STAKEHOLDERS SENSITIZATION ON THE SMEs GROWTH AND OPPORTUNITY PROGRAM

Small and Medium Enterprises (SMEs) are being urged to take advantage of the government’s “SME GO” program to enhance their operations and productivity.

The stakeholder sensitization event held at the Eastern Premier Hotel in Koforidua on August 26, 2024, aimed to support emerging businesses through financial assistance and technical back-stopping to promote their growth.
The technical advisor to the Finance Minister, Dr. Abudu Abdul-Ganiyu, emphasized government’s commitment to providing financial resources and human resource development to empower SMEs. He highlighted the program’s role in fostering innovation, creating jobs, and accelerating economic growth.

Dr. Abdul-Ganiyu also mentioned that, the Ministry of Finance is in collaboration with the Ministry of Trade and Industry, Ghana Enterprises Agency, Ghana Export-Import (GEXIM) Bank, and the Development Bank, to address business challenges, particularly those related to SMEs’ financing and capacity enhancement. The program was designed to offer these businesses with financial access, capacity-building, regulatory assistance, market entry and market linkages, he reiterated.

The Deputy Minister of Trade, Hon. Kofi Ahenkorah Marfo, emphasized that the Growth and Opportunity program focuses on targeted interventions to support the government’s goal of nurturing SME champions. He encouraged local entrepreneurs to view the program as a leverage to grow their businesses, stressing on the vital role of SMEs to the Ghanaian economy. He added that local SMEs contributes approximately, seventy percent (70%) of the nation’s Gross Domestic Product (GDP).

The Eastern Regional Minister, Hon. Seth Kwame Acheampong highlighted the initiative’s goal of fostering SME growth in the country, and called for collective efforts to expand the program’s impact. Thus, he recommended some communication strategies to enhance the impact of the program, including, program branding, website development, social media presence, stakeholder engagements, media outreaches, events, testimonials, partnerships, and regular updates through newsletters.

The Chief Enterprise Business Officer of MTN, Ghana, Ms. Angela Mensah Poku, reaffirmed their commitment to support SMEs in the digital age. She added that MTN provides training on how its products and services can boost SMEs’ productivity and inventory management. Ms, Poku gave an assurance that MTN would continue its support through capacity-building workshops focused on bookkeeping, digital marketing, and online strategies.

The event was attended by SME operators, departmental heads, and key opinion leaders.