Minister of Finance, Dr Mohammed Amin Adam has emphasised the need for the collective responsibility of all stakeholders, to ensure the success of Small and Medium-sized Enterprises (SMEs) in Ghana.
He said SMEs are the lifeblood of the country’s economy and therefore the need to create an enabling environment for SMEs to thrive. Dr Adam said this in a speech read for him at a stakeholder sensitization on the SME Growth and Opportunity (SME Go) programme in Bolgatanga, in the Upper East Region.
He noted that Ghana’s growth model must evolve beyond heavy reliance on foreign direct investment and raw material exports, which could be volatile and expose the country to external shocks.
Dr. Amin Adam said through the SME GO, the Ministry would bind the public and private sectors together to create a better ecosystem for SMEs.
According to him, government supported the GEA and GEXIM with a total of 700 million cedis, while Development Bank Ghana committed about 1.2 billion cedis to support SMEs and the International Finance Corporation committed to support SMEs with 400 million dollars through financial institutions.
The Ministry has therefore consulted with stakeholders, to design selection criteria and financing instruments tailored to meet the needs of high-growth potential SMEs.
SOURCE: GNA
