A Former Vice Chancellor of the University of Ghana, Emeritus Ernest Aryeetey, has called for a holistic strategy to addressing the challenges facing Small and Medium-scale Enterprises (SMEs) in order to promote their growth.
According to him, finance was not the only challenge militating against the growth of SMEs, and the government must come out with broad-based initiatives to address the numerous factors limiting the growth of SMEs.
Speaking at the second edition of the Quarterly Economic Roundtable (QER) in Accra yesterday, Emeritus Professor Aryeetey said lack of innovation, poor infrastructure, high taxation, laborious regulatory processes and poor management structures were some of the other challenges facing SMEs.
Organised by the Ministry of Finance (MoF) in collaboration with the Institute of Social Statistics and Economic Research (ISSER) of the University of Ghana and the International Financial Corporation (IFC).