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MSMEs in Ashanti not benefiting from
government’s interventions
Kumasi, June 20, Ghanadot/GNA –
Micro, Small and Medium Scale Enterprises (MSMEs) in Kumasi,
On Thursday said they are not benefiting from the numerous
Government financial interventions aimed at expanding
businesses.
They complained that, most of them were encountering
frustrations and impediments in accessing the facilities to
enable them expand and improve their business operations.
At an outreach road-show programme aimed at creating a
platform for the MSMEs to interact with financial service
providers in Kumasi on Thursday, the entrepreneurs said, the
government’s interventions were not yielding the desired
results.
The road-show, dubbed “customizing financial and
non-financial services for SMEs in Ghana”, was organised by
the Ministry of Trade, Industry, Private Sector Development
and President’s Special Initiatives as part of effort to
create awareness among entrepreneurs on the MSME project.
It is being implemented by Government with financial support
from the World Bank.
The 150 million-dollar MSME project, which began in 2006,
was basically to help among other things, reduce business
constraints faced by MSMEs, and build an integrated market
access.
The business operators mentioned the micro and small loan
scheme, export development and investment fund and noted
that most of them have not been able to access them.
They called on the government to develop clear cut policies
that would make it easier for SMEs to benefit from such
interventions.
Mrs Gifty Ohene-Konadu, Deputy Minister for Trade, Industry,
Private Sector Development and PSI, in-charge of SMEs, said
the interventions showed government’s resolve to create the
enabling environment for businesses to grow.
She said about 90 per cent of Ghanaian businesses were SMEs
and there was the need to create cost effective
interventions to reduce some of the constraints that
hindered their development and growth.
Mrs Ohene-Konadu said the MSME project was expected to
ginger growth in the sector, provide employment and build
capacities of financial service providers to assist SMEs.
Miss Marilou Uy, Director, Finance and Private Sector
Development of World Bank Africa Section, said the problem
of access to finance by SMEs was still a big issue in
Africa.
She, however, said with the introduction of modern
technology, most SMEs would be able to access credit
facilities to expand their businesses.
Mr Francis Osei Kusi, the Project Coordinator, said the
project was doing it best to address all the problems
associated with SME operations in a comprehensive and
sustainable manner.
GNA
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