The Ministry of Finance, in collaboration with key partners, organized a forum to raise awareness among Small and Medium Enterprises (SMEs) in the Northern Region about the Growth and Opportunity (SME-GO) programme. This initiative aims to enhance SME operations and growth. The forum, held in Tamale, attracted SME owners and managers from sectors such as agriculture, fashion, design, and services, who sought to understand the benefits and opportunities provided by SME-GO.
The SME-GO programme, a collaborative effort between the Ministries of Finance and Trade and Industry, along with partners like the Ghana Enterprises Agency, Development Bank Ghana, and Ghana EXIM Bank, is designed to offer financial and technical support to SMEs. The goal is to leverage SMEs’ potential to drive economic growth, create jobs, and foster innovation.
In a speech delivered on behalf of the Finance Minister, Dr. Mohammed Amin Adam, he emphasized the critical role SMEs play in achieving Ghana’s development goals. He highlighted that SMEs contribute significantly to the country’s GDP and drive innovation and competitiveness. However, many face challenges such as limited access to capital, inadequate infrastructure, and regulatory hurdles.
The SME-GO programme was launched to tackle these issues, providing a comprehensive framework for SME development and support. Dr. Adam underscored the importance of offering SMEs access to financial resources, expertise, and capacity-building programs to empower them to innovate, create jobs, and stimulate economic growth.
The programme aims to establish a platform for SMEs to become champions of change, driving impact across communities while leaving a lasting legacy of empowerment, innovation, and prosperity for future generations.
Deputy Minister for Trade and Industry, Mr. Kofi Ahenkorah Marfo, revealed that the government would support the Ghana Enterprises Agency with GH¢200 million, providing SMEs with small grants and loans at highly subsidized rates. He also announced that the Ghana EXIM Bank would receive GH¢500 million to offer financial support to SMEs, while Development Bank Ghana would commit GH¢1.2 billion through participating financial institutions.
Mr. Marfo encouraged SMEs to take full advantage of the SME-GO programme, which aims to create a dynamic ecosystem for economic transformation.
Northern Regional Minister, Alhaji Shani Alhassan Saibu, further elaborated on the programme’s benefits, including enhanced access to financing, capacity building, infrastructure improvements, and regulatory reforms. He emphasized that the SME-GO programme would empower SMEs to expand their operations, equip business owners with vital skills and knowledge, and create a more conducive environment for SME growth and success in a competitive market.
