SMEs Archives - Wontumi Online

29 Nov

Bawumia Will Establish SME Bank To Support SMEs – NAPO

Wontumi10 CommentsBusinessBawumia/Napo, SMEs

Small Medium-sized Enterprises (SMEs) will flourish if Dr. Bawumia, the New Patriotic Party (NPP) Presidential Candidate, is elected as president on December 7. Dr. Matthew Opoku Prempeh, the NPP vice presidential candidate, who made the disclosure, said the NPP would establish an SME bank to support the activities of SMEs According to him, the SME banks would give loans to businesses, thereby providing opportunities for these businesses to expand and be profitable. Dr. Prempeh, who is campaigning vigorously for votes for Dr. Bawumia in the Ashanti Region was addressing the leadership of garages at Suame Magazine in Kumasi. Nicknamed ‘NAPO’ in political…

10 Oct

SMEs Support Initiatives Unveiled

Wontumi1BusinessSMEs

The Minister of Finance, Dr. Mohammed Amin Adam, at the second Quarterly Economic Roundtable, unveiled the GH¢8.2 billion SME Growth and Opportunity Programme (SME-GO), launched by President Akufo-Addo in July. He expressed confidence in Ghana's economic recovery, highlighting significant milestones achieved in the government's reform agenda. The minister said that following the ongoing disbursements targeted at supporting businesses across the country, the government has decided to include both SMEs and manufacturers in the initiative. This initiative, supported by strategic partnerships with the African Development Bank and the International Finance Corporation, aims to empower SMEs to leverage regional and global markets.…

16 Jul

President Akufo-Addo Unveils GHc8.2 Billion SME Growth And Opportunity Programme

Wontumi1BusinessSMEs

In a landmark initiative aimed at boosting Ghana's economic landscape, President Nana Addo Dankwa Akufo-Addo today unveiled the SME Growth and Opportunity (GO) Programme at the SME Growth and Opportunity Summit held at the Kempinski Hotel, Accra. The comprehensive programme is backed by a substantial GHS 8.2 billion funding package and aims to support small and medium-sized enterprises (SMEs), which are pivotal to the nation's economic prosperity. President Akufo-Addo emphasized the critical role SMEs play in Ghana’s economy, highlighting that they constitute 92% of businesses and contribute 70% to the GDP. Despite their significant contributions, SMEs face numerous challenges, particularly…

05 Apr

AfCFTA To Mobilize $10 Billion To Support SMEs

Wontumi1BusinessAfCFTA, SMEs

The African Continental Free Trade Area (AfCFTA) Secretariat has announced its commitment to mobilize $10 billion to bolster the development of small and medium-scale enterprises led by youth across Africa. The AfCFTA revealed that it has already allocated $150 million to support the burgeoning businesses of young entrepreneurs in Africa. Additionally, it aims to augment its funding resources through partnerships with institutions such as the United Bank of Africa and the Africa Exim Bank. Delivering his address at a ceremony to welcome the President of Kenya, H.E. Dr. William Ruto to the AfCFTA Secretariat, the Secretary General of AfCFTA Secretariat,…

25 Mar

GCB, Absa, OmniBSIC Offer Cheapest Loans To Households, SMEs And Corporates – BoG

Wontumi1BusinessBoG, GCB, SMEs

GCB Bank offered the cheapest loans to household consumers, the latest Annualized Percentage Rates by the Bank of Ghana has revealed. It offered a rate of 27.71% and 27.21% to clients for a period of one year and three years. Stanbic Bank (50.92%) and Bank of Africa (43.83%), however, charged the expensive rates for a tenor of one and three years respectively. For a duration of five years, Fidelity Bank offered the lowest interest rate of 26.64% on loans to customers. It was followed by GCB Bank with a lending rate of 27.04%. Similarly, Absa Bank offered the lowest loans…

21 Jun

Ghana Is Currently Working With Singapore To Boost International Trade Prospects Of SMEs – Addison

Wontumi1BusinessSMEs

Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that Ghana is currently working with the Monetary Authority of Singapore on a Business san Borders project aimed at boosting the international trade prospects of small and Medium Scale Enterprises (SMEs) of the respective countries through the implementation of digital trade platforms for market discovery. Dr Addison indicated that a number of digital initiatives had been introduced in Ghana to advance the interest of businesses and SMEs. Speaking at the 30 AFREXIMBANK General Meeting in Accra on Sunday, June 19, Dr Addison said that “we have integrated the…