Parliament has passed into law the Ghana Enterprises Agency Bill 2020 to allow for the establishment of the new agency to replace the National Board for Small Scale Industries (NBSSI).

The bill was passed under the certificate of urgency.

The new Ghana Enterprises Agency will oversee, coordinate and promote the development of Micro, Small, and Medium Scale Enterprises (MSMEs).

A fund will also be established to provide funding for the small and medium scale businesses.

Deputy Minister for Trade and Industry, Robert Ahomka Lindsay, says the agency will help accelerate provision of private jobs in the country.

According to him, “this agency, this new Ghana Enterprises Agency 2020 will be charged, first and foremost, with executing the micro, small and medium enterprises’ strategy. More of that will be said going forward by Minister, Honourable Alan Kyeremanten; I’m sure he will explain in greater detail what that is.”

He further explained that “to ensure that we execute our plans to ensure that our micro, small and medium industry is properly supported and encouraged to play their full role in the economy. When we say promote and support, it covers all aspects, it starts with a very simple yet important fact which is defining the fact that what is the small, what is the micro, what is the medium.”