The Ministry of Finance and companions have held a discussion board to sensitise Small and Medium Entreprises (SMEs) within the Northern Area on the Progress and Alternative programme (SME-GO) to assist enhance their operations.
The day’s sensitisation discussion board, held in Tamale, was attended by house owners and managers of assorted SMEs working in areas together with agriculture and its worth chains, style and design, providers amongst others.
They sought clarifications on the gives and alternatives that the SME-GO programme offered them.
The SME-GO programme is a enterprise assist initiative being carried out by the Ministries of Finance, and Commerce and Trade in partnership with the Ghana Enterprises Company, Improvement Financial institution Ghana, Ghana EXIM Financial institution amongst different companions to scale up monetary and technical assist in direction of SMEs’ development and growth.
It’s also to leverage the big potential of SMEs to propel development, present employment and foster innovation.
Dr Mohammed Amin Adam, the Minister for Finance, whose speech was learn on his behalf on the discussion board, mentioned SMEs have been essential to attaining the nation’s focused growth ambitions, therefore the necessity to assist them.
He mentioned SMEs had an important position in fostering innovation and competitiveness along with making a considerable contribution to the nation’s Gross Home Product.
Nevertheless, they’re typically confronted with a number of challenges resembling restricted entry to capital, insufficient infrastructure, and regulatory points regardless of their potential.
It’s in opposition to this backdrop that the federal government launched the SME-GO programme to deal with the challenges by offering a complete framework for the event and assist of SMEs within the nation.
Dr Adam mentioned, “We should be intentional about offering entry to monetary assets, experience, and capability constructing programmes that empower SMEs to drive innovation, create jobs, and stimulate financial development.”
He mentioned the SME-GO programme would create a platform for SMEs and lift SME champions to generate impression that resonated all through communities while leaving a legacy of empowerment, innovation, and prosperity for generations.
Mr Kofi Ahenkorah Marfo, the Deputy Minister for Commerce and Trade mentioned the federal government would assist the Ghana Enterprises Company with GHc200 million to supply small grants and loans of as much as two years of extremely subsidised charges to SMEs for development.
He added that the Ghana EXIM Financial institution would even be supported with GHc500 million to supply SMEs extremely subsidised monetary assist while the Improvement Financial institution Ghana would additionally commit a complete of GHc1.2 billion to SMEs via taking part monetary establishments.
Mr Marfo urged the varied SMEs to make the most of the SME-GO programme to create a vibrant ecosystem for financial transformation.
Alhaji Shani Alhassan Saibu, the Northern Regional Minister, mentioned the SME-GO programme would offer enhanced entry to financing, capability constructing, bettering infrastructure and regulatory reforms.
He mentioned, “It will consequently end result within the empowerment of SMEs to increase their operations, equip house owners and managers with the required abilities and data to thrive in a aggressive market and in addition assist their development by making a extra conducive atmosphere for his or her operations.”