SMEs’ in Ashanti Region to get GH¢248 million in credit

Ninety-eight (98) small and medium enterprises (SMEs’) in the Atwima-Mponua District in the Ashanti Region, are to receive credit support totalling GHȼ248 million to expand their operations.

Each beneficiary would be given between GH₵1,000 and GH₵15,000 and they include those into palm oil production, carpenters, bakers, hairdressers, caterers, soap makers, welders, pepper and gari processors.

Mr. Benjamin Kwasi Marfo, the District Manager of the Business Advisory Centre (BAC), who announced this said the loans are being provided by the Rural Enterprises Development Fund.

This would be disbursed through the Sinapi Aba Savings and Loans Limited and that this would start in March 2016.

Addressing a seminar organized by the Association for Small-Scale Industries (ASSI) at Mpasatia near Nyinahin in the Ashanti region, he said repayment would be done between 12 and 18 months.

The seminar was meant to expose small business operators to best practices to grow and boost their returns.

The participants were sensitized on changing trends in business – product development, branding, marketing, packaging and exporting.

Additionally, they were taught how to write business proposals, workplace safety, records keeping and developing business plans.

The programme formed part of the ASSI’s efforts at creating market and open other business opportunities for its members.

Mr. Marfo advised against sub-standard products, saying, and encouraged them to put premium on quality.

It was important for local Ghanaian manufacturers to recognize that they were facing strong competition from foreign producers and therefore the need to adopt best practices and maintain standards.

Mr. Kwame Buor, Ashanti Regional Manager of ASSI, spoke of plans to engage its members on regular basis, to educate them on contemporary business demands and challenges.

Source: GNA