A golden moment for Ghanaian SMEs Deputy GEXIM CEO

The Government of Ghana through the Ministry of Finance on Tuesday July. 16, 2024, launched a ground breaking initiative which sought to assist Ghanaian Small and Medium-sized Enterprises to scale up and build their capacity to make them sustainable and compete favourably in the international marketplace.
It is dubbed the Small and Medium-sized Enterprise (SME) Growth & Opportunity Programme or SME GO Programme.
The event was launched by the President of the Republic of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo at the Kempinski Hotel Gold Coast City Accra and attended by all key and relevant stakeholders in the SME, Banking and Finance sectors.
On the sidelines of the event, the Deputy Chief Executive Officer of the Ghana Export – Import Bank, Ms. Rosemary Beryl Archer described the SME GO Programme, as a “Golden Moment” for Ghanaian SMEs and affiliated sectors.
Available data by the Ministry of Finance indicate that Ghanaian SMEs account for 92 percent of existing companies, 85 percent of manufacturing jobs and 70 percent of Gross Domestic Product (GDP).
Knowing its strategic importance to economic development, the Government is focused on developing a sustainable financing framework that allows for both public and private sectors to scale up financial and technical support towards Ghanaian SMEs.
In recent times, the world has experienced challenges and businesses were not spared. Unfortunately, SMEs are the hardest hit, with Ghanaian SMEs not an exception.
Government is determined to address these challenges, particularly access to financing, which have become inimical to advancing broad-based SME development.
Through the SME GO Programme, the Ministry of Finance aims to support the delivery of a robust SME financing programme that brings Ghana closer to its growth potential of approximately 5%.
The SME GO Programme offers targeted financial and technical support to high-growth potential SMEs to accelerate their growth by various interventions through short and medium term support through, including technical training and handholding support for beneficiaries, and optimizing public policies.
The financial support package, with flexible financing options, is to enable businesses to obtain the necessary resources to scale their operations effectively.
Three state agencies have been selected as strategic partners for the implementation of the programme which is to help the Government to create a lasting initiative and also develop a permanent infrastructure to support SMEs and ensure a sustainable impact on the ecosystem. They are the Ghana Export – Import Bank (GEXIM), Ghana Enterprises Agency (GEA) and the Development Bank of Ghana (DBG).
The Ghana Enterprises Agency is to work closely with SMEs to assess their financing and capacity building requirements and provide targeted support. Leveraging its expertise and network, the Ghana Export – Import Bank will facilitate access to financial and technical services to meet the diverse needs of export ready SMEs.
The Development Bank of Ghana is collaborating with the International Finance Corporation of the World Bank to work with participating financial institutions (PFIs) to launch a SME catalytic fund that will deliver larger multiples of finance required for SMEs to continue to scale their operations.
Technical assistance in the form of training and support is a key part of the SME GO Programme with the Ghana Export – Import Bank championing a collaboration with other agencies and stakeholders to set up an ultramodern Food Processing Pilot Plant in Accra, Ghana.
This will help enterprises with manufacturing solutions by testing their production and scaling up ideas in a standardized food processing pilot plant.
The financial and technical support to be provided to SMEs through the dedicated funds created by each institution under the SME GO Programme is the first step towards strengthening the SME ecosystem with the introduction of transformative measures.
In addition, regulatory and operational initiatives are being prepared to be enacted later when the immediate support required has been provided. The envisaged measures range from the creation of a one-stop-shop for SMEs to the design of business enclaves providing SMEs with fiscal incentives, financial resources and shared technology.
Ms. Archer concluded that it was her wish for Ghanaian SMEs across various sectors to prioritise value addition. A systematic approach to value chain development will result in the elimination of underlying causes of market underperformance, which is definitely going to be a game-changer.
“We now need to take a look at how our businesses can bring a product from the initial idea to its final market.Why should we strengthen the value chain across sectors? This definitely holds the key to increasing profits and productivity for SMEs, and making them sustainable by withstanding disruptions at all times. Ultimately, this will also lead to an increased contribution to socio-economic development of Ghanaian SMEs,” he added.

