Government has committed an amount of GHC8.2 billion to boost Small and Medium-sized Enterprises (SMEs) in the country, the Minister of Finance, Dr. Mohammed Amin Adam, has announced. The GHS8.2 billion fund will be directed towards several initiatives aimed at addressing the challenges faced by SMEs, including access to finance, capacity building, and market access. He highlighted the critical role SMEs play in the Ghanaian economy, noting that they are the backbone of economic growth, job creation, and innovation. “SMEs are the engine of our economy, driving growth, creating jobs, and fostering innovation. This substantial allocation underscores our commitment to supporting these enterprises and ensuring their sustainability and growth,” he stated. Dr. Adam emphasised the importance of a supportive ecosystem for SMEs, which includes not only financial and capacity-building support but also a conducive regulatory environment. The government is committed to streamlining business registration processes, reducing bureaucratic red tape, and ensuring that policies are SME-friendly. “We are committed to creating a business environment that supports the growth and sustainability of SMEs. This includes simplifying regulations and making it easi In addition to financial support, government is also investing in capacity-building programs designed to enhance the skills and capabilities of SME owners and their employees. These programs will focus on areas such as financial management, marketing, and technology adoption, equipping SMEs with the tools they need to compete effectively in both local and global markets. Market access is another critical area where the government is focusing its efforts. Many SMEs face difficulties in reaching wider markets due to limited resources and networks. The government plans to facilitate greater market access through initiatives that connect SMEs with larger enterprises, export opportunities, and government procurement processes. Dr. Adam emphasised the importance of a supportive ecosystem for SMEs, which includes not only financial and capacity-building support but also a conducive regulatory environment. The government is committed to streamlining business registration processes, reducing bureaucratic red tape, and ensuring that policies are SME-friendly. “We are committed to creating a business environment that supports the growth and sustainability of SMEs. This includes simplifying regulations and making it easi Dr. Adam explained that the government recognises the hurdles that SMEs encounter and is dedicated to creating an enabling environment for their success. One of the primary components of this funding is the provision of affordable credit facilities. Many SMEs struggle with securing financing due to high interest rates and stringent lending conditions. The government aims to alleviate these issues by working with financial institutions to offer loans at more favourable terms. “Access to affordable credit is essential for the growth and expansion of SMEs. By providing these financial resources, we are empowering our entrepreneurs to invest in their businesses, increase productivity, and create more jobs,” Dr. Adam noted. In addition to financial support, government is also investing in capacity-building programs designed to enhance the skills and capabilities of SME owners and their employees. These programs will focus on areas such as financial management, marketing, and technology adoption, equipping SMEs with the tools they need to compete effectively in both local and global markets. Market access is another critical area where the government is focusing its efforts. Many SMEs face difficulties in reaching wider markets due to limited resources and networks. The government plans to facilitate greater market access through initiatives that connect SMEs with larger enterprises, export opportunities, and government procurement processes. Dr. Adam emphasised the importance of a supportive ecosystem for SMEs, which includes not only financial and capacity-building support but also a conducive regulatory environment. The government is committed to streamlining business registration processes, reducing bureaucratic red tape, and ensuring that policies are SME-friendly. “We are committed to creating a business environment that supports the growth and sustainability of SMEs. This includes simplifying regulations and making it easi