The vehicle, called the Scorpion and designed by Russian tech company Hoversurf, relies on four propellers to stay airborne, with the rider crouched precariously close to the exposed blades. Capable of 40 mph and a travel time of 25 minutes, the single-seat craft, which can carry 600 lbs, can also operate autonomously.

Dubai Police are not alone in utilizing innovative flying vehicles. Companies around the world are coming up with new designs for vertical take-off and landing (VTOLs) aircraft.

After appearing at tech shows earlier this year, Dubai Police has decided to add one to its list of cutting-edge gadgets, all part of the force’s “smart city” plans.

According to the Facebook page of Hoversurf CEO Alexander Atamanov, the company has signed a memorandum of understanding with Dubai Police and has been invited to open mass production of the vehicle in the Dubai area.

Unveiled at Dubai’s Gitex Technology show, the Scorpion was presented alongside a new electric motorbike concept by Japanese firm Mikasa — firmly rooted to the ground, but with a top speed of 124 mph according to the police and looking like something out of the film “Tron.”

Watch the Dubai Police’s new Scorpion in action below, and scroll through the gallery above to discover more about the future of flying vehicles.

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“Some of these enterprises are very small , they are micro enterprises who do not bank a lot and therefore the small amount of money that are taken out of their account because the banks are charging them and pushing forward the VAT charges that government has imposed will deter some of them from banking,” Dr. Turkson explained.

The Ghana Revenue Authority (GRA) recently released a list of what they describe as non-core banking  services that would now attract the 17.5 VAT charge

The list released affects nearly all services banks offer.

Speaking on the Citi Breakfast Show, Dr. Turkson said it is inappropriate for government to label all banking services and ask bank customers to pay VAT on them.

“If there are special services that the banks are rendering hence the government wants them to pay taxes, government should concentrate on those ones and not label all banking services and ask bank customers to pay VAT on them,” Dr. Turkson insisted.

Speaking on some challenges facing SMEs in the country, Dr. Turkson said the lack of access to credit is a major problem for SMEs.

According to him, challenges facing the SMEs  have been aggravated by government’s decision to scrap them out of the credit market.

Citing other challenges , Dr. Turkson said most of the SMEs in the country do not have access to financing from banks because they lack the necessary requirements the respective banks demand.

“Some of the SME’s are not registered, they don’t keep records of accounts , they don’t have business addresses and these are the things that the banks will require if you need finance from them,” Dr. Turkson explained.

Asked why the micro finance institutions are not able to bridge the gap between the SMEs, Dr. Turkson said “these micro finance institutions intend to lend to the SMEs at very low rates but they cannot find the finance they need to propel them[SMEs] to those levels.”

In places such as Kenya, technology gives an opportunity for people to bank even if there is no access to a traditional bank.

Asked why technology and mobile banking is not bridging the gap in Ghana, Dr. Turkson said “to attract some of these interventions in this country, you need to create a very business friendly environment for those who have such resources to come and help but unfortunately, our business environment is not friendly.”

By: Marian Efe Ansah/citifmonline.com/Ghana
Follow @EfeAnsah

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According to him, the government must take the development of SMEs seriously rather than paying lip services to the industry.

“SMEs are the backbone of any economy anywhere in the world, so it is therefore very important that we help the SME’s to grow. About 80 to 90% of business organizations in any nation country including America are SMEs,” he said.

Mr. Aheto made this call when he addressed the Tema chapter of the Ghana Chamber of Commerce.

He said though SMEs are flexible, adaptable and can serve the needs of the middle and large organizations, access to financing is difficult.

Mr. Aheto explained that the SMEs do so much for the large organizations in order to add value to it but they are bedeviled with so much financial challenges saying, “they don’t have collateral for accessing funds; they don’t have a track record of five years or twenty years and they cannot afford the seasoned management team that the banks are looking for.”

According to him, there is the need for SME’s to position themselves well to be able to receive the necessary financial assistance because “no government can do enough as the demands are great.”

Micro, Small and Medium Enterprises in Ghana are said to be a characteristic feature of the production landscape and have been noted to provide about 85% of manufacturing employment of Ghana (Aryeetey, 2001).

SMEs are also believed to contribute about 70% to Ghana’s Gross Domestic Product (GDP) and account for about 92% of businesses in Ghana.

SMEs therefore have a crucial role to play in stimulating growth, generating employment and contributing to poverty alleviation, given their economic weight in African countries.

By: Afiba Anyanzua Anyanzu/citifmonline.com/Ghana

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