• VIDEOS
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Election 2020 Results
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Photos
Local News
 
 
 
Home Business Economy 202006

Association Of Ghana Industries Calls For Policies To Enhance MSMEs Growth

28-Jun-2020
/ Economy, Business
Email
Print
Comments 0
(0)
Comments
Share on Facebook Share on Twitter
 

The Association of Ghana Industries (AGI) has urged the government to implement policies that will help Micro, small and medium enterprises (MSMEs) build resilience, local production capacity and enhance medium-term growth.

In a statement signed by Mr. Humphrey Ayim Darke, the AGI Vice President to mark the International MSMEs day, the Association said it would continue to dialogue with the Government to ensure sustainable development of our MSMEs in Ghana.

“Our SMEs can continue to count on the advocacy and business development support of AGI and we urge you to cooperate with us to work towards improving the business environment for your businesses to thrive,” it said.

The statement re-affirmed the AGI commitment to the development of MSMEs in Ghana, which represents an estimated 90 percent of all businesses in Ghana.

MSMEs in Ghana are key actors in job creation, revenue generation for Government, and contributing to GDP through various economic activities, it said, adding that many advanced economies today attribute their growth and success to the role of MSME in national development and Ghana is not an exception.

The statement highlighted access to and cost of credit of two major decade-old bottlenecks faced by MSMEs, yet available SME financing schemes had not been able to null the void.

“For this reason, our MSMEs remain under capitalized. Our SMEs continue to yield to pressure from imports and unfriendly business regulations. COVID-19 has also taken a significant toll on our local industry of which MSMEs were the worst hit,” it said.

A number of these firms have had to suspend business operations with other downsizing to keep afloat.

While we commend the Government for the Gh¢ 600 million relief package and the 50 percent subsidy on electricity, AGI believes the sustainability and timeliness of Government interventions were crucial for the continuity of business.

We welcome efforts by the Government to extend similar relief support to the large-scale enterprises as well, it said.

The statement commended development partners such as UNIDO, BUSAC FUND, NBSSI, Star Ghana, the E.U., GIZ, and business associations for the collective effort in supporting MSME development in the country.

Source: GNA

 

 
 

 

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

MoFA/MoTI Working On LI to Regulate Soya Beans Export-Minister

Next Post

Abuontem Gets Maize Factory Under 1D1F

 
 

More Stories

Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson
Less Than 2 Million Ghanaians Pay Tax
126 Private Schools Fold Up Over COVID-19
COPEC Predicts 5% Increase In Fuel Prices
Africa Seeks Debt Cancellation, New Paradigm In World Economic Order
EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021
Gov’t To Hold Nation Building Updates On Rebuilding Of Economy
Parliament Passes Petroleum Hub Bill
GIPC Quarterly Investment Report Holds Good Prospects For Ghana
Next Post

Abuontem Gets Maize Factory Under 1D1F

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Economy Stories

  • Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson

  • Less Than 2 Million Ghanaians Pay Tax

  • 126 Private Schools Fold Up Over COVID-19

  • COPEC Predicts 5% Increase In Fuel Prices

  • Africa Seeks Debt Cancellation, New Paradigm In World Economic Order

  • EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021

  • Gov’t To Hold Nation Building Updates On Rebuilding Of Economy

  • Parliament Passes Petroleum Hub Bill

  • GIPC Quarterly Investment Report Holds Good Prospects For Ghana

  • Gov't Revives Affordable Housing Scheme

 

 
 

Popular Videos

Tima Kunkum Did Not Apply Emotional Intelligence In Her Interview With Delay - Kwasi Aboagye

I Was Insulted By NDC Members For “Comfortable Lead” Comment In 2016 – Koku Anyidoho Recalls

Asomdwee Park Being Reconstructed...All Thanks To Akufo Addo - Koku

I've Opened My Doors For A Serious Boyfriend - MzVee Reveals

See How Confused You Are!!! - Mireku Duker Jabs Mahama And His Legal Team

Counselor Lutterodt Fires Tima Kunkum On Her Interview With Delay

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Online Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media