Government Unveils SME Growth and Opportunity Programme in Ashanti Region
The Ministry of Finance and the Ministry of Trade and Industries have collaborated to organize a stakeholder engagement on the government’s flagship SME Growth and Opportunity (GO) programme in the Ashanti Region.
The event, held on Monday, September 2, 2024, brought together small and medium-scale business owners in the region.
Resource persons from the Ghana Enterprise Agency (GEA), the Ghana EXIM Bank, and other development partners took participants through the program and explained how they can access funding from the project.
Deputy Minister for Trade and Industries, Hon. Stephen Amoah, addressed the participants, stating that the program will mobilize GH¢8.2 billion to provide financial and technical support to the sector.
He emphasized that the initiative aims to strengthen the country’s private sector and propel the nation toward its annual growth potential of approximately 5 percent.
Hon. Amoah noted that SMEs form the backbone of Ghana’s economy, accounting for 92 percent of existing companies, 85 percent of manufacturing jobs, and 70 percent of GDP.
Recognizing their crucial role, the government has designed the SME GO programme to address sector challenges, particularly in accessing finance and enhancing capacity.
Philomina Djani, Director for Policy Planning Research, Monitoring and Evaluation at GEA, emphasized the program’s strategic importance, stating that it prioritizes targeted interventions to support government’s goal of creating ‘SME champions’ who can take Ghanaian products and innovations global.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng
