Exim Bank to address challenges

The Minister of State in charge of Private Sector Development, Mr Abdul-Rashid Pelpuo, is optimistic the establishment of the proposed Export-Import (Exim) Bank will help address the financial challenges entrepreneurs face in their operations.

Mr Pelpuo said this to the GRAPHIC BUSINESS at the launch of a new programme dubbed: “Enhancing Development of Ghanaian Entrepreneurs (EDGE)” in Accra.

He said the government planned to use the bank to strategically position Ghana as an export-led economy.

“The Ghana Exim Bank is expected to be a vehicle for the consolidation of the current export finance activities of the Export Development and Agricultural Investment Fund (EDAIF), Exim Guaranty Company and Export Finance Company,” he said.

He however mentioned that, the EDGE programme would motivate youth to venture into entrepreneurship.

He also urged the private sector to take up the challenge and partner the government to address problems that continued to affect the growth of the country’s development.

He said although the government was making momentous efforts to address the problems, the support of the private sector would be a major boost towards enhancing the SMEs sector.

The minister, therefore, commended the UK government for funding the programmes, adding that “with this kind of support, young entrepreneurs will have the capacity to grow their businesses”.

UK-Ghana collaborate

The Country Director of the British Department for International Development (DFID), Mr Jim McAlpine, said the UK government was working with the government of Ghana to improve the environment for small businesses.

He said the British Council’s Skills Hub had, so far, supported 4,000 young Ghanaians through paid internship, employment and entrepreneurial skills training.

EDGE programme

It is a programme that seeks to equip young Ghanaian entrepreneurs with the needed skills and resources to overcome barriers and grow their businesses.

It is also designed to create a thriving community of entrepreneurs through increased access to business development services and financing.

It is an initiative of the Enhancing Growth in New Enterprises (ENGINE), a multi-year entrepreneurship development programme implemented by TechnoServe, with funding from the UK Government through the DFID.