Strong Small and Medium Enterprises (SMEs) are more important for sustainable economic growth than big multinationals, according to Stephen Blewett, CEO of MTN Ghana.
Speaking at the launch of MTN Ghana SME Accelerate, a year-long program designed to empower SMEs nationwide through digital transformation and business support solutions, the CEO pointed out that although SMEs make up the majority of employment and business activity in Ghana, structural issues prevent them from operating at their maximum productivity potential.
Limited size, fragmented markets, unofficial business structures, restricted access to money, and uneven digital adoption are some of these issues, he claims.
He stated, “To accelerate national growth, we must address the structural barriers that limit SME’s progress.”
He explained that businesses that are not financially integrated, digitally visible, or complying with standards may find it difficult to take part in increasingly interconnected global value chains.
According to Mr. Blewett, the SME Accelerator program seeks to assist companies in integrating into national, regional, and international value chains, moving from manual to digital processes, and transitioning from unstructured to organised firms.
“As a technology and fintech platform operating on a national scale, we sit at the intersection of connectivity, financial services and data infrastructure on one hand and enterprise enablement on the other,” he stated.
During her remarks, MTN Ghana’s Chief Enterprise Business Officer, Angela Mensah-Poku, reaffirmed the company’s dedication to closing the digital gap and assisting SMEs, which are the foundation of Ghana’s economy.
“SMEs are the lifeblood of this nation and the economy, and we are dedicated to celebrating, recognizing, training, and building with them,” Mensah-Poku stated.
She went on to say that as SMEs make up around 80% of Ghana’s economy, their development is essential to the country’s progress, and the program is a part of MTN’s larger goal to enhance the SME ecosystem and drive economic growth in Ghana.
While praising MTN Ghana for the initiative, the CEO of Ghana Enterprises Agency pointed out that SMEs continue to be the nation’s main employers and innovators.
“When SMEs grow, they create ripple effects across supply chains, families and communities, underscoring the importance of programmes that provide entrepreneurs with access to knowledge, mentorship and networks,” she emphasised.
George Opare Addo, the Minister of Youth and Sports, also emphasised the need for platforms that assist youth-led firms and the rising entrepreneurial aspirations of young Ghanaians.
He told the tale of a young woman from the Oti Region who declared her desire to start a factory instead of looking for a desk job after learning how to solar-dry ginger using mobile technology.
“That statement captures the spirit of the Ghanaian youth – bold, ambitious and innovative,” he remarked.
The minister states that the government is still dedicated to helping young people realise their entrepreneurial potential through focused programs that promote skill development and job creation.
Approximately 10,000 young entrepreneurs are presently the focus of programs that assist youth enterprise, he added, with plans to increase support to even more beneficiaries through partnerships with the private sector.
Additionally, he mentioned that the government’s National Apprenticeship Program aims to give young people useful skills so they can start their own businesses and have successful jobs.
Mr. Opare Addo underlined the value of collaborations between the public and private sectors, pointing out that although the government can supply frameworks for policies and infrastructure, enterprise and innovation are ultimately driven by the private sector.
“To the leadership of MTN Ghana, when you expand network coverage or develop digital tools for businesses, you are doing far more than selling connectivity, you are enabling innovation, expanding markets and empowering entrepreneurs,” he stated.
He also urged business owners to put quality, creativity, and teamwork first while concentrating on growing their companies rather than just surviving.
“Build brands that can compete beyond the shores of Ghana and place the ‘Made in Ghana’ label on global shelves,” he urged.
Source: newsthemegh.com