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Stephen Armah, Director of Sustainability at the Supervision Department of the Bank of Ghana, has encouraged Small and Medium Enterprises (SMEs) to integrate Environmental, Social, and Governance (ESG) practices into their business models to promote sustainable growth.

Speaking at Absa Bank's SME Business Development Clinic in commemoration of this year’s World SME Day, Mr Armah emphasized the importance of integrating ESG into the businesses of SMEs, as it helps build trust and transparency.

He further highlighted the importance and benefits of integrating ESG practices into the operations of SMEs.

"SMEs must take the ESG into consideration to ensure sustainability. ESG can enhance SMEs' resilience. Avoid operating as a 'one-man show' if you want your business to continue and thrive, and instead, focus on ESG practices. It's important to recognize that SMEs must grow and be sustainable to support the economy" he averred.

The interim Managing Director of Absa Bank, Adolph Kpegah on his part, mentioned that 7000 SMEs have already been trained He assured SMEs that the bank will continue to provide more avenues to share ideas to improve their businesses.

"SMEs are pivotal in our economy...We believe in empowering you not just financially but also offer advice to help you grow and become sustainable" he added.

Absa Business Development Clinic

This event themed "Adopting ESG Practices for Business Growth"  was held by Absa Bank Ghana LTD, in collaboration with the World Bank. 
It's part of Absa’s ongoing commitment to fostering business resilience and community development as well as promoting sustainable business practices within the SME sector.

It is to educate and inspire SMEs on the benefits of adopting ESG practices, thereby enhancing their competitiveness, attracting investments, and ensuring long-term sustainability.