The Association of Ghana Industries (AGI)’s strategic partnership with the Savannah Accelerated Development Authority (SADA) is far advanced with its plan to establish an industrial bank in Ghana.
This is intended to satisfy the financial needs of Small and Medium Enterprises (SMEs) within the savanna ecological zone.
Speaking at the AGI’s 2016 Annual General Meeting in Tamale, Chairman of the Northern Regional chapter, Osman Sahanoon Kulandi renewed the two institutions commitment to boost SMEs in the SADA zone.
This agenda, he explained would focus on projects and programmes relevant to the private sector operating within the savannah ecological zone.
Osman Kulandi said the partnership would strengthen the private sector and by extension address the bottleneck to the area’s developmental goals attainment.
He stated that the AGI-SADA partnership would serve as a catalyst to awareness creation on the pros and cons of collaborative projects and programmes in the SADA zone.
A representative of the SADA Chief Executive Officer, Francis Ashong-Katai disclosed SADA’s survey on businesses operating in the zone.
He anticipated that the findings would reposition SADA to engage with key policy makers whose input could help address some of the identified challenges.
As SADA’S Coordinator of Private Sector and Investment, Ashong-Katai said the authority is to engage entrepreneurs within the Savannah Ecological zone to brainstorm on key issues of mutual concern.
President of the Association of Ghana Industries, James Asare-Adjei in a speech read on his behalf outlined challenges associated with SMEs and cited accessibility to credit facilities as a major one.
He bemoaned the high interest rates, deplorable road network and the difficulty in securing business operational permits among others.
James Asare-Adjei thereby appealed to loans lending financial institutions to reduce their interest rates.
This in his estimation will enable trustworthy Small and Medium Enterprises easily have access to loan facilities.
“This is a sure way of helping our local industries to be more competitive. I also wish to appeal to our development partners and the numerous NGOs in this region to partner and collaborate with AGI in moving forward its industrial and development agenda.”
The Northern Regional chapter of the AGI’s Annual General Meeting evaluated its achievements and challenges.
It also offered the participants the opportunity to re-strategise going forward.
The AGI is a voluntary business association with over 1,200 members comprising Small, Medium and Large scale manufacturing and services industries in agro-processing, agri-business, pharmaceuticals, electronics and electrical, telecommunications, information technology, transport, construction, textiles, garments and leather, banking and advertising.
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By: Abdul Karim Naatogmah/citifmonline.com/Ghana