The Association of Small Scale Industries has began processes with National Pensions Regulatory Authority to ensure its members benefit from pension as well as access to funds to grow their businesses.
This, the association says is key in addressing the major challenges of the businesses which include access to funds to enhance their operations.
Members of the association who mostly operate in the informal sector include hair dressers, dress makers and technicians.
Speaking to Citi Business News at the sidelines of the 2018 Annual General Meeting of the Association of Small Scale Industries, General Secretary of the association, Charles Nathaniel Abbey explained that in order for its members to benefit from the initiative, they will first have to sign up for the ASSI “Edwumara” Service which is a platform meant to link members of the association to potential clients.
“ In order for members to benefit from initiatives such as the pension fund they will first have to sign up with the ASSI “Edwumara” Service, for the sake of accountability”
“You know that we have tier two and tier three, and we are in talks with some institutions which I do not readily want to disclose because some of the things are still being finalized but these are approved by NPRA trustees”.
“Members should register on the Edwumara platform where we ca identify them and then validate their membership”.
Meanwhile, Fund Manager of the Association, Nicholas Gebara said efforts are being made to advance the passage of the SME policy next year.
The policy is among other things expected to among other things serve as a proper framework to guide the activities of SMEs.
“Private sector organizations, academia and public sector have been there reviewing this SME policy and are commenting on it and now, the comments are being consolidated at the ministry in order to finalize it for the ministry to approve”.
–
By: Anita Arthur/citibusinessnews.com/Ghana