In a bid to bolster the development of Small and Medium Enterprises (SMEs) in Ghana, the government, through the Ministries of Finance and Trade and Industry, alongside several partnering agencies, is set to launch the SME Growth and Opportunity Programme.
The highly anticipated programme will be inaugurated at a summit scheduled for Tuesday, July 16, 2024. This initiative is a cornerstone of the government’s strategy to stimulate economic growth and enhance the entrepreneurial ecosystem within the country.
“The Summit under the theme ‘Breaking Barriers to SME Growth’ will bring together about 150 participants from diverse sectors.
“These include representatives from the private sector, academia, business regulatory and compliance institutions, media, industry, multilateral and bilateral partners, as well as financial service providers.”
Ministries of Finance
This eclectic mix of stakeholders is expected to foster robust discussions and collaborations geared towards the advancement of SMEs in Ghana.
The SME Growth and Opportunity Programme emphasizes the importance of coordination among partnering agencies to ensure the effective delivery of both financial and technical support to SMEs with high growth potential. By harmonizing efforts, the programme aims to address the multifaceted challenges faced by SMEs and create an enabling environment for their sustainable development.
The highlight of the summit will be the official launch of the SME Growth and Opportunity Programme by the President of the Republic of Ghana, H.E Nana Addo Dankwa Akufo-Addo.
The President’s address will underscore the government’s commitment to nurturing the SME sector as a pivotal component of the national economy. His Excellency will also outline the strategic vision and objectives of the programme.
Other key speakers include Minister for Finance, Dr Mohammed Amin Adam, Minister for Trade and Industries, Hon K.T Hammond, Governor of the Central Bank of Ghana, Dr Ernest Addison, and President of the African Development Bank Group, Dr Akinwumi Adesina.
Exhibition and Networking Opportunities
In addition to the discussions and presentations, the event will also feature an exhibition of SME products. This exhibition will provide SMEs with a platform to showcase their innovative products and services, enabling them to attract potential investors and partners.
It will also highlight the diverse range of goods and services produced by Ghanaian SMEs, demonstrating their significant contribution to the economy.
“The summit aims to enhance partnerships, mobilise diverse financial resources for SMEs growth and expansion and provide a platform for public and private sector actors to advocate inclusive policies and strategies required to foster SME growth in Ghana.”
Dr Mohammed Amin Adam, Minister for Finance
The successful implementation of the SME Growth and Opportunity Programme will be driven by a collaborative effort involving key partnering agencies. These include the Ghana Enterprises Agency (GEA), the Ghana EXIM Bank, the Development Bank Ghana (DBG), and the International Finance Corporation (IFC).
Each of these agencies brings a wealth of experience and resources to the table, ensuring a comprehensive and effective support system for SMEs.
The SME Growth and Opportunity Programme is designed to address the critical barriers that hinder the growth of SMEs. By providing coordinated financial and technical support, the programme seeks to enhance the competitiveness of SMEs, promote innovation, and foster an inclusive business environment.
This initiative is expected to significantly contribute to job creation, poverty reduction, and overall economic growth in Ghana.
As the government and its partners come together to break barriers and create opportunities for SMEs, the future of entrepreneurship in Ghana looks promising. The SME Growth and Opportunity Programme is poised to be a catalyst for economic transformation, driving growth and prosperity for years to come.
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