CORPORATE GOVERNANCE
settlement of account.”
SMEs
31. No information is available from the CSAR on the size of the SME sector. However,
the focus on the industrial development in Ghana has highlighted the important role
played by small-scale enterprises in the economy. Parliamentary Act 434 of 1985
established the National Board for Small-Scale Industries in Ghana, which is an apex
body for the development of micro- and small-scale enterprises. The government
provides funding and training to the SME sector. There have been pilot SME projects in
sericulture, night schools for apprentices, coconut products development, adhesives,
stone slicing, fruit wines, vegetable processing, indigenous products and small-scale
yarn production. Funding is sourced from the government in collaboration with NGOs,
banks and credit unions.
6 Divestiture of State Interests (Implementation) Law 1993 (PNDCL 326), Section 3 (2)
(c).
Box 4.2: Support for SMEs in Ghana
Government funding of SMEs includes: the National Microfinance Project located in
the Ministry of Finance and Economic Development; the Ministry of Women and
Children Affairs/Japan International Cooperation Agency (JICA) Microcredit scheme,
which exclusively targets rural women entrepreneurs; the Social Investment Fund
targeting agro-processing, agro-trade, fishing and poultry; the Venture Capital Fund;
Export Development and Investment Fund; Community-Based Rural Development
Project; the Export-Import-Guarantee Loan Facility; and the Government of
Ghana/Swiss Government Loan Facility. The government supports skills
development, entrepreneurship, management, and business training through
institutions such as the Ghana Regional Appropriate Technology Industrial Service
(GRATIS), National Vocational Training Institute (NVTI), Integrated Community
Centres for Employable Skills (ICCES), Management Development and Productivity
Institute (MDPI) and the Skills Training and Employment Project (STEP).
93