Govt committed to supporting SMEs grow – Amin Adam

The Finance Minister, Mohammed Amin Adam, has announced the government’s commitment to support small and medium scale enterprises (SMEs) in the country.

This will be achieved through the Ghana Export – Import Bank (Ghana EXIMBANK), which will provide loans to SMEs to help them expand their operations.

This commitment was revealed during the Special Wednesday Edition of the regular Tuesday Market in Accra. This event, hosted by the Ghana EXIMBANK, saw a variety of SMEs showcasing products made in Ghana.

Addressing journalists, the Finance Minister highlighted the government’s plan to launch training programmes focused on business plan preparation, bookkeeping, and other areas to enhance SMEs’ ability to repay loans to various banks.

“We are going to give further support to SMEs. Through Ghana EXIM Bank, Ghana Enterprises Agency, we are going to provide more funding for them to lend to SMEs. And I also need to announce that some of the banks, commercial banks are coming on board this initiative and they are not just coming on board to lend money, but we also know that they have cited the risk of recovery of funds which they will lend to SMEs and therefore there is need for us to address that.”

He further added, “That is why my ministry will launch a massive training programme for SMEs across the country in the area of business plan preparation, bookkeeping and basic systems in banking so that they can manage the money well when they are given the money and they can pay back, repay to the banks and the institutions that will make the money available to them.”

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