SOCIETE GENERALE GHANA HOSTS CORPORATE CLIENTS TO BREAKFAST SESSION ON TRADE FINANCE

Fig 1. Some Executive Committee Members of SG Ghana and Corporate Clients in Attendance

The session was attended by business owners and heads of finance from various industries, including commerce, agriculture, automobile, manufacturing and others.

Managing Director of the bank, Mr. Hakim Ouzzani, in his brief opening remarks set the tone for an insightful discussion, explaining the purpose for hosting such a session for the bank’s clients.

“In today’s rapidly evolving business environment, efficient working capital management and well-structured trade finance solutions have become critical to sustaining growth, ensuring liquidity, and maintaining a competitive edge”, he stated.

Fig 2- MD of Societe Generale Ghana, Mr Hakim Ouzzani

The session featured a comprehensive presentation on the bank’s trade finance solutions by trade finance expert, Mr. Vernon Obeng-Darko. He highlighted the solutions designed by the bank to offer security and support, catering to the working capital needs of corporates involved in cross border transactions.

Key payment solutions presented included advance payments, open account payments, and documentary collection. Mr. Obeng- Darko highlighted the benefits and risks involved in these options and zeroed in on the option of the Letters of Credit (LCs) as the most secure payment alternative for exporters who may need pre-export financing solutions. He also delved into the various types of letters of credit including Red Clause LCs, Transferable LCs and Back-to-Back LCs, stressing on it as an excellent alternative to advance payment options.  

Factoring and Leasing expert of the bank, Mr Richmond Twum-Barimah, also touched on some pre and post shipment financing options available to exporters, with particular emphasis on the finance solution, Factoring. Mr. Twum-Barimah highlighted Factoring as a facility that provides up to 90% of invoice value upfront through the assignment of receivables, improving working capital of the customer. This innovative solution is currently being offered exclusively by Societe Generale Ghana.

The highly interactive and engaging session ended with Mr Sampson Batsa, SME Consultant for the bank, offering clients the various free advisory services available at the SG Home of Business.

Societe Generale Ghana remains committed supporting the growth of its clients through secure, innovative financial services that enable sustainable growth.