Image

Government urged to support SMEs with pragmatic policies

By: Mr Nuamah-Eshun-Famiyeh
There should be real and genuine policies that are aimed at supporting small and medium enterprises in the country, the General Manager Operations of Kina Group, Mr Nuamah Eshun-Famiyeh, has stated.

He said for SMEs to expand and thrive in the country, there was the need to introduce more targeted interventions in the sector.

Speaking in an interview with the Daily Graphic ahead of the Graphic Business/Stanbic Bank Breakfast meeting on August 6, he said some of the interventions should be in the area of utility charges.

“SMEs must not be made to pay the same utility tariffs as Club 100 companies.

This is one of the major challenges of the sector,” he stated.

How critical is capital

Commenting on how critical capital is to the survival of SMEs, Mr Eshun-Famiyeh said the importance of capital to the survival of SMEs depended on the sector in which the business was operating.

He said SMEs in the services sector did not need much capital to operate while those in the manufacturing sectors needed excess capital to survive.

Mr Eshun-Famiyeh noted that access to funding in itself was not a challenge.

Instead, he said the challenge was rather the high cost of capital in the country.

He said banks in the country were charging high interest rates which had made it impossible for owners of SMEs to record profits.

“Owners of SME businesses rarely make profit.

Those who are making the money are the banks and the employees,” he stated.

Graphic Business/Stanbic Bank breakfast meeting

The Graphic Business/Stanbic Bank Ghana, scheduled for August 6, 2019 at the Labadi Beach Hotel in Accra, is expected to bring together experts from academia, policy think tanks and civil society organisations (CSOs) to fashion out how the country can build an equity fund to address the finance challenges of SMEs.

As a result, it will be held on the theme: “Building a national equity fund to support small and medium enterprises”.

Speakers for the forum include the Dean of the University of Ghana Business School, Professor J. Nyingma Bawole; the General Manager Operations of Kina Group, Mr Nuamah Eshun-Famiyeh; Partner/Director at PWC, Private Company Services Leader for West Africa Region, Mr Edward Gomado, and a Consultant to the International Finance Corporation, Mr Neustadt Amarteifio.

SMEs in Ghana

SMEs remain the major avenue of employment and can absorb a chunk of the unemployed youth if supported, as all over the world SMEs are increasingly being recognised as productive drivers of economic growth and development.

Despite the immense contribution of SMEs to the growth of the economy, the sector still faces a myriad of challenges which have stifled growth in the sector and in effect slowed down the growth of the economy.

One of such problems, and perhaps the most pertinent over the years, has been the difficulty and near impossibility of having access to finance, especially fresh capital to start up or expand an existing business.

Unfortunately, the country presently cannot boast of a national equity fund as it pertains in some other countries the world over.

In these countries, mostly in the developed world, the presence of such an equity fund has been the springboard for the growth of SMEs.

Aside providing the needed capital which is the fuel that drives businesses, the fund also provides the framework for financing SMEs.

Previous attempts

Ironically, the closest the country has come to establishing and operating such a fund was the setting up of a venture capital fund which was to provide capital for SMEs.

This fund has, however, been insufficient to address the funding needs of SMEs, prompting calls for the need to set up a national equity fund to support the sector.

Comments

  • aychypzs

    09 November 2019, 12:16 am

    FEuy0r dodgrfpoorke, [url=http://zgfucabqovoq.com/]zgfucabqovoq[/url], [link=http://lbfqweawpaqw.com/]lbfqweawpaqw[/link], http://mjgcmwfvgzzd.com/

  • Melvin

    02 August 2019, 03:16 pm

    How many more years do you have to go? pealmedssupply.com Rangers have traditionally been identified with Protestantism, while Celtic, which was founded a priest in 1887, is often seen as a symbol of the Irish Catholic community that migrated to Scotland starting in the mid-19th century. Consequently, the Old Firm has often taken on religious and political dimensions.\n test enanthate side effects U.S. crude oil ended higher on Friday, mostly on supply disruption concerns after Tropical Storm Karen moved into the Gulf of Mexico. Crude for November delivery ended up $0.53 or 0.5 percent at $103.84 a barrel on the New York Mercantile Exchange.\n advanced bionutritionals llc complaints OneSavings Bank, which is backed by US private equity group JC Flowers and owns the Kent Reliance mutual, is snapping up debt that is not in default, marking its first foray into the personal loans market.\n myocare clinic moncton nb Will the statue stay? \"I\'ll reflect on it and listen to the fans,\" said Khan. \"If he dares move it he will be in trouble,\" countered Al Fayed. \"I will come in front of the fans with a big razor and take your moustache off.\"\n how many mg of erythromycin for acne \"We Saudis observe President Obama\'s efforts in this regard. The road ahead is arduous,\" he said. \"Whether (Iranian President Hassan) Rouhani will succeed in steering Iran toward sensible policies is already contested in Iran. The forces of darkness in Qom and Tehran are well entrenched.\"\n

