A GH¢160 million programme to support Small and Medium-scale Enterprises (SMEs) to accelerate their growth was launched in Accra yesterday.
Dubbed, “SME High Growth Programme,” it is being funded by the World Bank and implemented by the Ghana Enterprises Agency (GEA) with a target of 2,000 SMEs under the Economic Transformation Project (GETP).
The programme is focused on providing beneficiary SMEs with technical assistance on business management capabilities and productivity-enhancing improvements for improved business operating culture that will enhance competition and growth.
At a ceremony to launch the programme yesterday, Deputy Minister of Trade and Industry, Nana Ama Dokua Asiamah-Adjei, said the programme formed part of government’s efforts to promote private investments and firm growth in non-resource-based sectors.
She noted that selected SMEs would undergo generic training, capacity upgrades, and would be provided with grants that could enable business transformation and growth.
Women-owned businesses, enterprises using green technologies, youth-owned SMEs, and firms owned by Persons with Disability (PWDs), she noted, would be given special attention under the programme.
The Deputy Minister said the programme’s support was expected to culminate into job creation and job sustainability.
Further, Mrs Asiamah-Adjei noted that the support would transition the beneficiary SMEs into the next stage of growth, thereby improving their ability to increase sales and exports.
Chief Executive Officer of the Ghana Enterprises Agency (GEA), Kosi Yankey-Ayeh, said the programme was designed with the objective to boost the productivity and competitiveness of small and medium-sized firms with high potential for scaling up their operations, increasing sales and creating sustainable jobs.
She stated that the technical assistance component of the programme was necessary to help the businesses take advantage of technology and other modern platforms to transform their businesses.
All interested applicants, she noted, were required to visit the agency’s portal which was opened from now till February 22 this year for registration.
Mrs Yankey-Ayeh said successful applicants would have access to a diagnostic self-assessment to help gauge capacity gaps in their operations and further receive generic training to augment their business management capacity.
“Qualifying applicants will have a detailed 360 diagnostic performed on their businesses to highlight strengths and capacity gaps.
“Tailored capacity support will be provided to the selected applicants to help address identified gaps. Applicants will also be eligible for catalytic grants as an additional incentive to spur enterprises competitiveness, innovation and growth,” she noted.
BY TIMES REPORTER
