Ministry of Finance sensitizes business owners on SME – GO Programme

The Minister of Finance and Member of Parliament for Karaga, Dr. Mohammed Amin Adam says government recognizes the role of small and medium enterprises in partnering government to create jobs and offer meaningful livelihood opportunities to Ghanaians.

According to the minister, the government has extended some support to the private sector and it is committed to rolling out more measures to ease operational burden and strengthen the capacity of small and medium enterprises across the country, to be able to create more job opportunities and serve citizens better.

The finance minister in a speech, mentioned the Small and Medium Enterprise Growth and Opportunity (SME – GO) Programme among government’s support to the private sector. The SME – GO offers targeted financial and technical support to SMEs with high-growth potentials to accelerate their growth.

The minister’s speech was read by Benjamin Torsah-Klu, Chief Economic Officer at the Ministry of Finance, at a stakeholders’ sensitization forum in Bolgatanga in the Upper East Region, to throw more light on the SME Growth and Opportunity (SME-GO) programme.

He urged businesses operating in the Upper East Region to actively engage in the SME-GO programme to increase their capacity and enhance their competitiveness and profitability.

The Ministry of Finance and Economic Planning and the Ministry of Trade and Industry, with their implementing partners, Ghana Enterprises Agency (GEA), Development Bank Ghana (DBG) and the Ghana Exim Bank, organized the stakeholders sensitization forum for owners and managers of Small and Medium Enterprises in the Upper East Region. The event was to throw light on government’s new business support model; the Small and Medium Enterprises Grow and Opportunity (SME-GO).

“… we have gathered here as champions of a shared vision: to create an enabling environment for our small and medium-sized enterprises (SMEs) to thrive. Our SMEs are the life blood of our economy, and it is our collective responsibility to ensure their success.

The data is clear; supporting SMEs is crucial to achieving our growth and development ambitions. We must be intentional about providing access to financial resources, expertise, and capacity building programs that empower them to drive innovation, create jobs, and stimulate economic growth.

Ghana’s growth model must evolve beyond relying heavily on Foreign Direct Investment and raw material exports, which can be volatile and expose us to external shocks. Instead, we must harness the potentials of our homegrown SMEs to build a prosperous, dynamic, and competitive economy.” The minister noted.

A representative of the Ghana Enterprise Agency, (which serves as a technical advisory partner for the SME-GO programme), Isaac Nimako encouraged owners and managers of beneficiary businesses to use the financial support extended to them responsibly, to be able to expand and create more job opportunities.

“If you go strictly by what you intend to use the business fund for and implement the right technical guidelines, then we can be sure that your business will succeed and the expansion and improvement will follow.” Mr. Nimako noted.

The sensitization forum was attended by small and medium business owners and managers, artisanal workers, farmers, representatives from some District Assemblies and the Upper East Regional Coordinating Director.

From Ebo Bruce-Quansah, Bolgatanga