Business
A golden moment for Ghanaian SMEs Deputy GEXIM CEO
The Government of Ghana through the Ministry of Finance on Tuesday July. 16, 2024, launched a ground breaking initiative which sought to assist Ghanaian Small and Medium-sized Enterprises to scale up and build their capacity to make them sustainable and compete favourably in the international marketplace.
It is dubbed the Small and Medium-sized Enterprise (SME) Growth & Opportunity Programme or SME GO Programme.
The event was launched by the President of the Republic of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo at the Kempinski Hotel Gold Coast City Accra and attended by all key and relevant stakeholders in the SME, Banking and Finance sectors.
On the sidelines of the event, the Deputy Chief Executive Officer of the Ghana Export – Import Bank, Ms. Rosemary Beryl Archer described the SME GO Programme, as a “Golden Moment” for Ghanaian SMEs and affiliated sectors.
Available data by the Ministry of Finance indicate that Ghanaian SMEs account for 92 percent of existing companies, 85 percent of manufacturing jobs and 70 percent of Gross Domestic Product (GDP).
Knowing its strategic importance to economic development, the Government is focused on developing a sustainable financing framework that allows for both public and private sectors to scale up financial and technical support towards Ghanaian SMEs.
In recent times, the world has experienced challenges and businesses were not spared. Unfortunately, SMEs are the hardest hit, with Ghanaian SMEs not an exception.
Government is determined to address these challenges, particularly access to financing, which have become inimical to advancing broad-based SME development.
Through the SME GO Programme, the Ministry of Finance aims to support the delivery of a robust SME financing programme that brings Ghana closer to its growth potential of approximately 5%.
The SME GO Programme offers targeted financial and technical support to high-growth potential SMEs to accelerate their growth by various interventions through short and medium term support through, including technical training and handholding support for beneficiaries, and optimizing public policies.
The financial support package, with flexible financing options, is to enable businesses to obtain the necessary resources to scale their operations effectively.
Three state agencies have been selected as strategic partners for the implementation of the programme which is to help the Government to create a lasting initiative and also develop a permanent infrastructure to support SMEs and ensure a sustainable impact on the ecosystem. They are the Ghana Export – Import Bank (GEXIM), Ghana Enterprises Agency (GEA) and the Development Bank of Ghana (DBG).
The Ghana Enterprises Agency is to work closely with SMEs to assess their financing and capacity building requirements and provide targeted support. Leveraging its expertise and network, the Ghana Export – Import Bank will facilitate access to financial and technical services to meet the diverse needs of export ready SMEs.
The Development Bank of Ghana is collaborating with the International Finance Corporation of the World Bank to work with participating financial institutions (PFIs) to launch a SME catalytic fund that will deliver larger multiples of finance required for SMEs to continue to scale their operations.
Technical assistance in the form of training and support is a key part of the SME GO Programme with the Ghana Export – Import Bank championing a collaboration with other agencies and stakeholders to set up an ultramodern Food Processing Pilot Plant in Accra, Ghana.
This will help enterprises with manufacturing solutions by testing their production and scaling up ideas in a standardized food processing pilot plant.
The financial and technical support to be provided to SMEs through the dedicated funds created by each institution under the SME GO Programme is the first step towards strengthening the SME ecosystem with the introduction of transformative measures.
In addition, regulatory and operational initiatives are being prepared to be enacted later when the immediate support required has been provided. The envisaged measures range from the creation of a one-stop-shop for SMEs to the design of business enclaves providing SMEs with fiscal incentives, financial resources and shared technology.
Ms. Archer concluded that it was her wish for Ghanaian SMEs across various sectors to prioritise value addition. A systematic approach to value chain development will result in the elimination of underlying causes of market underperformance, which is definitely going to be a game-changer.
“We now need to take a look at how our businesses can bring a product from the initial idea to its final market.Why should we strengthen the value chain across sectors? This definitely holds the key to increasing profits and productivity for SMEs, and making them sustainable by withstanding disruptions at all times. Ultimately, this will also lead to an increased contribution to socio-economic development of Ghanaian SMEs,” he added.
The Accra Metropolitan Assembly (AMA) has announced plans to step up enforcement and monitoring activities as part of the second edition of the National Sanitation Day, which will take place on Saturday, November 1, 2025, across the Accra metropolis.
According to the Assembly, the exercise aims to promote cleanliness, improve sanitation, and ensure full public participation in the national campaign to make Accra cleaner and healthier.
To achieve this, the AMA will deploy 21 Public Health Officers, 200 members of the AMA Sanitation Taskforce, and 81 labourers, including sweepers and janitors, across all sub-metropolitan areas.
The operation will also be supported by heavy-duty equipment such as compactor trucks, backhoe loaders, excavators, tipper trucks, and pay loaders to help desilt drains, clear refuse, and transport waste.
The AMA stated that, in line with the President’s directive and the Accra Metropolitan Assembly (Communal Labour) Bye-Laws, 2017, all shops, markets, and business premises are to remain closed from 6:00 a.m. until the exercise is completed to allow for full public participation.
The clean-up activities will focus on desilting drains, sweeping streets, brushing road kerbs, and removing unauthorized banners.
Key areas expected to see intensified work include the Ashiedu Keteke Sub-Metro, which covers John Evans Atta Mills High Street, Asafoatse Nettey Road, and Agbogbloshie; the Ablekuma South Sub-Metro, which will focus on Chorkor (from Galilee to Lante Maami through Chemuenaa) and the Guggisberg Road to Korle Bu stretch; and the Okaikoi South Sub-Metro, which will include the Kwame Nkrumah Interchange and the Police Depot area (from Alajo Junction to Abeka Junction).
The AMA reminded the public that anyone who fails to comply with the sanitation directive or refuses to participate in the communal labour commits an offence.
Offenders may face a fine of up to 100 penalty units, imprisonment of between 30 and 180 days, or both. Continuing offenders will face additional daily penalties.
The Assembly is therefore, urging all residents, traders, transport operators, and businesses to actively take part in the clean-up exercise, stressing that maintaining a clean city is a shared responsibility.
It added that the goal of the exercise is to make Accra a cleaner, safer, and more sustainable city for everyone.
By: Jacob Aggrey
Minister of Finance, Dr. Cassiel Ato Forson, has described the Ghana cedi as a proud symbol of the country’s identity and sovereignty as the nation marks 60 years since the currency was first introduced.
Speaking at the Cedi@60 celebration held today, October 28, 2025, at the Accra International Conference Centre, Dr. Forson noted that the currency represents more than just a means of exchange.
He mentioned that it is part of Ghana’s national pride and economic journey.
“It is my distinct honor to join you today as we mark 60 years of the Ghana cedi. The Ghana cedi represents the pride of our nation and our heritage,” he stated.
Dr. Forson explained that since its introduction in 1965, the cedi has played a vital role in trade and daily transactions, connecting people and supporting economic activity.
“For 60 years, through inflation, devaluation, re-denomination, and recovery, the cedi has remained resilient. It continues to stand as a symbol of our national sovereignty and remains the only legal tender of our republic,” he stressed.
He highlighted the endurance of the cedi through Ghana’s economic challenges and political transitions, noting that its continued existence reflects the resilience and determination of the Ghanaian people.
The event, themed “Cedi@60 – Our Money, Our Pride,” marks six decades since the introduction of the Ghana cedi, which replaced the British pound during the First Republic under President Dr. Kwame Nkrumah.
By: Jacob Aggrey
