By Michael Foli Jackidy
Ho (V/R), Oct. 22, GNA – The Association of Ghana Industries (AGI) has called for targeted interventions to support Small and Medium-sized Enterprises (SMEs) to expand their operations, create jobs and drive sustainable economic growth.
Mr Seth Twum-Akwaboah, the Chief Executive Officer of the AGI, said although Ghana had recorded improvements in macroeconomic stability, greater efforts were needed to translate the gains into business growth, industrial expansion and employment creation.
He made the call at the 2026 Regional Annual General Meeting of the AGI for the Eastern, Volta and Oti Regions, in Ho on Thursday.
The meeting was held on the theme: “From Stability to Growth: SME Growth as a Catalyst for Economic Transformation.”
Mr Twum-Akwaboah said the AGI Business Barometer, a quarterly survey assessing business confidence and perceptions of the business environment, had shown positive trends over the past three quarters.
He said businesses had acknowledged improved stability in the economic environment, which was essential for planning, investment and expansion.
However, he said the next priority was to ensure that the stability was translated into increased production, business expansion and job creation.
Mr Twum-Akwaboah said the development of SMEs was crucial to achieving that objective, urging the government to implement targeted interventions to help businesses overcome operational challenges and become more competitive.
He said the AGI supported the government’s 24-hour economy initiative but stressed that industries needed reliable markets to operate multiple shifts and sustain round-the-clock production.
“For businesses to operate on a 24-hour basis, they must have markets for their products,” he said, adding that locally manufactured goods must be competitively priced to withstand competition from imports.
He identified the cost of electricity, access to affordable financing and operational expenses as some of the major factors affecting the competitiveness of local industries.
The AGI Chief Executive Officer said the Association was collaborating with the government to identify businesses with the potential to expand, determine the specific support they required and help them access markets to increase production.
He said such interventions would enable businesses to grow, attract further investment and create more employment opportunities.
Mr James Gunu, the Volta Regional Minister, in a speech read on his behalf by Mr Delali Kwami Amevor, Assistant Director at the Volta Regional Co-ordinating Council (VRCC), reaffirmed the government’s commitment to strengthening collaboration with the private sector to promote regional economic development.
He said the Volta Region had considerable economic potential in agriculture, tourism, human capital and emerging investment opportunities, which could provide a strong foundation for industrial growth and enterprise development.
He, however, said that potential needed to be supported by an enabling business environment, improved infrastructure, access to finance, skills development, technology adoption and reliable market access.
Mr Gunu encouraged the AGI to deepen its engagement with public institutions and continue advocating practical solutions to challenges confronting businesses.
He also urged enterprises to invest in value addition, agro-processing, manufacturing, tourism-related businesses and modern technologies to strengthen local supply chains and retain more economic value within communities.
He said industrial players must prioritise skills development, innovation, quality production and environmental sustainability to ensure that economic growth creates inclusive opportunities, particularly for young people.
Mr Dela Gbeve, Regional Chairman of the AGI for the Eastern, Volta and Oti regions, said the meeting provided an opportunity to assess the Association’s performance, discuss challenges confronting businesses and identify strategies to strengthen the industrial sector.
He said SMEs played a vital role in employment creation, entrepreneurship, local industrial development and improved livelihoods, but required innovation, sound financial management, technology and effective business practices to grow.
Mr Gbeve said the Association had undertaken several initiatives to support business development, including SME capacity-building programmes, engagement on the 24-hour economy and collaboration with strategic institutions.
He said engagements with the Namibian High Commissioner had opened opportunities for industrial partnerships, trade and investment, while the Association’s involvement in the Eastern Expo 2026 and the 7th Volta Trade and Investment Fair was expected to improve business visibility and promote investment.
He also highlighted plans to establish a permanent AGI office complex and SME incubation hub to provide mentorship, capacity-building and other support services for businesses.
Mr Gbeve called on government institutions, financial institutions and development partners to strengthen collaboration with the Association to address the challenges facing SMEs.
The meeting brought together AGI members, heads of departments and institutions, academics and other stakeholders to deliberate on strategies to promote industrial growth and economic transformation across the three regions.
GNA
Edited by Maxwell Awumah/Benjamin Mensah