Ghana – Government leads the way in encouraging growth and development of SMEs

The Assistant Industrial Promotion Officer at the Ministry of Trade and Industry Ms. Diana Ama Gyemfi has said government has led in the way of encouraging growth and development of SMEs, through policy interventions that encourage easier access to SME financing among which are the EDAIF fund now EXIM Bank.

She was addressing a day’s Workshop organized in Kumasi at the Golden Tulip Hotel dubbed “SMEs Business Clinic” for SMEs in the Ashanti Region on Monday 22nd May. This was to provide the platform for the SMEs to discuss issues affecting their growth.

The workshop, organized by “Imagine8” an events’ management company, and the organizers of SME Ghana (SMEGA) Awards in partnership with Vodafone Business Solution and The Ministry of Trade and Industry also attracted representatives from the banking, insurance and investment institutions.

Participants at the SMEs Business Clinic at Golden Tulip Hotel, Kumasi.

Ms. Diana said the government policy is to assist in developing management skills such as the KAIZEN through NBSSI; which is about continues improvement in productivity and improved efficiency, eliminating waste for more profitability to help SMEs gain a foothold in local and international markets among others.

Participants at the SMEs Business Clinic at Golden Tulip Hotel, Kumasi.

She also revealed that the ministry has opened trade mission offices in nine strategic countries which include; The United Kingdom, Geneva in Switzerland, Brussels in Belgium, The United States of America, Nigeria, Japan,  Turkey, South Africa and China.

The initiative according to her, is part of the efforts of government in strenthening Ghana’s trade relations with these countries and also attract investment into the country.

Ms. Gyamfi indicated that the contribution of the SMEs to economy was enormous and that way why everything was being done to make sure that they thrived.

These enterprises are estimated to contribute about 70 per cent of Ghana’s Gross Domestic Product (GDP).

Mr. Jerry John Quarhie, the Head of SMEs at Vodafone, speaking with FernilNews.com, challenged every business to take up the opportunity to be educated and discuss their challenges so that they can understand the best practices available to be able to run their business well, attract investment and also be able to stand the test of time in the face of technological advancement globally.

He therefore calls on SMEs to take up the challenge of the offer of telecom-solutions so they can take advantage of the digital space to run their business well.

Source – Fernilnews.com