  • Brooke

    02 August 2019, 03:16 pm

    I work for a publishers fentanyl patch daily dose ** Australian iron ore miner Fortescue Metals Group Ltd said it would not rule out the sale of a minority stakein its Western Australia port and rail infrastructure assets,but no talks were currently underway.\n amlamed.com Joey has been given several hundred dollars over the last few days and the Minnesota Wild invited him and his buddies to a game in a suite. But as the calls and texts keep coming, one has to wonder where this is heading?\n generic pharmacy rts review Former aide Reggie Love and Chicago chef Sam Kass, who has also served as a White House chef, senior policy adviser on nutrition, and executive director of Michelle Obama’s Let’s Move! campaign, also played.\n pharmaton vitality capsules price World Bank President Jim Yong Kim added his voice to achorus of experts warning about the impact of the stalemate,saying on Wednesday that even the threat of a U.S. default couldhurt emerging markets and the world\'s most vulnerable people.\n rnpills.ru\r But she and Asos chief executive Nick Robertson struck a different tone yesterday after she resigned and stepped down from the board with immediate effect. Mr Robertson said: “Kate and I have agreed that Asos is not the right platform for her talent. Of course we are disappointed that things haven’t worked out.”\n

  • Benton

    02 August 2019, 03:16 pm

    i\'m fine good work functionalhealth.nz Then you choose Symbian, an end of life product, to build for. Why would they waste the money on it? Sure there may be quite a few people out there on it now, but it would be financially stupid to have built one.\n uga bs pharmaceutical sciences Reasonable grounds also include the suspect's behaviour, or they can be stopped on the basis of contextual information - such as a high number of burglaries in an area. Police can also stop people if they match the description of someone wanted.\n xyngular accelerate cost Jeter struck out looking in the first inning and grounded into a double play on the first pitch he saw in the third. He drew a five-pitch walk in the fifth and grounded into a fielder’s choice in the seventh, then advanced to second on an error. After a groundout sent him to third, he scored on a slide into home plate on a passed ball, running hard on the play.\n generika cialis aus europa Out of town, Leeds Castle in Kent has a train, medieval knights\' realm, with mazes, grottoes and zip slides for the adventurous, and at 4.30pm each day children can help the wildlife warden feed the waterfowl.\n pes alpha t2 australia\r But in contrast with last year, when illegal strikes spunout of control into violence, the wage talks process this yearhas followed standard legal procedures and has been generallypeaceful, although there have been sporadic murders at mines.\n

  • Irving

    02 August 2019, 03:14 pm

    I\'m doing an internship virilax website And while corporate lobbying and media confection have long since replaced any genuinely democratic gathering of grassroots members, today's conferences still focus parties' minds and quicken pulses.\n feminil pastillas\r The California native said he\'s been stopped multiple times by police and handcuffed \"because I fit the description of someone they were looking for,\" though he noted charges were never filed against him.\n imedtechnology.com The IE research supported the thesis of an earlier study byU.S. academic Jim Lee, which found that U.S. family firmsaveraged 14 percent revenue growth and a 10 percent net profitmargin in a 10-year period to 2002, compared with 9 percent and8 percent, respectively, for non-family businesses.\n best foundation from drugstore 2014 Amid busy preparation for spring fashion week, a clothing line and his diffusion label 10 Crosby, Lam has squeezed in time to partner with Cliff Lede Vineyards in California’s Napa Valley to produce a limited edition Cabernet Sauvignon.\n buy lansoprazole online uk April 26 - Boeing launches the 787 Dreamliner, the firstcommercial jetliner to extensively use both lightweight carboncomposite construction and powerful electrical systems withlithium-ion batteries.\n

  • Arron

    02 August 2019, 03:14 pm

    We work together m.health.tvbs.com.tw He plans to lobby Governor Nathan Deal, a Republican, toagree to a Medicaid expansion that would cover adults under thepoverty level, who won’t be eligible for subsidies to buyinsurance in the exchanges, Eaves said in a news conferenceafter the meeting.\n imitrex tablets price\r 'I am disturbed by the allegations that led to the … investigation, but hope that it will put bad landlords on notice, New York Gov.  Cuomo said of a probe into Castellan Real Estate Partners/Liberty Place Property Management, which is accused ot harassing mostly Spanish-speaking tenants.\n healthplus pharmacy abuja While the 43-year-old father of three has won five World Series rings, has a record 652 saves and a trophy case stocked with accolades and awards, Rivera said that while he has no regrets, pitching during an era of rampant performance-enhancing drug use still rankles him.\n twinlab tribulus fuel side effects They think it might contain the remains of the knight Sir William de Moton of Peckleton, who died between 1356 and 1362, or one of two heads of the Grey Friars order in England, Peter Swynsfeld or William of Nottingham.\n medical virology free pdf The blast ripped through the busy centuries-old market known as Quiswakhani, or the storytellers\' bazaar, in Peshawar\'s old city on Sunday, exactly a week after more than 80 Christians were killed in a twin suicide bomb attack on a nearby church.\n

