The Ghana Export Promotion Authority (GEPA) hosted the SMEs and Banks Forum on Wednesday, July 24th, 2024, at the Capital View Hotel in Koforidua. Under the theme “Financial Resources Mobilization: A Key Factor in SME Growth,” the event brought together industry stakeholders to discuss critical issues facing Small and Medium Enterprises (SMEs) in Ghana.
In his address, Mr. Samuel Dentu, Deputy Chief Executive Officer of GEPA, called on financial institutions to provide more flexible credit services to SMEs. He emphasized that such support is vital for the success of the government’s industrial transformation programs. Mr. Dentu assured participants that GEPA, in collaboration with the government, is committed to offering the necessary institutional support to create a sustainable environment for SMEs.
Mr. Dentu highlighted GEPA’s strong track record in engaging and supporting SMEs across the country, providing them with practical strategies and solutions. He announced that GEPA would continue to offer targeted interventions, including support for essential inputs and the refurbishment of Art and Craft villages. Additionally, he revealed that the government, through GEPA, is working to establish Global Export Trade Houses, with one already established in Kenya, to help Ghanaian SMEs compete on the international stage. He also mentioned plans to create an Export School to educate SMEs on exports in the digital age and within open market spaces.
Hon. Seth Kwame Acheampong, the Eastern Regional Minister, also addressed the forum, underscoring the importance of regular engagements to educate the public on SME development. He reiterated that SMEs are crucial to the growth of the economy and called for stronger collaboration between financial institutions and SMEs. Hon. Acheampong stressed that financial institutions must play a key role in strengthening partnerships and improving accessibility to credit, which is essential for the sustainable growth of SMEs.
The forum provided SME practitioners with valuable insights into financial resource mobilization and strategies for expanding the SME community. Experts from Ghana Commercial Bank, Fidelity Bank, Access Bank, and Agricultural Development Bank shared their knowledge on relevant financial topics, offering practical advice to the attendees.