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Government injects GH¢520 million into MSMEs

Kosi Yankey Ayeh1212121212 Chief Executive of Ghana Enterprises Agency, Kosi Yankey Ayeh

Fri, 1 Jul 2022 Source: www.ghanaweb.com

MSMEs contribute over 75% of Ghana’s GDP, Kosi Yankey

GEA signs MoU with Rural Enterprises Programme

MSMEs investment to scale the sector up, Kosi Yankey

Chief Executive of Ghana Enterprises Agency, Kosi Yankey Ayeh, has noted that in the last three years, an amount of GH¢520 million has been pumped into the Micro, Small and Medium-scale Enterprises (MSMEs) sector.

This investment, she said, was done by the Ministry of Trade and Industry to help these MSMEs scale up their operations to employ more youth into the sector.

Speaking at the launch of 67 Business Resource Centres in Accra, Kosi Yankey Ayeh indicated that MSMEs also contribute over 75% of Ghana’s GDP, hence, the enrollment of several initiatives to support them.

“MSMEs, I believe you will agree with me that, the sector is the backbone of the Ghanaian economy. Of the estimated 2.1 million businesses in Ghana, about 1.7 million can be classified as micro-enterprises. These businesses employ roughly 2.5 million people or 30%, implying an average of one to two jobs created by micro-enterprises,” she said.

“MSMEs also contribute over 75% of Ghana’s GDP. This year through the effort of the Minister of Trade and Industry, over GH¢520 million have been injected into the MSMEs sector with the introduction of many initiatives to support their operations and scale them up,” the Ghana Enterprises Agency CEO stated.

A Memorandum of Understanding (MOU) was also signed between GEA as the franchisor and Rural Enterprises Programme (REP), the franchisee to regularize the operations of the resource centres.

"The BRCs are a one-stop enterprise support centre at the district level designed to provide a broad range of Business Development Services (BDS) to potential and existing entrepreneurs and enterprises," Joy Business reported.

ESA/FNOQ

Source: www.ghanaweb.com
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