GIZ, EU build capacities of MSMEs in Ashanti
In the face of the global economic downturn, the German Development Corporation (GIZ) and the European Union have teamed up to empower Micro, Small and Medium Enterprises (MSMEs) to become the backbone of economic recovery.
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As a first step, the team organized a "transformative regional network conference" in the Ashanti region to boost economic growth and job creation. This conference is one of a series of programs designed to build the capacity of MSMEs and provide support for their "smooth take-off."
The conference was held under the auspices of the Fabulous Woman Network, which operates "Fabhub Ashanti." The theme of the three-day event was "Sustainable solutions for MSMEs growth and employment; Transformative potential of regional union (Network) of service providers."
Networking and knowledge sharing
Among other goals, the conference aimed to create an annual forum for knowledge sharing to bridge the gap between the supply and demand sides of the MSME and employment generation ecosystem. It also sought to create an environment where businesses and job seekers could easily connect.
Collaboration is key
The head of programs at GIZ, Dr. Christian Jan, emphasized that building a network dedicated to supporting MSMEs is essential to unlocking their full potential. He explained that this will help address critical aspects of Ghana's economic landscape and provide sustainable solutions for MSME growth and employment creation.
Dr. Jan believes that exploring the pivotal role that the Union Service Providers can play in fostering sustainable development and prosperity for Ghanaian businesses is crucial. "Enterprises face formidable challenges including limited resources, access to markets, and the ability to navigate a complex regulatory environment," he said. "This program will help foster collaboration, share knowledge, and also help service providers and stakeholders become catalysts for change and sustainable development."
Dr. Jan also highlighted the need for MSMEs to embrace technology and innovative ideas to improve productivity.
Accessing larger markets
In an interview with the Daily Graphic, Dr. Jan stated that creating avenues for MSMEs to access larger markets is critical for sustained growth. He urged the Union Service Providers to establish a platform for networking, collaboration, and partnership to connect enterprises with potential clients, suppliers, and investors.
"I believe this will strengthen the entire ecosystem to promote employment, especially among the youth, women, and the vulnerable," he added.
Opportunities for growth
The Ashanti regional Economic Planning Officer at the Regional Coordinating Council (RCC), Madam Beatrice Kwarteng Osei Asare, expressed her belief that the initiative has the potential to connect state actors, private sectors, investment communities, and other stakeholders. This can lead to exploring opportunities that will create openings for increased investments.
She highlighted that the RCC, in collaboration with key government institutions, has supported MSMEs in association with other international organizations. "This network will grow the relationship between private and public sector organizations to intensify cooperation in stature and confidence, especially for MSMEs. It will also enhance access to finance, market intelligence, and create a unified voice for advocacy and policy influence," Madam Osei Asare added.
The Founder of Fabulous Woman Network, Ama Duncun, expressed her excitement about the opportunity for all the hubs to support GIZ. She stated that it was a dream come true to be able to expand its network and bring together job seekers and entrepreneurs.
Commendation for the initiative
The Chief of Atwima Wiawso, Nana Kwakwa Bene Ababio, commended stakeholders for the initiative and expressed hope that the union will continue to thrive and contribute to economic growth.