Business News of 2014-05-17

Government builds SME's capacity for efficiency

The government has launched a three-year pilot project to build the capacity of Small and Medium Scale Enterprises (SME) in the Ashanti Region for efficient performance.

The project is being implemented by the National Board for Small Scale Industries (NBSSI) with financial support from the Japanese government and involves training and improving the technical, financial and customer service skills of business operators.

Mr. Haruna Iddrisu, Trade and Industry Minister, announced this in a speech read on his behalf at the opening of the first Ashanti business and investment fair in Kumasi.

He urged the SMEs to take advantage of the project to strengthen and improve their operations.

Business and Financial Times (B&FT) is holding the four-day fair with BIA Conferences under the theme “promoting trade and investment through effective business networking.”

It has brought together businesses in the region on a common platform to interact, network and share ideas to achieve growth.

Mr. Iddrisu said his Ministry was also in the process of developing serviced industrial zones nationwide to provide ambiance for businesses to thrive.

He reiterated their determination to create the right investment climate to sustain business growth and development.

Mr Samuel Sarpong, Ashanti Regional Minister, noted that, despite its strong history of entrepreneurship, the region was not attracting business investments as expected.

He, therefore, welcomed the organization of such fairs to brainstorm on how to make Ashanti a preferred destination for both local and foreign investors.

Mr Sarpong said the Kumasi Metropolitan Assembly (KMA), through its Kumasi City Project, was working with the Earth Institute, under the Millennium Cities Initiative, to implement a number of activities to create a more business-friendly environment.

These include publication of an updated investors’ guide for Kumasi, setting up of the Kumasi City Investment Promotion Unit at the KMA, establishment of an investment technical committee and the development of a dedicated website for the promotion of investment opportunities in and around the city.

Mr. Sarpong said Kumasi was positioning itself well and providing a congenial atmosphere for entrepreneurs to plan and act purposefully.

Mrs. Edith Dankwa, Chief Executive Officer of B&FT, said the fair would help unearth investment opportunities, which abounds in the region, but had largely not been explored.