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The National Small Industries Board (NBSSI) and the German Development Agency (GIZ) have signed a grant agreement of 1.5 million euros to support small and medium-sized enterprises (SMEs) in Ghana.
The grant agreement dubbed ‘COVID-19 SMEs Digitization and Innovation Support Program’ is expected to provide Ghana SMEs with digital solutions as a strategy to adapt to emerging market demands triggered by the COVID pandemic -19.
A third partner, the Digital Transformation Center, also implemented by GIZ Ghana, will be responsible for supporting this project with technical expertise to implement digital solutions.
The COVID-19 SME Digitization and Innovation Support Plan seeks to help SMEs make full use of digitization to manage their business operations more efficiently, better respond to customer needs, better organize your business information and have more efficient record keeping. and established financial management processes, making it easier for you to access finance and more.
Gerald Guskowski, Head of the Network for Inclusive Economic Development (NIED) Cluster at GIZ-Ghana, said that COVID-19 had exposed the flaws of digital transformation in Ghana and in almost every country in the world.
“That is why I am really excited to see that we can overcome these challenges and that we are able to explore the opportunities and positives of the pandemic as well,” he said.
“This partnership will support the digitization of up to 500 growth-oriented SMEs, which in turn will help maintain at least 1,600 jobs. We want to keep these businesses alive and strengthen their resilience during COVID-19, thereby maintaining jobs, ”added Mr. Guskowski.
The COVID-19 pandemic has had a significant adverse and debilitating impact on global economies.
The world’s governments and donor agencies have had to restructure their budgets and financing options and realign their priorities to ensure that the world’s economies are not crushed. In Ghana, some companies were forced to close.
For her part, Ms. Kosi Yankey-Ayeh, Executive Director of NBSSI said that the partnership with the Special Initiative on Training and Job Creation would provide an opportunity to increase the efficiency of processes and the competitiveness of SMEs by providing access to knowledge, technologies and experience in the field of digitization and process innovation.
“Most of us have to come to terms with the fact that staying resilient during this period of COVID-19 is the new standard for progress. And, for companies to remain resilient, the formalization and digitization of their operations are essential. It helps companies reach a larger market, removes physical barriers, makes paying for goods and services faster and easier. In addition to these benefits, it helps the government in the formulation and implementation of policies for Micro, Small and Medium Enterprises (MIPYMES) ”, he said.
“We have the opportunity to better understand and learn more about the needs and challenges of SMEs, even beyond digitization, to support the political agenda,” added Ms. Yankey-Ayeh.
“With COVID-19 still lurking, the digitization of SMEs continues to be high on the SME policy agenda in Ghana. Consequently, the signing of this agreement marks a critical turning point for SMEs in Ghana, and we are happy to spearhead it, ”he said.
Ms Yankey-Ayeh said it was in line with the goal of the Government of Ghana and the NBSSI to ensure that the majority of MSMEs in Ghana are formalized to help the government and the Board to provide direct support to MSMEs, adapt the trainings to meet the gaps in needs. of MSMEs and connect companies with larger markets.
“As NBSSI becomes the Ghana Business Agency (GEA) in a few weeks, this MOU could not have come at a better time. The new Agency will make the drive for formalization and digitization a very important part of our agenda, ”he added.
Source: GNA
