MINISTER OF FINANCE PARTICIPATES IN GEIM TUESDAY MARKET

The Minister of Finance, Dr. Mohammed Amin Adam on Wednesday, 15th May 2024 participated a special edition of the Small and Medium-sized Enterprise (SME) fair by the Ghana Export-Import Bank (GEXIM) dubbed GEXIM Tuesday Market at the forecourt of the Bank’s head office located at the Africa Trade House, in Accra.

Dr. Amin Adam interacted with the SMEs at the fair and disclosed the government’s plan to address the financial challenges hindering the growth and expansion of Small and Medium-sized Enterprises (SMEs) in the country. He later engaged the members of the press during which he recognized the importance of SMEs as engines of economic growth and job creation, and further stated the need for the government to provide SMEs with the necessary support to thrive.

“Access to finance is a critical barrier that many SMEs in Ghana face and one of the key pillars of the Ministry’s plan is the establishment of specialized funding programmes tailored to the needs of SMEs. These programmes will offer flexible financing options to enable businesses to procure the logistics and equipment necessary for scaling up their operations”, he revealed.

He added that “we are committed to providing SMEs with the financial resources they need to realize their full potential. Through targeted funding initiatives, we aim to empower entrepreneurs and facilitate the expansion of their businesses both domestically and internationally.”

The Finance Minister also emphasized the importance of collaboration between the government and the private sector in driving economic growth and encouraged the formation of public-private partnerships (PPPs) in mobilizing additional resources and expertise to support SME development.

“Innovation and collaboration are key to unlocking the growth potential of SMEs. By working together with the private sector, we can leverage our collective strengths to create a conducive environment for business growth and investment”, he stressed.

In addition to financial support, the Minister underscored the significance of capacity-building initiatives to equip SMEs with the skills and knowledge needed to succeed in today’s competitive market landscape.