Union Trust Bank Limited has launched Helping Others Promote Enterprises (HOPE) designed to capture the presently unbanked sector of the economy.
UTB which is geared towards empowering Sierra Leonean commerce is bringing HOPE for inclusion into the formal banking and financial system through Credit and Retail Financial Services to Small and Medium scale Enterprise (SME) development.
The objective of the new product is to establish a foothold in the small and medium scale enterprises segment as an integral part of the national economy. It is also geared to support the Government’s commitment on creating job opportunities and the development of skills and trades and to provide financial and banking solutions for small and medium scale enterprises.
The target groups will be individuals doing petty trading like garri, rice, palm oil, used clothing, fish mongers and the rest. Shop owners, community based development and trading organizations, registered small businesses whilst transport operators, petroleum dealers, medium- sized enterprises, organizations and cooperatives will be part of the targeted groups.
HOPE seeks to complement national efforts at providing financial services to small and medium scale enterprises that will improve the lot of Sierra Leoneans and to support the bank’s vision of empowering Sierra Leonean commerce.
By Ishmael Bayoh