Mr. Kwasi Adu-Gyan, the Bono East Regional Minister, has called on micro, small, and medium enterprises (MSMEs) to seize the vast opportunities within the agricultural sector to drive rapid economic growth and development.
Speaking at the launch of the Annual Regional Network Conference for enterprise development, employment, and promotion in Techiman, Mr. Adu-Gyan emphasized the untapped potential within agriculture, urging MSMEs to explore and invest in various aspects of the sector, including commercial farming, processing, and marketing.
Agriculture has long been the backbone of Ghana’s economy, contributing significantly to the country’s GDP and providing employment to a large portion of the population. Despite its importance, the sector remains underexploited, particularly by MSMEs, which often focus on other industries like retail and services.
Mr. Adu-Gyan highlighted that agriculture offers immense opportunities for MSMEs to diversify their operations, increase profitability, and contribute to the broader economic agenda of the Bono East Region and Ghana as a whole.
“The agricultural sector has huge potential to spur economic growth, and it is crucial that MSMEs recognize and tap into these potentials within the agriculture value chain,” Mr. Adu-Gyan said. He noted that by investing in agriculture, MSMEs could play a pivotal role in ensuring food security, creating jobs, and driving sustainable economic growth.
The Role of MSMEs in Agriculture
The Bono East Regional Minister emphasized that MSMEs could significantly impact agriculture by engaging in commercial farming, agro-processing, and marketing. These activities not only add value to agricultural products but also enhance the overall productivity and efficiency of the sector.
For instance, MSMEs involved in processing can turn raw agricultural products into finished goods, thereby increasing their market value and generating higher income for farmers. Similarly, MSMEs engaged in marketing can help bridge the gap between producers and consumers, ensuring that agricultural products reach broader markets, both locally and internationally.
By capitalizing on these opportunities, MSMEs can position themselves as key players in the agricultural sector, driving innovation and creating a more resilient and sustainable economy.
The three-day conference, themed “Sustainable Solutions for MSMEs Growth and Employment: The Transformational Potential of Regional Union,” aimed to provide a platform for collaboration, knowledge-sharing, and networking among MSMEs and other stakeholders in the agricultural sector.
Organized by the German Development Cooperation (GIZ) in collaboration with the Bono East Regional Coordinating Council, the Labour Department, and AgriCO Hub, with funding from the European Union (EU), the event brought together various actors within the MSME ecosystem to discuss strategies for growth and development.
Mr. Adu-Gyan encouraged MSMEs to leverage such platforms to build and strengthen networks that can help address common challenges, including access to finance, high costs of capital, and limited market access. “Building strong networks and partnerships is essential for MSMEs to overcome challenges and achieve sustainable growth,” he said.
In his address, Mr. Adu-Gyan also highlighted the critical role of agriculture in addressing youth unemployment, a persistent issue in the Bono East Region and across Ghana. By investing in agriculture, MSMEs can create numerous job opportunities for young people, making them self-reliant and reducing the region’s unemployment rate.
GIZ’s Role in Supporting MSMEs
Mr. Adu-Gyan called on the GIZ and other development partners to support and implement programs that empower the youth and equip them with the necessary skills to thrive in the agricultural sector. Such initiatives, he noted, would not only help control youth unemployment but also contribute to the overall socio-economic development of the region.
Dr. Christian Jahn, Head of Programme Support for the Private and Financial Sector at GIZ, reiterated the importance of building networks and collaboration among MSMEs. He encouraged MSMEs to take advantage of government interventions and programs designed to support business growth, particularly in the agricultural sector.
“MSMEs must capitalize on government interventions and programs to build their businesses and overcome challenges such as access to finance and the high cost of capital,” Dr. Jahn advised. He emphasized that with the right support and resources, MSMEs could become powerful drivers of economic growth and development in the Bono East Region and beyond.
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