Some key business sectors want government to create opportunities that will enable the private sector attract investment.
The businesses believe this will sustain and broaden growth in the SME sector and also impact on economic growth, income, and employment issues in the country.
One of such is the African Management Services Company (AMSCO).
SME’s have been noted to contribute about 70 percent to Ghana’s GDP.
In an interview with Citi Business News, CEO of E& Partners and a board member of AMSCO, Evelyne Fatou Tall stated that government must work to improve and strengthen the business environment to allow the private sector grow.
“In Africa 70-80% of our economies are either in SME’s or the informal sector. So it’s very important for government to ensure that the SME sector grows and also that the SME’s are sustainable. That is why in AMSCO we do say that governments are our key partners,” she explained.
She stated that SME growth across the globe is tough due to lack of assistance from key players in the industry.
“African enterprises play a crucial role in the growth of the African economy. However, their capacity to fully engage at global level is often a challenge,” she bemoaned.
Madam Fatou Tall spoke to Citi Business News at the sidelines of Business Transforming Africa Conference organized by AMSCO on the theme Inspiring Innovation for Growth.
On his part, the Mayor of the Accra Metropolitan Assembly Mohammed Adjei Sowah who was the guest speaker at the program said government will assist in growing the SME sector especially as it is the best remedy to poverty.
“We are very much aware of the fact that poverty levels are still high. It is important therefore that growth is sustained, accelerated and broadened, especially, in the SME sector which is the largest employer in Ghana.”
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana.