President Nana Addo Dankwa Akufo-Addo has announced a government support package of GHS7 million for the Ghana Exim Bank to provide highly subsidized financial aid to SMEs.
Speaking at the SME Growth and Opportunity Programme held at the Kempinski Hotel, Akufo-Addo emphasized the government’s commitment to fostering SME growth through coordinated efforts between the Ministries of Finance and Trade and Industry and partnering agencies.
“Ghana Exim Bank will be supported with some GHS700 million to offer SMEs highly subsidized financial support for both capital and operating expenditures and offer capacity building to program beneficiaries” the president said.
The event, organized on July 16, 2024, emphasized the importance of targeted financial and technical support to high-growth potential SMEs.
The summit, themed “Breaking Barriers to SME Growth,” brought together 150 participants from various sectors, including the private sector, academia, regulatory institutions, media, industry, and financial service providers.
Key speakers included Minister for Finance, Dr. Mohammed Amin Adam, who highlighted the summit’s goals of enhancing partnerships and mobilizing diverse financial resources for SME growth.
The event acording to the Ministry of finance summit sought to enhance partnerships, mobilize diverse financial resources for SMEs growth and expansion, and provide a platform for public and private sector actors to advocate inclusive policies and strategies required to foster SME growth in Ghana.
The event also featured exhibitions of SME products, with contributions from agencies such as the Ghana Enterprises Agency (GEA), Ghana Exim Bank, Development Bank Ghana (DBG), and the International Finance Corporation (IFC).
