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.
A member of the National Democratic Congress (NDC), Dr. Sammy Ayeh has picked up nomination forms to contest for the position of Deputy National Communications Officer position.
Announcing his intention, Dr. Ayeh said he is offering himself to help communicate the party’s vision clearly and connect its message with the aspirations of Ghanaians.
He expressed deep gratitude to the party’s National Communications Officer, Lawyer Sammy Gyamfi, describing him as an able leader on whose shoulders he has risen.
“His exceptional leadership, mentorship and confidence in me have shaped my journey and strengthened my resolve to serve,” Dr. Ayeh stated.
He said if elected, he will seek to build on that foundation by strengthening research-driven communication, empowering grassroots communicators, and enhancing strategic media engagement.
Dr. Ayeh humbly appealed to party members and supporters for their support.
By Edem Mensah-Tsotorme
The Data Protection Commission has called on the Minority Caucus in Parliament, the Ministry of Foreign Affairs, JoyNews and other media houses to protect the personal information of 1,964 Ghanaians evacuated from South Africa.
In a press release issued on Tuesday, October 20, 2026, the Commission expressed concern over the public disclosure of the evacuees’ personal details, including their names, signatures and records of financial assistance received.
It warned that making such information public could expose the affected individuals to identity theft, fraud and other forms of harm, especially given the threats to their safety that some of them may have faced.
The Commission explained that the 1992 Constitution protects the dignity and privacy of every individual. It also cited the Data Protection Act, 2012 (Act 843), which sets out rules for the lawful collection, use and disclosure of personal information.
While acknowledging the importance of transparency, parliamentary oversight, the right to information and press freedom, the Commission stressed that these principles do not automatically justify the unrestricted publication of personal details.
It said the disclosure of the records by the Minority Caucus, the Ministry of Foreign Affairs, JoyNews and other media organisations must be assessed based on the law, the purpose of the disclosure and the privacy rights of the individuals involved.
The Commission further noted that although the Ministry of Foreign Affairs and Parliament are registered data controllers in good standing, their registration does not exempt them from their legal responsibilities under the Data Protection Act.
It has therefore urged all the parties involved to take appropriate steps to protect the affected individuals, including immediately restricting access to or removing personal details from publicly available records where their continued disclosure is not legally justified.
The Commission announced plans to conduct a regulatory review to determine whether the disclosures had a lawful basis, what safeguards were applied and whether the privacy rights of the evacuees had been adequately protected.
It said it would engage the relevant parties as part of the review and take appropriate regulatory action if any breach of the law is established.
The Commission reiterated that protecting personal information and respecting human dignity must remain central to efforts to promote public accountability.
By: Jacob Aggrey
