The Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, believes one of the ways to raise more entrepreneurs within the Micro Small and Medium Enterprises (MSMEs) sector is for the government to empower the youth through skills training right from Senior High School.
Speaking on the on-air series of the ongoing Citi Business Festival, Mr. Grant on Monday, June 7, 2021, said this will give rise to marketable entrepreneurs in the future.
“How do we help SMEs to thrive? There is no magic wand. Our banks would help if they could. Unfortunately, our banks are very small. They are not large enough to support an economic transition. And so, we need to ensure that, right from secondary school, we start teaching people concepts of how to grow their business and manage it.”
“At the end of the day, when you learn to do things right and your product meets the needs of the market, it’s easier to grow your business. When you are able to demonstrate that, you have the market waiting, the banks will support you, some will even come chasing after you,” he explained.
He also recommended inclusive partnerships at the global and regional levels as an effective way to sustain the country’s MSME sub-sector.
“For us as a country, there are two SDGs that are paramount to our development, one of which is SDG 17, which is partnerships and linkages. Partnerships and linkages are things that brought Dubai to this level. Today, the Dubai economy is basically held by Emirates, but they have given themselves time to learn and understand how things work, and they gradually took over.”
His discussion centered on: “What Micro, Small and Medium Size Enterprises need to know about doing business in Ghana”.
About the Citi Business Festival
The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses.
This year’s edition is hinged on five thematic areas, namely:
Week 1: Digital Economy – Building a cashless society and the opportunities for business and job creation.
Week 2: Doing business in Ghana.
Week 3: AgriBusiness – Feeding Ghana with a sound import substitution strategy.
Week 4: Trade – AfCFTA: Opportunities for investment & Job creation in Ghana.
Week 5: Oil and Gas – The opportunities for indigenous businesses.
There will be virtual business fora live on Citi TV every Tuesday from 11:00 am to 1:00 pm for the entire month.
The radio on-air series, from Monday to Thursday on the Citi Breakfast Show, is themed to correspond with the virtual fora.
The Citi Business Festival is sponsored by Absa Bank with support from IT Consortium and Ghana Investment Promotion Centre (GIPC).
It is also powered by Citi FM, Citi TV, and Ghana’s most comprehensive business news website, www.citibusinessnews.com.