{"id":191016,"date":"2024-06-19T17:34:48","date_gmt":"2024-06-19T17:34:48","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/19\/collaboration-among-players-key-to-financing-smes-speakers\/"},"modified":"2024-06-19T17:34:48","modified_gmt":"2024-06-19T17:34:48","slug":"collaboration-among-players-key-to-financing-smes-speakers","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/19\/collaboration-among-players-key-to-financing-smes-speakers\/","title":{"rendered":"Collaboration among players key to financing SMEs \u2014 Speakers \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Industry players in technology, financial and entrepreneurial sector have called for collaboration to provide risk-free credits to Small and Medium Enterprises(SMEs).<\/strong><\/p>\n<p>They also advocated for a financial and digital literacy programs for these SMEs to understand and appreciate innovative ways of growing their businesses.<\/p>\n<p>\u201cChallenges we face as SMEs in Ghana is the fact that lenders see it as risky to lend to us , they see it as a challenge but we are big players in the job sector,\u201d Mr \u00a0Kwame Anim Somuah , president of the Greater Accra Poultry Farmers stated as a member of the discussion panel on the topic : Bridging the credit risk gap for SMEs in Ghana, at the MTN organised Business Executive Breakfast Series held \u00a0at the Labadi Beach Hotel in Accra yesterday.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Risk reduction<\/strong><\/h2>\n<p>Another member of the discussion panel , Mrs Kosi Yankey-Ayeh , the Chief Executive Officer of the Ghana Enterprise Agency noted that her outfit has resolved to provide financing to SMEs but face the challenge of uncertainty of identifying the right causes these SMEs must \u00a0take to grow their businesses.<\/p>\n<p>\u201cThe challenge here is that these SMEs are highly informal but are 70 percent of the nation\u2019s workforce, however they don\u2019t exactly know what they want, there the need for collaboration to from fintechs, financial institutions and relevant industry to organise clinics for these enterprise to realise their needs,\u201d she noted.<\/p>\n<p>She called on stakeholders to collaborate and help these SMEs to plan and with financial agencies to provide rich financial support for them.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Embracing AI and technology<\/strong><\/h2>\n<p>The CEO of MTN Mobile Money Services, Mr Shaibu Haruna charged SMEs to embrace advanved technological and Artificial Intellectual (AI) to facilitate their inclusion into the financial ecosystem.<\/p>\n<p>\u201cWith AI and advance technology we are able to profile customers and design solutions for their needs;these digital foot prints if well embraced will address the risks inhibiting the provision of financing for SMEs and allow credits to this enterprise,\u201d he stated.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Standards and digitization\u00a0<\/strong><\/h2>\n<p>The Chief Enterprise Business Officer , Angela Mensah Poku charged industry players to push standard, digitization and empower as the core in improving the lot of the SMEs.<\/p>\n<p>She revealed that her outfit will soon introduce innovative ways to support SMEs to fully rich the potential and access financial credits from financial institutions.<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Industry players in technology, financial and entrepreneurial sector have called for collaboration to provide risk-free credits to Small and Medium Enterprises(SMEs). They also advocated for a financial and digital literacy programs for these SMEs to understand and appreciate innovative ways of growing their businesses. \u201cChallenges we face as SMEs in Ghana is the fact that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":191017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-191016","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Collaboration among players key to financing SMEs \u2014 Speakers \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/19\/collaboration-among-players-key-to-financing-smes-speakers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Collaboration among players key to financing SMEs \u2014 Speakers \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Industry players in technology, financial and entrepreneurial sector have called for collaboration to provide risk-free credits to Small and Medium Enterprises(SMEs). 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