Alan Kyerematen, the minister of trade and industry, has fervently urged the Bank of Ghana and the Ministry of Finance to work together to establish some loan programmes that will guarantee the release of funds to Micro, Small and Medium Enterprises (MSMEs).
The call was made in response to a suspicion that Ghanaian companies would be passing up chances to do business abroad that could bring some foreign currency into the nation.
Speaking at the official opening of the business resource centres set up by the Ghana Enterprises Agency, the Ministry of Trade and Industry, and other partners, Alan Kyerematen said he thought small businesses could be helped to benefit from some export-oriented programmes run by the federal government and other international organisations.
"Since I can see my younger brother, the deputy minister of finance, here, let me make this plea to my own government and to myself. He pleaded for cooperation between the Bank of Ghana and the Ministry of Finance to implement a loan guarantee programme that would free up bank liquidity to aid in the growth of micro, small, and medium-sized businesses.
He is certain that the creation of the Company Resource Centers will serve as a vehicle for the country's small business community to undergo change.
No country has undergone considerable economic transition and growth without becoming a major industrialised economy, according to the history of the main nations in Europe, North America, and Asia.
He said, "These nations have built strong MSMEs that, in many cases, have evolved from family-owned firms into large, worldwide corporations.
Kosi Yankey Aryeh, the chief executive of the Ghana Enterprise Agency, has stated that the organisation plans to help more enterprises in the coming days through its programmes.
She also revealed that since the agency's founding, around 520 million cedis had been invested in the MSMEs sector.
The International Fund for Agricultural Development (IFAD), the African Development Bank, and the Rural Enterprises Programme all contribute to the development of the BRCs in some way.
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