EDC Urges Financial Institutions to Assist GhSMEs with Aspirations for the oil & Gas Sector Businesses 

Enterprise Development Centre, (EDC) has organised a seminar for Financial Institutions in Ghana and to exposed them to capacity building and business development intervention programmes being offered to the  Ghanaian Small and Medium Enterprises (GhSMEs) to mitigate the risks.


According to EDC, access to finance is one main challenge that GhSMEs are confronted with because of the perceived risks associated with SMEs for which reason Financial Institutions are reluctant in extending credit facilities to them.

This was contained in a statement copied to the Ghana Broadcasting Corporation (GBC) in Accra.

The statement issued by Enterprise Development Centre (EDC) says the discovery of oil in Ghana in 2007 and its production in 2010 brought up numerous business opportunities including Catering, Janitorial services, Fabrication and construction, Cleaning services, Exploration and subsurface engineering, Materials and procurement, Well drilling services, Research and development, Transportation, supply and disposal, Health safety and environmental services, Accommodation and so many more



Below is the Statement:

EDC URGES FINANCIAL INSTITUTIONS TO ASSIST GHANAIAN SMALL AND MEDIUM ENTERPRISES WITH ASPIRATIONS FOR THE OIL AND GAS SECTOR BUSINESSES

The discovery of oil in Ghana in 2007 and its production in 2010 brought up numerous business opportunities including:
 Catering
 Janitorial services
 Fabrication and construction
 Cleaning services
 Exploration and subsurface engineering
 Materials and procurement
 Well drilling services
 Research and development
 Transportation, supply and disposal
 Health safety and environmental services
 Accommodation and so many more

To assist Ghanaian businesses take advantage of this opportunity and as part of the national local content aspirations, the Government of Ghana on 15th May 2013 inaugurated the Enterprise Development Centre (EDC) in Takoradi to provide support currently at no cost to indigenous Ghanaian Small and Medium Enterprises (GhSMEs) in the form of capacity building and other business development services. 

Access to finance is one other challenge GhSMEs are confronted with because of the perceived risks associated with SMEs for which reason Financial Institutions are reluctant in extending credit facilities to them. 

Thus on 19th August 2014 the EDC organised a seminar for Financial Institutions in Ghana and exposed them to capacity building and business development intervention programmes being offered to the GhSMEs to mitigate the risks. The seminar concluded with invitation to the Financial Institutions to do business with the GhSMEs.

In attendance to grace the occasion were the Deputy Minister of Energy and Petroleum Hon. John AbdulaiJinapor, Chief Director of the Ministry of Energy and Petroleum, Professor Thomas Akabzaa, Director of Special Services of thePetroleum Commission, Mr. KwekuBoateng, SMEs Project Coordinator at the Ministry of Energy and Petroleum, TumvoleKaku Aka III.


GBC