A Deputy Chief Executive Officer (CEO) of the Ghana Export Promotion Authority (GEPA), Samuel Dentu, has urged financial institutions to extend flexible credit services to Small and Medium Enterprises (SMEs).
This, according to him, will ensure the industrial transformation the Akufo-Addo government has been advocating for.
He added that GEPA, through the government, is ready to provide necessary institutional support for a sustainable SME industry.
Mr Dentu made this statement while addressing participants at the SMEs and Banks Forum held on Wednesday at the Capital View Hotel in Koforidua, the Eastern Regional capital.
The forum’s theme was “Financial resources mobilization: A key factor in SME growth.”
About 100 SME owners attended to gain knowledge on financial resource mobilization and discuss growing the SME community. Resource persons from Ghana Commercial Bank, Agricultural Development Bank, Access Bank, and Fidelity Bank lectured participants on key financial topics.
According to Mr. Dentu, GEPA has a long-standing reputation for engaging and assisting SMEs nationwide, deploying practical measures and solutions.
GEPA will continue providing interventions and support, including input support and refurbishment of art and craft villages.
The government, through GEPA, will establish export trade houses globally, with one already in Kenya, to enable Ghanaian SMEs to compete globally. An export school will also be established to teach exporting in a digital world and free market space.
The Eastern Regional Minister, Seth Acheampong on his side appealed for more forums to educate the masses, as SMEs are the backbone of the country’s economy.
SMEs, which drive the economy, face challenges.
Mr Acheampong urged financial institutions to partner with SMEs, scaling up operations to expand their market presence.
“SMEs are our roadmap to sustainable growth. We need a conducive environment for sustainability.
Government cannot do it alone; financial institutions must step in and strengthen partnerships for accessibility,” the Minister added.
BY Daniel Bampoe