Audio By Carbonatix
A 15-member trade delegation from the United States is in the country to explore investment and trade partnerships with small and medium-scale enterprises (SMEs).
Areas of interest to the delegation include energy, education, health-care, construction, waste-management, tourism and training.
The Founder and Head of the (AU) Diaspora African Forum Mission, Dr. Erieka Bennett who received the delegation, said the visit is to encourage Diaspora participation and investment in Africa to assist
SMEs grow.
“SMEs in the country will benefit and grow if they team-up with their counterparts from the United States. They will then be able to bid for bigger contracts and expand their businesses to the US.
“The mission is to provide a safe landing for businesses in the Diaspora willing to partner local companies. Local companies looking for partnership with US-based companies can also link-up through The (AU) DAF Mission.”
Mr. Eric A. Sheppard, President and CEO of Diversity Restoration Solutions Inc., who led the delegation said: “The global economic downturn has shown that it is important for us to come back and establish sustained business partnerships with local companies.”
The visit was facilitated by The (AU) DAF Mission. The mission is an African Union-endorsed non-governmental organisation that was established about four years ago to invite and encourage the full participation of Africans living in the Diaspora who yearn to be part of their roots and are willing to contribute their time, financial resources, expertise, skills and energies in the building of a better Africa.
Recent studies have shown that SMEs, which form the backbone of Ghana’s economy, face many constraints and only a few of them are competitive in today’s globalised business environment
Available data on the manufacturing industry in the country show that 96 percent of companies in the sector are SMEs and micro-businesses; and it is assumed that the share of SMEs in the service and construction sectors are equally high, but low for the mining and utilities sectors.
Of the 725,000 employed workers in the manufacturing, industry and the services sectors, about 460,000 are engaged in the SME sector -- and with a growth-rate of 10 percent, the SME sector is estimated to generate 45,000 new jobs annually.
Numerous challenges have been cited as hindering the competitiveness of the sector, including difficulties in accessing land, new technologies, information, and adequate and affordable capital, as well as constraints of competition and high level bureaucracy, competition from imported products, inadequate management skills, regulatory constraints, and cost of licences among others.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
‘I am not a magician’ – Zdravko Logarušić on Nations FC exit from Africa
1 minute -
Three nights. 28 titles. Ultimate history made
12 minutes -
Ghanaian delegates at IYF 2026 could become bridges for stronger Russia ties – John Aggrey
16 minutes -
Nigeria: Over 30 dead, 50 hospitalised after consuming alcoholic substance in Ondo State
19 minutes -
UK lawmakers demand new law to address AI threat to human rights
28 minutes -
WAFU B U-17 Girls Cup: Black Maidens depart Accra for tournament in Yamoussokro
28 minutes -
Sweden’s center-left bloc narrowly ahead as election remains too close to call
38 minutes -
GPL 2026/27: ‘We won ugly’ – Kotoko head coach unimpressed after Lions victory
41 minutes -
7 out of 10 human trafficking cases in Ghana never reach prosecution — JoyNews Research
57 minutes -
Music, football to converge at Music Meets Football Summit 2026 in Lusaka
1 hour -
Putin invites young global leaders to partner with Russia in shaping future world order
1 hour -
Putin calls for ‘just world’, says every nation must be free to choose its own path
1 hour -
IFY 2026 food festival to serve 20,000 meals showcasing global cuisines in Russia
1 hour -
Ghana has a Domestic Violence Act: But can a victim afford to use it?
1 hour -
Young artists from 100 countries showcase works at IFY 2026 in Russia
1 hour