Stanbic Bank Urges Startups to Build Strong Foundations for Long-Term Growth
Stanbic Bank Ghana has reaffirmed its commitment to nurturing resilient and investment-ready businesses. Participating in a panel discussion at the Sankofa Innovation Summit on the topic “Enabling Growth”, the Head of Enterprise Banking at Stanbic Bank, Gloria Bempong, highlighted a practical roadmap to help startups transition into sustainable enterprises.
She emphasized that the bank’s approach to supporting businesses goes beyond chasing already successful ventures. According to her, Stanbic Bank rather prioritizes entrepreneurs who demonstrate a willingness to build strong internal structures that can support long-term growth.
“Success is important, but structure is essential. At Stanbic, we don’t only look at the size a business is today; we pay close attention to its commitment to doing things the right way. That includes basic but critical elements like tax compliance, proper governance, and the use of digital systems to manage operations.”
She explained that many promising startups struggle to attract financing not because their ideas lack merit, but because weak internal systems expose them to operational and financial risks. According to her, these gaps often make businesses look risky to lenders and investors, regardless of their growth potential.
Madam Bempong highlighted the Stanbic Business Incubator as a key intervention designed to address these challenges. The Incubator, she said supports early-stage and growing businesses with capacity-building tools that help formalize operations, improve financial discipline, and strengthen governance frameworks.
“Our role is not just to provide funding. We walk with entrepreneurs as they build the foundations that make funding possible in the first place. Through the Business Incubator, we help businesses put the right systems in place so that when opportunities come, they are ready to take advantage of them,” she said.
She further added that digital transformation remains a major pillar of Stanbic’s enterprise support strategy, particularly as businesses navigate an increasingly competitive and technology-driven marketplace. “Digital systems help businesses track performance, manage cash flows, and make informed decisions. Without reliable data and processes, growth becomes difficult to sustain. That is why we encourage entrepreneurs to invest early in digital tools that support transparency and efficiency.”
Ms. Bempong stressed that sustainable enterprises are built deliberately, not accidentally. “Growth should be intentional. When businesses take the time to build solid structures, they not only improve their chances of accessing finance but also position themselves to survive economic shocks and scale responsibly.”
The Sankofa Innovation Summit brought together entrepreneurs, investors, policymakers, and business leaders to explore practical strategies for scaling innovation-led enterprises in Ghana. Panel discussions focused on access to finance, operational resilience, and the role of institutions in enabling private sector growth.
Picture: Resource persons and participants at the Sankofa Innovation Summit held at the Stanbic Bank Incubator.