Small businesses urged to utilize Fund

Mr. Eric Amoako-Agyare, Deputy Team Leader of the Business Development Services Fund (BDSF) Project, on Wednesday called on macro, small and medium enterprises (MSMEs), particularly those in the regions, to utilize the fund to improve their operations.

He made the call when addressing a meeting of the Sekondi-Takoradi Chamber of Commerce and Industry about the benefits of the fund at Takoradi.

Mr. Amoako-Agyare said $3million is available for the second phase of the BDSF Project which took off in July 2011 and would end in October.

He said 40 per cent of the fund has been accessed by businesses engaged in shea butter, fruits and vegetable sectors and that the BDSF is focused on MSMEs throughout the country with emphasis on value chains such as cosmetics, fish, fruit, plastics, salt, palm oil and other value addition activities.

Mr. Amoako-Agyare said the BDSP Project is a component of the MSME project established in 2007 with support from the World Bank, to enhance the competitiveness and employment levels of Ghanaian MSMEs through financing and technical assistance.

He said out of the amount available, $1.3 million is earmarked for renewable energy sub-projects, under the Ghana Energy Development and Access Project (GEDAP).**