Small and Medium-sized Enterprises (SMEs) are the lifeblood of economies. They function the engines of innovation, financial development, and job creation. At the top of 2021, there have been roughly 332.99 million SMEs worldwide, constituting over 90 % of companies and accounting for greater than 50 % of world employment.
Recognizing the pivotal function that SMEs play in shaping economies, Zenith Bank has offered SMEs and small Corporates with the SME Business Card – a revolutionary monetary device to propel their companies to new heights.
The world financial energy of SMEs
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Globally, SMEs contribute considerably to financial vitality. They signify 50 per cent of the worldwide Gross Domestic Product (GDP) and supply employment for 60 per cent of the non-public sector workforce. The influence of SMEs extends to all corners of the globe, fuelling financial development and fostering resilience.
Particularly noteworthy is the substantial contribution of women-led SMEs, comprising an estimated 37percent of all SMEs globally. In Africa, the place the entrepreneurial spirit is vibrant, SMEs account for an estimated 37.7 million enterprises, contributing to 34percent of GDP and offering employment for 63percent of the workforce. The significance of SMEs within the African context can’t be overstated, as they type the spine of many nationwide economies.
Closer dwelling, there are roughly 850,000 SMEs, representing about 90percent of companies and contributing to greater than 80percent of employment. The financial contribution of SMEs in Ghana is much more notable, constituting round 70percent of the nation’s GDP and 80percent of personal sector employment. Again, Women-led SMEs play a major function in Ghana’s enterprise panorama, accounting for an estimated 43percent of all SMEs.
Key options and advantages: empowering SMEs for fulfillment
The Zenith Bank SME Business debit card is an inclusive strategy which ensures that companies starting from the native hair and cosmetics supplier in Makola to pharmacies on Ring Road and boutique legislation companies at Adjiriganor can profit from.
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Powered by a partnership with Visa, the Zenith SME Business Card stands out from conventional company and particular person playing cards. Its distinctiveness lies in its laser deal with addressing the distinctive wants of SMEs.
The SME Business Card unlocks a myriad of options designed to empower SMEs on their journey to success.
The next spending restrict gives companies with the pliability to make important purchases, whereas unique reductions in partnership with Visa deal with digital interactions, together with Facebook and Instagram advertisements. These reductions function a catalyst for enterprise development, providing tangible advantages to SMEs partaking within the digital market.
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Beyond facilitating transactions, the Zenith SME Business Card performs a pivotal function in guiding credit score choices. By analysing the typical spend of cardholders, the financial institution positive factors insights into their monetary behaviour. This knowledgeable strategy ensures that credit score limits are set at ranges that align with the monetary capability of the enterprise, fostering accountable monetary administration.
Recognizing that SMEs typically face challenges in monetary administration, Zenith Bank goes a step additional by providing a complimentary accounting software program, QuickBooks, by its partnership with Visa. This value-added service assists SMEs in reconciling their debits and credit, offering a clearer image of their monetary well being.
One of the crucial components of the SME Business Card is the dedication to monetary literacy. In response to the widespread concern of restricted entry to monetary schooling, Zenith Bank is creating an SME monetary literacy abilities platform.
This platform will enable SMEs to study at their very own tempo, having access to programs that empower them with important monetary data. Importantly, this platform might be completely accessible to SME Business Cardholders, making certain that they’ve a aggressive edge by way of monetary literacy.
Security is a paramount consideration within the design of the Zenith SME Business Card. Employing state-of-the-art expertise, the cardboard options PIN and chip-enabled safety, providing a strong defence in opposition to unauthorized transactions. The inclusion of 3-D Secure for on-line transactions provides an additional layer of safety, making certain a safe digital expertise for cardholders. Real-time notifications additional improve safety, promptly alerting cardholders to any unauthorized exercise. In the occasion of an unauthorized transaction, immediate communication with the financial institution by the 24-hour Zenith Direct Contact Center ensures swift decision.
Support is a cornerstone of the SME Business Card providing. Cardholders profit from entry to the 24-hour Zenith Direct Contact Center, offering world assist no matter their location. Additionally, every cardholder is assigned a devoted Relationship Manager, making certain a personalised and responsive buyer expertise.
Seamless integration: acquiring your SME Business Card
Acquiring the SME Business Card is a simple course of for present Zenith Bank account holders. By finishing a easy type devoted to the SME Business Card, in-branch, by way of your Relationship Manager or on-line, companies can unlock the potential of this tailor-made monetary device. With a dedication to effectivity, Zenith Bank endeavours to supply cardholders with their SME Business Card inside 24 to 48 hours, making certain a fast and seamless integration into their enterprise operations.
Zenith Bank: pioneering tailor-made options
The Managing Director/Chief Executive Officer (MD/CEO) of Zenith Bank Ghana Limited, Mr. Henry Onwuzurigbo stated the initiative was born out of a realization that, SMEs in Ghana face a major credit score hole which is exacerbated by the restricted availability of economic merchandise tailor-made to satisfy the distinctive wants of SMEs.
“The introduction of the SME Business Card addresses this gap, giving SMEs a financial tool expressly designed to cater to their specific business requirements”, he stated.
Targeting companies within the industrial sector and small corporates, Mr. Onwuzurigbo stated the cardboard is tailor-made for enterprises with as few as one worker to these with as much as 100 staff, whose annual turnover doesn’t exceed the cedi equal of US$5 million.
Promise of development: Zenith Bank’s dedication to SMEs
The MD/CEO assured that Zenith Bank stands as a steadfast companion within the journey of SMEs, offering not simply monetary instruments however a holistic assist system that propels companies in the direction of unparalleled success.
“As SMEs embrace the SME Business Card, Zenith Bank promises to deepen the ecosystem continually. Through ongoing usage and valuable feedback from cardholders, the Bank pledges to expand partnerships, further enhance the features and benefits of the card, and ultimately contribute to the sustained growth of businesses,” he added.
Zenith Bank Ghana is a subsidiary of Zenith Bank Plc, headquartered in Nigeria with presence in different West African Countries, the Middle East, Asia and Europe. It is a member of the Ghana Deposit Protection Scheme.