Alhaji Yusif Ibrahim, executive chairman of Dar-es- Salaam Group of Companies has said the increase of micro-finance to Small and Medium Scale Enterprises (SMEs) was a landmark in the promotion of industrial growth.

He said Government's commitment to support the growth of the SMEs was therefore in the right direction and must continue in order to enhance economic progress.

Interacting with the media in Accra, Alhaji Ibrahim, who was decorated with Companion of the Order of the Volta at the recent State Awards ceremony, commended Government, his family and staff for supporting him to attain the honour.

Sharing his experience in business, he said perseverance, dedication and hard work were key factors to achieve success in all endeavors.

"Whatever your position in life, always have a vision and never lose hope."

He said the award, which came as a surprise to him, had encouraged him to work harder to contribute to economic development, since he had never anticipated that his work had received recognition by Government.

Alhaji Ibrahim, a native of Kumasi Zongo, was the first to introduce Phoenix bicycles and has investment in transport, real estates, insurance, manufacturing and gold mining sectors.

He is also the Chairman of Guaranty Bank, Chairman of the University of Development Studies Committee on President's Special Initiatives, Chairman of the Junior Achievers Programme Governing Board and Trustee of the Institute for Social, Statistical and Economic Research, University of Ghana, Legon.

Source: GNA