News
GEXIM supports SMEs through capacity building programme
- /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://spectator.com.gh/wp-content/uploads/2024/09/PHOTO-2024-09-27-13-18-40-1000x600.jpg&description=GEXIM supports SMEs through capacity building programme', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://spectator.com.gh/wp-content/uploads/2024/09/PHOTO-2024-09-27-13-18-40-1000x600.jpg&description=GEXIM supports SMEs through capacity building programme', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Ghana EXIM Bank (GEXIM), has announced a support package for Small and Medium Enterprises(SMEs) through its capacity programme.
This falls under the SME Growth and Opportunity programme launched by the Ministry of Finance which offers a comprehensive package of financial and technical support, including capacity-building sessions, to address the critical funding constraints faced by SMEs.
Speaking at the Ghana EXIM Bank Stakeholder Session with SMEs on Thursday September 26, at the Trade Fair House in Accra, Rosemary Beryl Archer, Deputy Chief Executive Officer of Ghana Exim Bank, said, the government’s 10 points industrialization agenda has SME development at heart.
She said, on Tuesday July 16, 2024, the President of the Republic, His Excellency Nana Addo Dankwa Akufo-Addo launched the SME Growth and Opportunities Programme in Accra.
According to her, it is a ground-breaking initiative which seeks to assist Ghanaian SMEs to scale up and build their capacity to make them sustainable and compete favourably in the international marketplace. The Bank is a strategic partner.
She further noted that “Today, we want to share with you our plan for Micro and SMEs on our special initiative under the SME GO Programme to strategically position your businesses and take you to the next level. We want to share ideas and identify ways of supporting your businesses to grow. We are here for you, so please feel free to engage with us.”
She added that they want to develop them to grow into the international market, adding that if they contribute 70 percent of the GDP, then there is the need for them to be supported.
According to her, the mandate of the Bank is to support and develop trade between Ghana and other countries, overseas investments by Ghanaian Companies and eliminate critical market failures in the Ghanaian economy thereby making Ghana competitive in the global marketplace.
The deputy CEO of GEXIM Bank noted that financing from the Ghana EXIM Bank aims at key benchmarks derived from development instead of commercial objectives. These are employment creation, value addition through production, efficiency and foreign exchange revenue potential.
The Head of SME Banking at GEXIM, Bright Darko said as part of the programme some funds have been set aside under Capacity Building for some micro and small businesses who will need grants to support their operations.
He said it was why they met those businesses to try and explain to them what the programme was all about as well as how they could apply in line with the requirements.
He said as a department, they have seen access to finance as the main challenge of the SMEs because the commercial banks shy away from them.
Against this backdrop, Mr.Darko said, this facility has specially been put together to assist SMEs struggling to get funding from the commercial banks, adding that they are critical to the economy.
Additionally, he said, they would put in place monitoring systems to ensure that the grants are put to good use.
He also announced that the bank is on course of setting up a processing facility by June, 2025
After the meeting an application form was made available for them to start applying.
The application will run from now till the end of October, and within a period of 30 days of application, one is expected to get the fund.
The participants expressed appreciation to the government and the bank for coming to their aid to enhance their capacity.
They promised to put the support to good use,
By Edem Mensah-Tsotorme
Minister for Education Haruna Iddrisu has questioned why Ghana continues to import toothpicks despite having the resources to produce them locally.
Speaking in Parliament, Mr. Iddrisu, who previously served as Minister for Trade and Industry, said he feels ashamed that the country still depends on imports for such a basic product.
“I have been Minister for Trade and Industry before and I carry the shame. How come that in Ghana we cannot produce toothpicks and we have to import them?” he asked.
According to him, Ghana has enough resources to support local businesses to manufacture products such as toothpicks instead of relying on imports. He said the country should encourage private sector investment in manufacturing to create jobs and reduce dependence on foreign goods.
Mr. Iddrisu alleged that some people who received government support under private sector initiatives failed to use the funds for their intended purpose.
“If you want, Honorable Kojo, because you… I can’t go there. There are people who took money in the name of the private sector and said they were going to farm. That money never went to their farms. You know that,” he told Parliament.
On job creation, the Education Minister said he agreed with the views expressed by a colleague on the need to create more employment opportunities. However, he argued that the One District, One Factory (1D1F) programme did not provide the solution to Ghana’s employment challenges.
Mr. Iddrisu made the remarks during parliamentary proceedings while contributing to discussions on job creation and the country’s industrial development.
By: Jacob Aggrey
New Patriotic Party (NPP) communications officer, Dennis Miracles Aboagye, has dismissed reports linking him to an alleged GH¢55 million case, insisting that no such issue was raised during his detention by the Economic and Organised Crime Office (EOCO).
In a Facebook post after his release from EOCO custody, Mr Aboagye stated that at no point during his detention was he questioned about any GH¢55 million.
“For the records: There was no discussion of any GH¢55 million with me by EOCO. None,” he wrote.
According to him, he was detained for four days, a day after announcing his intention to contest for the position of National Communications Director of the New Patriotic Party.
Mr Aboagye alleged that false narratives were circulated about his arrest but expressed confidence that the truth would eventually prevail.
He thanked NPP supporters who demonstrated and called for his release, saying news of the protests reached him while he was in detention and encouraged him.
Mr Aboagye indicated that the support shown by party faithful strengthened his resolve and reaffirmed his commitment to serve the NPP.
He maintained that his detention had not discouraged him from pursuing his political ambition.
“If the intention was to break me, it has failed. If the intention was to scare me, it has failed spectacularly,” he stated.
Mr Aboagye expressed appreciation to his legal team, the leadership of the NPP and all supporters who stood by him throughout his detention.
He reiterated his determination to lead the party’s Communications Directorate, declaring that he remained “ready to win” and committed to what he described as the party’s mission to “command the narrative.”
By: Jacob Aggrey
