Ghanaian entrepreneurs commend GEPA for facilitating IATF 2023 participationPresident Ruto To Kenyans: Embrace Saving Culture

Entrepreneurs who participated in the recent Intra African Trade Fair 2023 (IATF 2023) in Cairo Egypt have lauded the efforts by the Ghana Export Promotion Authority (GEPA) to develop small medium entrepreneurs in the country. They commended GEPA's sustained efforts at developing not only the capacities of Ghanaian entrepreneurs but providing markets for their products. The fair attended by about 70 Ghanaian SMEs, was organised by the African Export-Import Bank, in collaboration with the African Union and the AfCTFA Secretariat is the third of its kind in Africa. It brought together businesses from across Africa under the theme: 'Building Bridges for a Successful AfCFTA.' In attendance were heads of state, former heads of state, senior government officials, continental and global African businesses. The fair run was from November 9 to 15, 2023. Speaking to the media on arrival, Mrs Jaqueline Ruby Sackitey, Managing Director of JACQUIS, manufacturers of Jacquis Peanut Butter, one of the SMEs selected to participate, commended GEPA for providing SMEs such an opportunity to show the entrepreneurial skills and capacity of women and women groups in Ghana and to export to the world. 'My expectation is that SME's going forward would get the right partnerships locally to boost production for the global market. Ghana has great products that we can share with the world and we need massive support to execute this,' she said. 'Jacquis Peanut Butter, one of Ghana's quality hand-picked peanut butter, is certified by the Food and Drugs Authority, and it is currently lining the shelves of major supermarket shelves in the country, ' she stated. Mrs Sackitey, who is also the Vice President of the Africa Women's Entrepreneurship Programme (AWEP), noted the importance of intra-African trade, saying that it was the breakthrough point for small medium enterprises and urged African governments and organisations to ease movement of goods on the continent. They should also eliminate double certifications and documentation of pr oducts when moving goods and products across the continent. Intra-Africa trade stands rather low at a mere 14.4 per cent of total African exports. It is expected that AfCFTA would catapult intra-African trade by a decent 33 per cent and cut the Africa's trade deficit by 51 per cent. The fair aimed providing trade and market information and connect buyers and sellers from across the continent. The IATF is a platform connecting African markets and promotes intra-African trade. It has lined up trade and investment forums, high-level dialogues on medium size enterprises, implementation and domestication of the African Commodity Strategy and a high-point of an African Automotive Forum. Source: Ghana News Agency President William Ruto has reiterated the government's commitment to uplift the standards of living of the citizenry through the Hustler Fund, which has seen millions of Kenyans improve their businesses and livelihoods. Ruto said the government has provided Kenyans with the Hustler Fund project, an opportunity that can be used by individuals and groups to take out loans for doing business at a lower interest rate. 'The fund started with Sh12 billion, and we are ready to spend Sh50 billion to ensure Kenyans have a product to borrow from,' said the president, adding the fund is servicing itself and is self-sustaining because borrowers have been repaying. He said those saving with the Hustler Fund will be given an interest rate of 12 per cent that will be paid annually on December 31st, starting this year in 2023. The President was speaking today during the first anniversary celebrations for the Hustler Fund that was held at Green Park in Nairobi, which was also attended by Deputy President Rigathi Gachagua and several senior government officials. He noted that more than seven million people who had been condemned by the Credit Rating Bureau were given an opportunity to borrow from the fund and have repaid their credit, adding that currently, 2.2 million people who have repaid their credits are now running their businesses. Ruto announced at the same time that boda boda riders and mama mboga, who are in groups comprising 30 to 50 members, will now be allowed to borrow from Sh200, 000 to Sh1 million, but only after vetting. He said the government has increased the limit of borrowing owing to the demand by Kenyans who want to borrow more and urged all Kenyans to embrace the culture of saving. The president said the housing project has also created job opportunities for several people, among them engineers, architects, jua kali artisans, masons, plumbers, accountants, electricians, those working in quarries, and the transport sector, among others. 'We are expanding opportunities for online digital jobs and the export of labour as we want Kenyans to be self-reliant and to move the country forward,' he added. He said the government has improved the country's economy and will start repaying all its debts by December this year in order to put Kenya on a sound economic footing and trajectory. 'We will solve the problem of cost of living as the interventions made to address the issue have started to bear fruit. We also reduced the price of fertiliser from Sh7000 to Sh2500,' he stated. The president said farmers are hardworking and are on the way to consolidating the country's food security so that the nation does not suffer the shame of hunger. Source: Kenya News Agency