  • Moises

    02 August 2019, 03:14 pm

    Looking for a job gentian violet pharmacy\r The bank said in a statement it will sell, on Mondays through Thursdays, $500 million worth of currency swaps, derivative contracts designed to provide investors with insurance against a weaker real. On Fridays, it will offer $1 billion on the spot market through repurchase agreements.\n will my gp prescribe clomid uk Many Americans were alternately elated by their rescue and stunned by the details that later emerged of his brutal treatment of the women. They had been bound for periods of time in chains or ropes and endured starvation, beatings and sexual assaults, according to court documents and a police report.\n sulfa bactrim uses The government needs to clear legal hurdles on its use offoreign exchange assets if it wants to draft in the services ofprivate financial institutions and will propose amending the lawduring a parliamentary session that begins on Tuesday.\n intek bcaa evolution\r \"Shutting down the government just because I\'m for keeping it open, that\'s not an economic plan; threatening that you won\'t pay the bills in this country when we\'ve already racked up those bills, that\'s not an economic plan, that\'s just being a deadbeat,\" he said.\n kroger.unitedpharmacysaver.com/ The KTMs are the bike of choice on the Desert Rose Adventure Riding Academy\'s course for beginners (or stage one if you don\'t want to be labelled a novice). It\'s an introduction to trail riding for those with little or no off-road experience.\n

  • Kevin

    02 August 2019, 03:14 pm

    I\'d like to cancel this standing order wellbutrin discount prescription card \"Apple has always put user\'s security first, and as result all our products have gone through rigorous security and reliability testing,\" the page said. \"They are also designed in compliance with government safety standards around the world.\"\n can viagra and cialis be taken together U.S. President Barack Obama vowed to explore an initiativefrom Russia to neutralise Syria\'s chemical weapons, but hevoiced scepticism and still sought support for his threat to useforce should diplomacy fail.\n bazooka pills vs vimax \"I don\'t see any Internet stock that looks like a value,\"said Kim Forest, senior equity research analyst at Fort PittCapital Group in Pittsburgh. \"I\'m a fan of them as a customer,but wouldn\'t pay anywhere near the multiple we\'re seeing forthem.\"\n ivermectin medscape\r Defense lawyers described Manning as well-intentioned but naive in hoping that his disclosures would provoke a more intense debate in the United States about diplomatic and military actions in Iraq and Afghanistan.\n bactroban cvs But this booming industry has ground to a halt because, after a campaign by animal rights activists who say the method of slaughter is cruel, Poland\'s constitutional court banned the practice and this month its parliament rejected an amendment that would have allowed the slaughter to resume.\n

  • Tyrell

    02 August 2019, 03:13 pm

    Could I make an appointment to see ? ipratropium bromide albuterol sulfate 0.5 mg 3mg A-Rod swung through a breaking ball on the fourth pitch to even the count at 2-and-2, and then stayed off a breaking pitch outside to work the count full. He swung again on the sixth pitch of the at bat, grounding innocently to the shortstop.\n gelatinhealth.com.au\r The Daily News has some of the most memorable photos in sports history. From legendary boxers and iconic tennis players to golfing greats and fabled Olympians, the Daily News has the photos you want of the once-in-a-lifetime sports moments. Find yours today and relive history.\n tretinoina prezzo “They don\'t have work for us,” said Artemio Cantero, 43, the elected representative of La Soledad, a cluster of several hundred families a few miles from the town center whose small farms are all about one bad harvest shy of crisis. “We need all the help we can get.”\n where to buy prevacid in canada\r Rachel Page, a researcher at the Smithsonian Tropical Research Institute in Panama who was not involved in the present finding, wrote to LiveScience in an email: despite the oddity, some toads and frogs will systematically wait outside of caves and catch bats as they emerge from the roost at night.\n healthcac.com The U.S. State Department said on Friday, after the OPCW announced Syria\'s initial declaration, that it was studying the material. \"An accurate list is vital to ensure the effective implementation,\" spokeswoman Marie Harf said.\n

Leave a Comment

Recent Posts