The Finance Minister, Dr. Mohammed Amin Adam, has praised President Nana Addo Dankwa Akufo-Addo for his visionary leadership in launching the “SME Growth and Opportunity Programme” (SME GO). This initiative aims to deepen Ghana’s economic transformation agenda.
According to Dr. Amin Adam, the SME GO Programme has the potential to create jobs, support businesses, and drive economic recovery efforts. He noted that even in the final year of his term, President Akufo-Addo remains committed to working hard to create jobs and support businesses.
Dr. Amin Adam emphasized the importance of supporting small and medium-scale enterprises (SMEs) in achieving Ghana’s growth and development ambitions. He stressed the need to provide access to financial resources, expertise, and capacity-building programs that empower SMEs to drive innovation, create jobs, and stimulate economic growth.
The Finance Minister highlighted that Ghana’s growth model must evolve beyond relying heavily on foreign direct investment and raw material exports. Instead, he emphasized the need to harness the potential of homegrown SMEs to build a prosperous, dynamic, and competitive economy.
Dr. Amin Adam noted that the SME GO Programme marks a new chapter in Ghana’s journey toward economic transformation. He highlighted the country’s recent achievements in macroeconomic stability, including robust growth, lower inflation, and stronger public finances, as a demonstration of resilience and determination.
The SME GO Programme aims to bind the public and private sectors together to create a better ecosystem for SMEs. Dr. Amin Adam expressed confidence in the implementing partners – GEA, Ghana Exim Bank, and Development Bank Ghana – to deliver results swiftly.
The Programme has been designed in consultation with stakeholders, including the AGI and civil society, to meet the needs of high-growth potential SMEs. Dr. Amin Adam emphasized that financial support alone is insufficient, which is why the Programme includes comprehensive capacity-building programs to upskill both beneficiaries and the wider business landscape.
The Finance Minister acknowledged the risk of lending to SMEs by commercial banks and highlighted the need to address this challenge. He noted that the Programme seeks to address this risk by providing comprehensive capacity-building programs.
Dr. Amin Adam expressed his optimism about the SME GO Programme’s potential to drive economic growth and create jobs. He emphasized the need for all stakeholders to work together to ensure the Programme’s success.
