As part of strategic efforts to ensure Small Medium Enterprises(SMEs) in Ghana live beyond their first generation and in response to the COVID-19 pandemic, the President of Institute of Directors, Ghana, Mr Rockson Dogbegah has inaugurated IoD-Gh SME Mentoring Committee on the 30th of April, 2020, to ensure a speedy implementation of the IoD-Gh SME Sustainability and Mentorship project.
This is to ensure SMEs live beyond their first generation and are able to respond to risks and uncertainties in the business landscapes. The urgency for attention to SMEs development is heightened by the COVID-19 pandemic which is forcing us all to move very quickly to find creative and innovative ways for business survival. Support for the development of SMEs cannot be postponed further. The time has come for an immediate and deliberate focus and attention for SME development and growth through strategic capacity development and funding support.
The project was birthed in May, 2019 at an International conference organized by the Institute of Directors Ghana in collaboration with the International Finance Corporation (IFC) and African Corporate Governance Network (ACGN) in Accra.
At that event, President Nana Akufo Addo who was the Special Guest of Honor represented by the Minister of Business Development Ibrahim Mohammed Awal charged the Institute of Directors Ghana to champion SME development noting that though they contribute very significantly to GDP, they are not able to live beyond their first generation. A visit to the President of the Republic of Ghana by IoD-Gh on the 18th June 2019 further concretized the need for response. After several stakeholder consultations, the project is almost ready for implementation in June, 2020.
Members of the Committee are; Ken Ameovi Gbeve(Chairman), Benjamin Mensah, Kaaka Dello-Ziem, Mary Asare-Yeboah(Mrs.) Rejoice Wodomdedzi Foli. It is expected that the committee would do the following;
- Ensure the successful implementation of the IoD-Gh Mentoring Scheme.
- Ensure the scheme is marketed appropriately to receive funding and Stakeholders support.
- Ensure the sustainability of the scheme.
- Ensure compliance to the mentors and mentees selection process.
- Seek for strategic collaboration.
The overall goal of the scheme is to provide mentorship/training for SMEs to enable them put in place the appropriate corporate governance structures, business growth and sustainability systems to make them survive beyond their first generation.
The specific objectives are;
- Provide a structured approach towards SME development through mentoring and training.
- Establishment of a structured mentorship certification scheme to train and certify mentors and mentees to enable them deliver their services sustainability.
- Provide a system for mentor and mentee selection and assignment and certification
At the end of the project, the following are expected to be achieved;
- Establishment of a SMEs development mentorship scheme.
- Optimized growth and development for SME’s.
- Mentorship certification system for mentors and mentees.
Mr. Dogbegah, expressed his gratitude to the members of the committee for accepting to lead this strategic project. On his part the Chairman of the Committee, Mr Ken Ameovi Gbeve (Chairman) expressed his gratitude for the opportunity given them to be the drivers of the strategic project and pledged their support and commitment to ensure a successful execution of the project.
Mr Dogbegah expressed his appreciation to BUSAC Fund and its developmental partners – DANIDA and USAID for supporting the scheme development and is appealing to all stakeholders and donors to support in funding the implementation of the project.