Business News Wed, 3 Mar 2004

Assist small-scale industries- deputy Minister

Accra, March 3, GNA - Hajia Alima Mahama, Deputy Minister of Trade, Industry and President's Special Initiative on Wednesday appealed to financial institutions to appreciate the role Small and Medium Scale Enterprises (SMEs) play in the economy and assist them with needed credit facilities.

She said the SMEs have the potential of rising to become giants industries and enterprises that could catapult the economy into a higher trajectory but would depend to a large extent on the willingness and level of financial support from the banks.

Addressing exhibitors and members of the National Board for Small Scale Industries (NBSSI) at the on-going 9th Ghana International Trade Fair, the Deputy Minister said government would not relent in the efforts in ensuring that the required environment was created for SMEs to thrive.


She said the Ministry with the collaboration of the NBSSI had sponsored 50 SMEs this year to participate in the fair adding, "This is in furtherance of government's quest for golden of age of business." Hajia Mahama said government was working a special package for SMEs in handicrafts in terms of financial assistance, market accessibility and technical and business advice to enable them enter the international export market.

She urged the NBSSI to extend their activities to new areas with the establishment of the Business Advisory Centres (BAC). Nana Dr. Baah Boakye, Executive Director, NBSSI said currently 66 BACs have been set up in the districts and said this year 17 more districts would be considered.

He appealed for more funds from government to enable participate in overseas trade and exhibition fairs.

Source: GNA