14.03.2005 Business & Finance

INDUTECH 2005 ends

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Accra, March 14, GNA - The Association of Ghana Industries (AGI) is to establish an industrial bank to support its members to access credit and attract more interest in industrial development.

Mr. Prince Kofi Kludjeson, President of the AGI, who announced this at the official closing of INDUTECH 2005 in Accra on Monday, said most Small, Medium Enterprises (SMEs) were currently unable to access credit at the current high interest rate for their businesses.

The 12-day exhibition on the theme: "Transforming Ghana's Industrial Sector through Information and Communication Technology (ICT)," was opened on March 3, by the Vice-President Aliu Mahama. Mr. Kludjeson said currently preliminary discussions were going on between AGI and the Amalgamated Bank to put together a programme of support for AGI members.

He appealed to government to take a closer look at the needs of SMEs and ensure that they were met to give a fuller meaning to the President's declared "Golden Age of Business".

Nana Akuamoa Boateng III, National Planning Chairman of the exhibition called for good infrastructure if subsequent fairs were to live up to the standards befitting Ghana as a gateway to West Africa. He said fairs were primarily meant to promote products and services as a long-term marketing tool and not a selling point for their products.

The Acting Deputy Minister, Kwadwo Afram-Asiedu, said it was important industrialists apply technology to reduce cost. There were awards for innovative local exhibits, outstanding research exhibit, technological exhibit and ICT.

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