'We are committed to supporting SMEs grow' – Finance Minister

The Finance Minister, Dr. Mohammed Amin Adam, has reaffirmed the government's commitment to supporting the growth of Small and Medium Scale Enterprises (SMEs) in the country.

One prominent measure in this support is ensuring that owners can secure loans through the Ghana Export-Import Bank (Ghana EXIMBANK).

This commitment was disclosed during the Special Wednesday Edition of the regular Tuesday Market in Accra, hosted by the Ghana EXIMBANK, where various SMEs showcased products made in Ghana.

During a press conference, the finance minister outlined the government's strategy to introduce training programs aimed at enhancing the capacity of small and medium-sized enterprises (SMEs) to repay loans from different banks.

These programs will focus on skills such as business plan preparation and book-keeping, among others, to empower SMEs and enhance their financial stability.

"We are going to provide further support to SMEs through Ghana EXIM Bank and the Ghana Enterprises Agency, offering more funding for lending to SMEs

"Additionally, some commercial banks are joining this initiative, not just to provide loans, but also to mitigate the risks associated with lending to SMEs. Therefore, it is imperative for us to address these risks," Dr. Amin Adam said.

The minister further added, "That is why my ministry will launch an extensive training program for SMEs across the country in the areas of business plan preparation, bookkeeping, and basic banking systems. This will enable them to effectively manage the funds they receive and repay them to the banks and institutions that provided the funds."

EAN/MA