Madam Pearl Nkrumah, the Executive Director for Retail and Digital Banking at Access Bank (Ghana) Plc, has called on financial institutions to play a proactive role in supporting the growth of Ghana's tourism and creative arts industries.
“Financial institutions are armed with tools and skills to play a vital role in promoting tourism in the country,” she stated. “This can be effectively carried out by the provision of investment structures, loans for Small and Medium-scale Enterprises (SMEs), credit facilities for tourism projects, foreign exchange services, risk management, and insurance.”
Madam Nkrumah urged financial institutions to provide tailor-made products and services to individuals and institutions actively contributing to the growth of the tourism and creative industry in Ghana.
She believes that leveraging these tools can significantly increase the country's tourism contribution to GDP from 4-5 percent to over 20 percent.
Highlighting Access Bank's strategic investments in the sector, Madam Nkrumah mentioned a $30 million financial support to the hospitality and aviation sector.
The bank has also deployed digital banking solutions for premier events such as Afrochella, Accra Beer Festival, and Waakye Summit while investing substantially in entertainment and arts.
Access Bank's award-winning TV series, ‘All Walks of Life,' has showcased African talent globally, contributing to the growth of the industry and promoting financial inclusion.
Madam Nkrumah reaffirmed the bank's commitment to supporting Ghana's tourism industry through collaborations with the government, continuous support for SMEs, and investments in digital technologies.
“Moving forward, Access Bank plans to continue investing in specialized financial products for businesses in the tourism sector, collaborate more with the Government to align financial support with national tourism goals, provide funding for the development and improvement of tourism infrastructure, continue to commit to SMEs, and invest in digital technologies,” she added.
The Tourism Investment Summit, organized by the Ministry of Tourism, Arts and Culture, focused on the theme: “Tourism Investment, A Catalyst for National Development.”