Economist and Senior Lecturer at the University of Ghana Business School (UGBS), Professor Lord Mensah, has agreed with a survey report presented by Klynveld Peat Marwick Goerdeler (KPMG), which engenders support for Small and Medium Entrepreneurs (SMEs) in Ghana.
KPMG suggested the upcoming 2022 Ghana budget report should include avenues to ensure the growth of SMEs in Ghana.
In a conversation with Samuel Eshun, host of the Happy Morning Show, the Professor said, “I support calls for the provision of support to SMEs in the yet to be delivered 2022 budget. I believe most SMEs in Ghana need financing since funds are not able to sip into SMEs due to over-concentration at the money market level.”
Mr Mensah emphasized the forecast by KPMG on the 2022 Ghana budget, is to allow Ghana to strategically position itself to take advantage of the Africa Continental Free Trade Area (AfCFTA).
He further stated that SMEs need to be financed in order for them to produce and push their products to the now integrated market created by the AfCFTA agreement.
“It is also a way to position ourselves to take advantage of the AfCFTA agreement. If SMEs are not financed, I doubt they would be able to produce and make sure they spill over their products to the integrated market we are targeting now created by the agreement,” he added.
Professor Lord Mensah commended the KPMG report and advised the government to consider it in order to progress.
By: Jude Tackie
