The government has pledged strong support for indigenous businesses through the upcoming Kwahu Business Forum, an initiative expected to benefit up to 600 enterprises by the end of President John Mahama’s four-year term.
Speaking to the media at the Jubilee House, Chief of Staff Julius Debrah said that the government is committed to empowering indigenous businesses, boosting the private sector, and encouraging entrepreneurship nationwide.
“We are talking about it at the presidency because of the importance the President attaches to it. It’s a project that he wants to see succeed,” he said.
The Kwahu Business Forum, which is set to take place this weekend, will bring together start-ups, SMEs, investors, and key industry players to connect, share ideas, and encourage investment in local businesses.
Mr Debrah announced that the African Development Bank, along with several top banks and financial institutions, will be participating. As part of their contribution, each bank is expected to adopt five bankable enterprises to support with resources and mentorship.
“The first strategy the bankers themselves gave us is that each of the banks that will show up is going to pick five bankable projects for this year. And they expect that next year, when we return to Kwahu, they will invite those five people they assisted to come and testify, ”he explained.
If the initiative continues annually as planned, Mr Debrah believes the long-term impact could be significant.
“If this continues for the next five years, each bank picking a minimum of five enterprises, I’m sure by the end of his four-year tenure, we’ll have over 600 enterprises that we can pinpoint and say these are things President Mahama started.”
While the forum is currently focused on Kwahu, the Chief of Staff said it has the potential to grow into a national platform that draws entrepreneurs and institutions from across Ghana.
“Even though the name is titled Kwahu Business Forum, I think going into the future, it could be national in character whereby business people will travel from all over the country to converge at Kwahu and to have interaction with bankers and public institutions,” he said.
He added that future editions of the forum could also include officials from public agencies like the Ghana Revenue Authority (GRA) to educate businesses on financial and regulatory matters.
“So, for example, it should be possible that somewhere along the line next year, they could have maybe the Commissioner General of GRA trying to explain to businesses the advantages they can have and things like that,” he said.
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