Prime News Ghana

Gov't to invest more funds to accelerate the growth of small businesses 

By Justice Kofi Bimpeh
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The government says it will be investing more funds to accelerate the growth of micro, small and medium scale enterprises in the coming months.

 The move is part of the post-COVID-19 recovery programme aimed at strengthening the economy. 

Deputy Minister for Trade and Industry Robert Ahomka-Lindsay said the government knows the importance of small businesses to the economy hence the decision to support them. 

"The reality is that we know the 700million the government has committed plus this 90million that is coming through from the partnership is the start. This government knows the importance of small and medium scale enterprises to our economy, and anytime we have a different programme that has come forward... so you will see that as time goes on more will come through but this is about recovery and resilience, the next part is growth that is a very important aspect." 

Executive Director of the National Board for Small Scale Industries (NSBBI), Kosi Yankey also indicated that they hope to improve and expand small businesses in the country to bring about development.

"With lessons leant from the CAP Business Support scheme, we hope to improve and expand and ensure that the micro, small and medium enterprises in Ghana have hope and continuously have support to accelerate the growth of their businesses."

NBSSI has also listed some sectors of the economy they described as the hardest hit by the Covid-19.

NBSSI said these sectors will receive much attention during the disbursement of government's stimulus package.

Executive Director of the NBSSI, Kosi Yankey Aryeh said the Creative Arts, media and education will receive much attention from the disbursement of the 150million cedis package announced by the Finance Minister regarding the Coronavirus Business Alleviation Programme

According to her, although all sectors of the economy will be receiving the funds these sectors will be given much attention.