GIZ Ghana has held a two-day forum for Micro, Small and Medium sized Enterprises (SMEs) on effectively accessing financial support for the growth of their enterprises.
The ‘Access to Finance’ forum held in Takoradi also provided relevant insights on how SMEs can further bridge the gap in understanding between financial institutions such as banks and insurance companies, and business owners.
It was organised by the GIZ Reform and Investment Partnership project, the Migration and Employment Promotion component and Financial System Development component under the Programme for Sustainable Economic Development, and the Special Initiative for Training and Job creation (SI Jobs) programme.
The event was also in collaboration with various innovation hubs including Duapa Werkspace, the Social Entrepreneurship Hub, ICODE and Sekondi Takoradi Chamber of Commerce.
Various experts in the field of entrepreneurship and business financing including the Head – CDC Consult, Ernest Senyo Dzandu, Senior Project Manager – Piron Global Development, Ebenezer Asumang, Director of Projects – Social Entrepreneurship Hub, James Arthur-Amoah expounded on various pertinent issues touching on business development and digitalization as well as fund raising for SMEs.
This years’ forum in Takoradi included a pitching competition, which saw several SMEs pitch their businesses for the chance to win various logistics like laptops and mobile phones, contributing towards improving the digitalisation of their businesses.
Various financial institutions were present including Access Bank, Fidelity Bank, Allianz insurance and Glico insurance.
Participants of the forum also had the opportunity to register for a MoMo merchant sim with MTN, allowing them to transact business using mobile money.
An entrepreneur, Isaac, reiterated the impact of the event, “I am particularly grateful for the rich feedback and encouragement given by the judges during my pitch. I commend GIZ and Duapa Werkspace (local innovation hub) for the immense work they are putting into transforming local businesses to become competent players both locally and on the global front”.
Since 2020, the forum organised in the Ashanti and Bono regions has reached over 200 business owners with pertinent information on accessing finance for their businesses and improved their ability to generate capital through various funding strategies.