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Alan Kyerematen launches BRCs to support MSMEs

By Simon Tetteh
General News Alan Kyerematen launches BRCs to support MSMEs
JUL 4, 2022 LISTEN

The Ministry of Trade and Industry has officially launched the Business Resource Centres aimed at supporting Micro, Small and Medium Enterprises (MSMEs).

The initiative forms part of the transformational agenda to offer institutional support infrastructure to comprehensively support the 1D1F business promoters investing in manufacturing enterprises in the districts under the 1D1F Programme.

Secondly, expand access to a comprehensive range of Business Development Services, professional consulting services and critical regulatory support services to every District for the benefit of all other MSMEs.

It is a decentralized programme in the various districts in the country and currently, the BRCs has about 67 locations across the country.

The establishment of the BRCs will be operated and managed under a Franchise arrangement with Ghana Enterprises Agency (GEA) as the Franchisor and private sector operators as Franchisees.

Speaking at the launch, Trade Minister, Mr. Alan Kojo Kyerematen urged Ghanaians to initiate jobs that are productive and government through the BRCs will provide the needed support to boost the Ghanaian economy.

"The history of the economic transformation of the leading countries in Europe, North America, and Asia confirms that no country has experienced significant economic transformation and development without becoming a major industrialized economy.

"These countries have developed their economies by building strong MSMEs that have grown, in many cases, from family owned businesses into global multinational companies,” he stated.

He noted that Ghana has signed numerous international trade agreements with leading economies of the world, however failed to maximize the significant market access opportunities due to the challenges associated with doing business in the country.

In view of this, he stressed that government intends to address the challenges associated with business through the initiative of the BRCs.

He urges all to take advantage to grow Ghana’s industrialization.

He further expressed government's profound gratitude to the leadership of the International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB) for the financial resources committed to support Government’s Industrial Transformation Programme.

Chief Executive Officer (CEO) for Ghana Enterprises Agency (GEA) Mrs Kosi Yankey-Ayeh, on her part emphasized that MSMEs form the backbone of the country and it continued support to the sector is imperative.

"I believe you will all agree with me that the MSME sector is the backbone of the Ghanaian Economy. Of the estimated 2.1 million businesses in the Ghanaian MSME sector today, about 1.7 million can be classified as mirco enterprises. These businesses employ roughly 2.5 million people (or 30% of all MSME employees) implying an average of 1.2 jobs created per micro enterprise. MSME also contribute over 75 per cent of Ghana's GDP," he emphasised.

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