The third and fourth editions of the capacity-building workshops organized by the Ghana National Chamber of Commerce and Industry (GNCCI) and Development Bank Ghana (DBG) benefited more than 230 small and medium-sized businesses (SMEs) in Tarkwa and Takoradi.
The collaboration presents a business skills development programme, where 1000 Small Medium Enterprises (SMEs) will be trained to enable them to remain competitive to enhance their business operations. The programme seeks to de-risk these businesses towards accessing long-term capital. Specifically targeting SMEs in the Agribusiness, Manufacturing and High-value services with consideration for women-led businesses, youth-led businesses, and environmental and social management systems.
The President of the Ghana National Chamber of Commerce Industry, Mr. Clement Osei-Amoako acknowledged the Development Bank Ghana (DBG) for its cooperation and support during the four editions held in Accra on August 15, Koforidua on August 31, Tarkwa on September 13 and Takoradi on September 15, 2022. In all, 400 business participants have been trained with more than forty percent (40%) being women-owned businesses.
Commending the government, he said the establishment of DBG is an enabler for businesses in Ghana and a long-term capital provider for the market. This he said has come at a crucial moment to address the difficulty in accessing long-term capital amidst the rising cost of doing business owing to both local and global shocks. “More importantly, the GNCCI calls for a smart, innovative and indigenous way of addressing the collateral-issue in order not to impede business access to capital. Also, DBG’s Participating Financial Institutions must ensure that bankable projects are given the nod to boost the confidence of our businesses as well as entrepreneurs” he cautioned.
Accordingly, the capacity-building workshop in Takoradi is the fourth edition as earlier indicated with the next editions scheduled for Cape Coast to conclude the first phase. The key deliverables of this targeted business support service are as follows:
• Identify eligible MSMEs and organise workshops, seminars, and business clinics on topics of relevance;
• On-board these MSMEs on the digital platform, GIFE;
• Provide administrative support to MSMEs in applying for loans from the PFIs by reviewing loan applications before submission to the PFIs;
• Organise SME clinics, mentoring and coaching sessions to provide handholding for the MSMEs that are unsuccessful in accessing loans from the PFIs; and
• Embarking on periodic and scheduled visits to the businesses of participants to follow up on applications of interventions.
Mr. Osie-Amoako emphasized the GNCCI’s readiness for the next steps to sustain the momentum of the initiative. He noted that, the Chamber has developed a holistic framework for the setup of the GNCCI SME Clinic Desk at respective branches to provide technical and administrative support to businesses that meet the eligibility criteria of DBG. “The desk will review loan applications from the businesses, follow-up on businesses that have not been successful, and continue providing technical and administrative support to new and eligible members” he said
He reassures industry players at the workshop of the GNCCI's dedication to promoting and protecting commercial and industrial interests via its cutting-edge business support services. "Now is a better time to join and partner with the GNCCI to build a resilient and competitive private sector" he said.
Ghana National Chamber of Commerce and Industry (GNCCI) in partnership with the Development Bank Ghana (DBG) is undertaking the first phase of a capacity-building workshop targeted at 1,000 SMEs throughout the country. This initiative forms part of DBG’s commitment to foster strong partnerships to build capacity for SMEs. The program has been designed for SMEs to build knowledge on the various business areas that will enhance their ability to access funding from DBG’s partner financial institutions (PFIs) as well as build sustainable businesses.
The maiden edition held in Accra a fortnight ago, hosted a total of 94 participating SMEs whose businesses are spread across DBG’s primary focus sectors; agribusiness, information technology, manufacturing, and high-value services. Within these sectors, women and youth-led businesses form an important part of DBG’s focus.
At the edition in Accra, Mr. Clement Osei-Amoako, president of the Chamber said the skills development programme is to provide 1000 MSMEs with the requisite skills to scale-up their business operations and de-risk them to better access long-term capital.
The Deputy CEO of the DBG, Michael Mensah-Baah reiterated the bank’s commitment to being an integral part of the solution to foster SME growth in the economy. This he said, was pivotal to the success of Ghana’s economic growth. In another statement,
In Koforidua, where the second workshop in the series recently took place, a total of 100 SMEs within the locality participated. More than 40% of these were women-owned businesses. The participants who attended these workshops were taken through various business topics by experienced resource persons in risk management, environmental and social governance (ESG), financial management and entrepreneurship. ESG practices require a holistic evaluation of a business to determine how it serves its internal and external stakeholders and the environment where it has influence. Participants were exposed to the benefits of adopting ESG frameworks and sustainability practices in their businesses.
The joint business skills development program is under the theme “Empowering SMEs with the requisite business skills for sustainable growth and resilience”. The regional workshops look to develop and reinforce the business skills of Ghana’s private sector to improve commercial operations to become more competitive. The next set of workshops comes off in Tarkwa, Takoradi and Cape Coast on the 13th, 15th, and 20th of September 2022 respectively.
SMEs are urged to take advantage of this unique opportunity and sign up with the Ghana National Chamber of Commerce and Industry (GNCCI) and more importantly, get on-boarded, onto the digital platform (Ghana Integrated Financial Ecosystem - GIFE) along the five pillars: SME Financial Empowerment Platform; Market Place and Financial Trade Corridor; Connected Digital Financing; Reputational Building; and Equity Growth to benefit from the DBG’s loans via their participating financial institutions.
The Ghana National Chamber of Commerce and Industry (GNCCI) is an association of business operators, firms, and industries established under the Legislative Instrument (611 of 1968; Act 232) with the prime responsibility of promoting and protecting commercial and industrial interests in Ghana.
DBG employs a wholesale banking model where it provides funding to eligible financial institutions to on-lend to Ghanaian businesses in targeted industry sectors. DBG does not lend directly to SMEs but leverages on the networks and existing infrastructure of its partner financial institutions to provide financing to the private sector. DBG also adopts a partnership approach to provide business advisory services and training to SMEs.
DBG’s partnership with GNCCI is to continuously engage with the PFIs to ensure collaboration to achieve financial de-risking of these SMEs and ensure a robust monitoring and evaluation framework.
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