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Business News of Thursday, 10 April 2025

    

Source: www.ghanawebbers.com

Buy made-in-Ghana products – Western Regional Minister appeals to Ghanaians

Western Regional Minister Joseph Nelson has urged Ghanaians to buy local products. He emphasized the need for conscious efforts to support Ghana's economy.

“Buy from them. Mentor them. Partner with them,” he said. “Let us empower our entrepreneurs to compete globally.” He believes this will help build a resilient economy powered by Small and Medium Enterprises (SMEs).

Nelson spoke at the fourth Chamber Bazaar 2025, organized by the Ghana National Chamber of Commerce and Industry (GNCCI). This trade exhibition aims to promote locally made products from Ghanaian companies. He found the event inspiring and refreshing.

The theme was “Empowering and Preparing SMEs for Global Markets.” Nelson highlighted the importance of technology in cross-border trade. Businesses must position themselves well to benefit from global markets.

He thanked the regional manager and chairman for their efforts in organizing the bazaar. He also welcomed Mr. Stephane Miezan, the national president of GNCCI.

Nelson assured the business community that they would work together to promote development in the Western Region. He noted that their strategic location and resources could make a significant difference.

He encouraged small businesses to inspire others and increase investment in the region. SMEs are vital for creating jobs, driving innovation, and contributing to Ghana’s GDP.

SMEs are essential across various sectors like agro-processing, arts, crafts, retail, manufacturing, and services in the Western Region. They reflect creativity and resilience but face challenges accessing global markets.

These challenges include limited access to finance, inadequate knowledge of international trade practices, and difficulties meeting international standards. To overcome these issues, he called for inclusive strategies.

Access to finance is crucial for SMEs' growth. The NDC government plans to establish a Ghana SME Fund for low-interest loans and grants. Tax incentives will also be improved to ease financial burdens on entrepreneurs.

The government will invest in capacity building through regional support hubs offering technical assistance and mentorship opportunities. This will help SMEs become more efficient and competitive globally.

Support is needed for businesses to meet international standards as well. The government will collaborate with regulatory agencies like the Ghana Standards Authority for compliance assistance.

The digital economy presents new opportunities for SMEs as well. Expanding digital infrastructure will enable them to use e-commerce platforms effectively.

Nelson stressed that empowering SMEs means fostering partnerships with international counterparts and trade facilitators too.

He stated that creating a business-friendly environment is essential through policies that reduce bureaucracy and encourage innovation.

The Western Region has advantages such as proximity to ports and abundant resources that should be fully utilized.

In conclusion, he commended GNCCI's Western Regional Chapter for their initiative. He urged all stakeholders—government bodies, partners, financial institutions—to support local SMEs actively.