Bank financing and growth of SMEs in the Kumasi metropolis: A case study of Prudential Bank Ltd.
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Date
2016-08
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KNUST
Abstract
The study examined the role of Prudential Bank Limited in financing small and medium enterprises in the Kumasi Metropolis of the Ashanti Region. Among the issues studied include identifying the specific products and services offered by Prudential Bank to SMEs in the Kumasi Metropolis, assessing the contribution of Prudential Bank‘s products and services on the development of SMEs and assessing the challenges faced by Prudential Bank and SMEs in financing. The study was based on the use of questionnaires and interviews. Primary and secondary data were used in the course of the study. Purposive and simple random sampling techniques were used. Fifty (50) SME operators were used with one staff member from Prudential Bank Ghana Limited. The results from this study indicated that Prudential Bank Ghana Limited has lots of products and services for SMEs, these include prudential enterprise account, prudential business accounts, savings account among others. These products have impacted on SMEs by increasing revenue for SMEs. Among the challenges faced by SMEs are interest rates on facilities and difficulty in accessing facilities. Prudential Bank on the other hand is faced with loan recovery challenges and high default rates. The researcher offered useful suggestions and recommendations in conclusion to address these challenges.
Description
Thesis Submitted In Partial Fulfillment For The Requirements For Award Of Master Of Science Accounting.