{"id":21996,"date":"2024-07-18T16:02:53","date_gmt":"2024-07-18T16:02:53","guid":{"rendered":"https:\/\/sotnews.agency\/?p=21996"},"modified":"2024-07-18T16:27:35","modified_gmt":"2024-07-18T16:27:35","slug":"ghanas-growth-model-must-go-beyond-relying-heavily-on-foreign-direct-investment-raw-material-exports-finance-minister","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=21996","title":{"rendered":"Ghana\u2019s growth model must go beyond relying heavily on foreign direct investment & raw material exports \u2013 Finance Minister"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 44 Second <\/div>\n\n <\/div>

Finance Minister Dr Mohammed Amin Adam has said that the data is clear that supporting small and medium-scale enterprises (SMEs) is crucial to achieving Ghana\u2019s growth and development ambitions. <\/strong><\/p>\n

He says there is a need to be intentional about providing access to financial resources, expertise, and capacity-building programs that empower them to drive innovation, create jobs, and stimulate economic growth.<\/p>\n

\u201cGhana\u2019s growth model must evolve beyond relying heavily on foreign direct investment and raw material exports, which can be volatile and expose us to external shocks. Instead, we must harness the potential of our homegrown SMEs to build a prosperous, dynamic, and competitive economy,\u201d Speaking during the Ministry of Finance (MoF) SME Growth and Opportunity Summit \u2013 2024 on Tuesday, July 16.<\/p>\n

Sustaining macroeconomic stability requires Bank of Ghana to continue keeping an eye on inflation \u2013 Addison<\/a><\/p>\n\n

\u201cToday [Tuesday July 16], we embark on a new chapter in our journey toward economic transformation. We have overcome challenges in the past, and our recent achievements in macroeconomic stability \u2013 robust growth, lower inflation, and stronger public finances demonstrate our resilience and determination.<\/p>\n

Through the SME GO, he said they will bind the public and private sectors together to create a better ecosystem for our SMEs.<\/p>\n

\u201cOur implementing partners \u2013 GEA, Ghana Exim Bank, and Development Bank Ghana \u2013 possess the expertise and capacity to deliver results
\nswiftly.<\/p>\n

\u201cWe have consulted with stakeholders, including the AGI and civil society, to design selection criteria and financing instruments tailored to meet the needs of high-growth potential SMEs.<\/p>\n

Inflation rate drops in June to 22.8%<\/a><\/p>\n\n

\u201cAdditionally, we recognize that financial support alone is insufficient, which is why the Programme includes comprehensive capacity-building programs to upskill both beneficiaries and the wider business landscape. This is particularly important because it seeks to address the risk of lending to SMEs by Commercial Banks, who continue to be worried about low loan recoveries,\u201d Dr Amin Adam said.<\/p>\n

The post Ghana\u2019s growth model must go beyond relying heavily on foreign direct investment & raw material exports \u2013 Finance Minister<\/a> first appeared on 3News<\/a>.<\/p>

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Finance Minister Dr Mohammed Amin Adam has said that the data is clear that supporting small and medium-scale enterprises (SMEs) is crucial to achieving Ghana\u2019s growth and development ambitions. He… <\/p>\n","protected":false},"author":1,"featured_media":22025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-21996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/21996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21996"}],"version-history":[{"count":2,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/21996\/revisions"}],"predecessor-version":[{"id":22027,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/21996\/revisions\/22027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/22025"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}