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April 6, 2026
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Financial Institutions must back local enterprises to spur growth – Deputy Minority Whip
Money
Policy
Opportunity
Growth
Key Points
- Deputy Minority Whip Jerry Ahmed Shaib urged financial institutions to proactively support local businesses for job creation and economic growth.
- Speaking at the Kwahu Business Festival, he underscored the financial sector's critical role in nurturing indigenous enterprises.
- Shaib called for financial institutions to rethink their lending approach, particularly for small and medium-sized enterprises (SMEs) led by young Ghanaian entrepreneurs.
- He stressed the need for tailored financial products and solutions to bridge the gap between access to finance and entrepreneurial potential.
- The aim is to cultivate sustainable, innovative industries grounded in local realities to transform the economy and make local enterprises key drivers of job creation.
Why This Matters
This matters for Ghana as it addresses a fundamental barrier to economic development: the lack of adequate financial support for local businesses, especially SMEs and youth-led ventures. Bridging this gap is crucial for unlocking entrepreneurial potential, stimulating job creation, and achieving sustainable economic growth, which are vital for the nation's prosperity and stability.
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