Government to rollout nationwide training for SMEs to enhance capacity – Dr. Amin Adam

The Minister for Finance, Dr. Mohammed Amin Adam, has emphasized the government's commitment to mitigating the risk associated with banks lending financial support to Small and Medium Enterprises (SMEs), through a nationwide training program in basic accounting practices for SMEs.

He noted that the training will help improve the creditworthiness of SMEs, enabling them to gain financial support, such as loans from banks, to expand their businesses.

At a media briefing in Accra, the sector minister highlighted the pivotal role of Small and Medium Enterprises, particularly in the realm of employment.

He stated that SMEs account for approximately 80 percent of employment in the country, which led to the introduction of the SME Growth and Opportunity Program.

In his closing remarks, the Finance Minister urged a collaborative effort from everyone to restore macroeconomic stability and debt sustainability while protecting the poor and vulnerable in society.

He outlined some projections for the medium term, expressing the ministry's anticipation of increasing growth from the "current 2.9 percent to 5 percent, reducing inflation from the current 25 percent to 8 percent or less by 2025, and fully restoring debt sustainability by 2028, all the while continuing to improve the gross international reserves."