Margaret Ansei
CHIEF EXECUTIVE Officer of the Ghana Enterprising Agency, Margaret Ansei, has pledged the agency’s willing to enhance Micro, Small and Medium Enterprises (MSME) businesses in the country through strategic investment.
Speaking at this year’s MSME day celebration under the theme, “Enhancing MSMES, Connecting Entrepreneurs for Digital and Sustainable Future” she stated that with the businesses contributing to 70 percent to national Gross Domestic Product (GDP) it will enroll it comprehensive strategies to give access to finance and targeted support for priority sectors to make small businesses in the country thrive.
The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, highlighted the significant challenges facing micro, small, and medium-sized enterprises (MSMEs) in Ghana.
She cited recent research on the digital transformation of micro-enterprises, which revealed that these businesses face notable obstacles including digital skills gap, underutilisation of digital tools among others.
However, the Minister noted that there is hope and opportunity indicating that many young entrepreneurs have adopted creative strategies, using WhatsApp, and Instagram to reach customers and keep their businesses alive. This innovation, she said, demonstrates the potential within the MSMEs community.
Elizabeth Ofosu-Adjare, outlined the government’s plan to support micro, small, and medium-sized enterprises in the country, she stated that the government’s goal is to integrate MSMEs into local, regional, and global value chains, ensuring that no entrepreneur is left behind.
To achieve this, she said the government will streamline business registration and certification processes through the Business Regulatory Reform (BRR) unit, a one-stop shop for all businesses. The sector minister said the BRR unit will be equipped with a legal mandate to support MSMEs in navigating regulatory requirements.
She further stated that the government is encourage financial institutions and fintechs to create products tailored to the unique needs of small enterprises.
The Minister emphasised that the government is taking decisive action on multiple fronts to address the financial gap and support MSMEs to thrive.
BY Prince Fiifi Yorke