The Managing Director, Access Bank Plc, Mr. Aigboje Aig-Imoukhuede, said at a business growth forum organised by the bank for its customers on Tuesday that the bank had always believed its future was based on its ability to serve entrepreneurs.

Aig-Imoukhuede said entrepreneurs that had courage and vision to run their own businesses made economies grow globally.

He added, “In Access Bank, we tend not to do things until we are ready to do them and at a standard that is of global standard. This is the first of our monthly series where we will interact with entrepreneurs across various sectors. These sessions are meant to be like a steroid injection into your business where you spend hours with intense discussions.”

Aig-Imoukhuede noted that apart from credit and banking services, other important things that a bank could provide to its customers were advice and networking.

In his presentation, the Senior Manager, Business Banking Division, South, Access Bank, Mr. Mike Nwankwo, said that there were great opportunities in the hospitality industry considering the positive outlook on the Nigerian economy.

He listed the capital intensive nature of the industry and lack of trust in employees as some of the challenges in the industry.

Nwankwo said, “That is why Access Bank has put up this forum to interact with people like you to see how these challenges can be addressed to further enhance your business. Access Bank is going to be looking at the business support platform, capacity development and financial market knowledge. It goes beyond just providing you money to fund your business.

“In Access Bank, we have looked at the nature of SME businesses and what we have done is to create a unique account that would address the business that you do. We know that paying commission on turnover will be very difficult for you, we know that you have employees who may need soft loans in form of salary advance, and we have created a hybrid current account that has many features to take care of these.”

 

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