Local printers are calling for funding from banks and other financial institutions to enable them to invest in new technologies to improve the quality of their work.

A recent research by imaging solutions firm, Canon identified the great market potential for local printing industries in Ghana. 

It projects the industry to grow tremendously in the next three to five years. 

However, some local printers who have been speaking to Joy Business say they can fully tap into the market if they are able to secure funding for equipment that would enable them to match up with their foreign counterparts.

"The financial institutions are not helping us that much as they don't have the trust in us, especially the Micro-finance companies. When you need a little money to undertake a contract, they would frustrate by demanding lots of documents. After submitting all those documents, they deny you," one of the printing press owners told JOYBUSINESS.   

He added that these institutions forget that the little companies will grow to become the multi-million companies.

"If they are not willing to work with us now they should forget about forcing us to bank with them when we become big," he said.

Another printing press owner told JOYBUSINESS finance is a big challenge to them as moving from an offset printing to machine printing is a huge investment as the machines are expensive.

Local printing companies want funding to invest in new technologies

Photo: Marketing Officer for Cannon Middle East, Ayman Ali

"To acquire them you would need financial options in the forms of a loan, mortgage or hire purchase et al. so they should make these facilities more flexible and accessible for us. 

"Sometimes the requirements are too much that by the time you finish submitting your documents you would be frustrated and wasted a lot of time," he added.

The local printers were among 22 SME-sized printing companies who graduated from the Professional Printing Excellence programme jointly held by, imaging solutions firm Canon and Invest in Africa, a cross partnership of companies with the vision to create thriving African economies.

Local printing companies want funding to invest in new technologies

Photo: Country Manager of Invest in Africa, Sam Brandful 

The nine-month training programme was aimed at improving the commercial and technical skills to enable them run a large volume of business and deliver world-class printing products and services.

“We want to help fill the current gaps in the Ghanaian printing industry”, Ayman Ali, Marketing Officer for Cannon Middle East said while explaining his companies interest in training local printers.

On his part, Country Manager of Invest in Africa, Sam Brandful was hopeful the training would yield a positive impact in the local printing industry.

The SMEs were selected through Invest In Africa’s Africa Partner Pool, Ghana’s first cross-sector online business platform, connecting larger Ghanaian and international companies to small businesses.