News
Avonsige: The intersection of fashion and culture

As I speak to Avonsige Ayinemi Augustina, the visionary CEO and Creative Director of AVONSIGE, she passionately shares her journey with me.
Her voice carries both confidence and warmth, mirroring the essence of her designs yet deeply rooted in culture.
“Fashion for me, is more than just clothing,” she told me. “It is a language, a way of expressing identity, and a bridge that connects our past, present, and future. Every piece I create tells a story, and that story begins with Ghana.”
Her love affair with fashion began as a teenager when she was captivated by an avant-garde show that left an indelible mark on her creative spirit.
“I knew then that I wanted to design unforgettable pieces of garments that leave an impact long after they are worn,” she added.
Encouraged by her supportive parents, she pursued visual arts and textiles, laying the foundation for AVONSIGE, a brand that has since become synonymous with elegance, cultural appreciation, and innovation.
She explains that, AVONSIGE is not just about garments, but rather a gateway into Ghanaian culture, with a signature aesthetic that merges pristine whites with rich indigenous textiles.
Again, she said that people have to see Ghanaian smock and kente, fabric and wear them with pride, knowing that each weave carries centuries of history.
She beams as she described her mission of creating a safe space to understand and appreciate the Ghanaian lifestyle and traditions as the country celebrate Ghanaian heritage month.
Fashion should be a conversation starter, a way to carry our history with us. When you wear AVONSIGE, you are not just wearing fabric; you are wearing the soul of Ghana.”
She paused, then added, “To know our attire is to know our worth.”
Avonsige takes immense pride in sourcing authentic fabrics from the Upper East Region of Ghana. “Our styles and textiles are deeply rooted in the craftsmanship of northern Ghana,” she told me. “From the intricate handwoven smocks to the vibrant kente, each fabric carries the legacy of our ancestors, and we ensure that authenticity is preserved in every piece,” she indicated.
Avonsige’s passion for storytelling is evident in every project she undertakes. “I wanted to push beyond the runway,” she said, eyes alight with excitement.
Her commitment to preserving Ghanaian narratives through fashion is unwavering. “Every stitch, every pattern has meaning,” she noted. “That’s the beauty of our craft – it is a living, breathing testament to who we are.”
Beyond luxury and aesthetics, AVONSIGE is deeply rooted in philanthropy. “Fashion should not only inspire but also uplift,” she tells me. Through her annual initiative, AVONSIGE Runway for a Cause, she recreated original designs into Christmas outfits for orphans and underprivileged children in northern Ghana.

“This is something very close to my heart,” she said with a softening voice. “It is my way of giving back, of ensuring that every child feels valued and beautiful.”
As our conversation draws to a close, Avonsige leaves me with a profound thought: “Fashion is not just about what we wear – it is about the stories we carry, the heritage we embrace, and the future we envision.”
Through her passion, creativity, and unwavering dedication, Avonsige Ayinemi Augustina has turned AVONSIGE into more than just a brand. It is a movement, a celebration of culture, elegance, and purpose.
Join her on this extraordinary journey where fashion is more than a trend, it is a lifestyle, a cultural bridge, and a force for change.
By Geoffrey Buta
Relationship
Tips to creating a healthy habit
Make a plan
When you commit to taking up a new habit, it is essential to have a clear plan of action before you begin. Start with a long-term goal and keep it S.M.A.R.T: S- Specific M- Measurable A- Achievable R-Relevant and T- Timely
Habit Stacking
Habit Stacking is exactly what it sounds like: putting two or more habits together. We recommend choosing times of the day when routines are strongest. For most people, this is usually the morning or before bed. We know day-to-day life can get a little crazy, but there are certain times when patterns are created, making them the perfect place for a positive change.
The best way to form a new habit is to tie it in with an existing one.
Baby steps
Many experts agree that significant changes require high motivation levels, which can be hard to sustain. Instead, you should start with a slight change that will eventually lead to something bigger.
You can transition to something bigger once you have successfully implemented daily habits for a designated amount of time.
Consistency
Consistency is key. To make something a habit, you need to do it every day. We have all heard the magic ‘21 day’ fix, but the fact of the matter is, it’s not one size fits all.
Celebrate success
Perhaps the most important part of habit-making is rewarding yourself. We know habits take time, but in order to not give up, you need to celebrate every win.
Find the thing you love and allow yourself to experience it once you’ve hit a milestone on your habit-forming journey. Sometimes, the results of habits are not immediately apparent. Do not give up!