Bank’s policies won’t help small businesses

THE greatest impediment to small businesses growing in this country are the banks especially Bank South Pacific with policies that are unworkable for all small to medium enterprises (SMEs).
Most of their policies including obtaining small loans are so rigid and cumbersome that small aspiring businessmen and women are psychologically devastated as soon as they walk into the bank whilst the bank officers are running through the rigid processes.
The Government has put money into a hole that none of the grassroots and aspiring SME operators will benefit from.
They won’t even be able to access K20,000 at the very minimum.
The BSP chief executive officer spelt out all the rules and policies immediately after the K100m was paid by the Government to the bank.
Ninety per cent of the SMEs will not meet the criteria. As always, the money is for politicians and business houses.
It is all for the big boys.
Is the prime minister serious about helping the people?
Over to you Prime Minister James Marape.

Vegetable Farmer
Pom