Let’s work together to build an inclusive and sustainable economy – GEA

Kosi Yankey-Ayeh, Executive Director of NBSSI - now GEA

The Ghana Enterprises Agency (GEA) has called on Micro, Small and Medium-sized Enterprises (MSMEs) to work closely with the Agency to build an inclusive and sustainable economy.

Mrs. Kosi Yankey-Ayeh, Executive Director of the GEA, said the Agency will work to support MSMEs build their capacity and give them the resources they need to operate their businesses.

Mrs. Yankey-Ayeh was speaking at the Pension and Retirement Planning for an MSMEs’ Masterclass to mark MSMEs Day in Accra.

The United Nations observes MSMEs Day on June 27 every year since 2017 to recognise the contribution of industries in implementation of the Sustainable Development Goals.

The General Assembly declared June 27 as MSMEs to raise public awareness of their contribution to sustainable development and the global economy.

The Day was on the theme ‘MSMEs 2021: Key to an inclusive and sustainable recovery’.

She said it is important to give the sector a message of hope and let them know that the goal of the Agency is to ensure the success and growth of the sector.

She said the Agency is able to support the sector in the Covid-era to build a sustainable and inclusive business, which will ensure that they remain strong enough to support the economy.

Mrs, Yankey-Aryeh said the MSMEs policy it is important because it is the roadmap to guiding its implementation.

She said the sector has never had any such policy to guide its activities.

In the area of pensions, the Executive Director said over the period the issue of pensions was missing in the activities of MSMEs and it is important that much attention is paid to them in this regard.

“We meet and talk about how to support the MSMEs sector, but one thing is always missing – which is pensions for the people who work in the sector,” she said.

She said it is very important that they partnered with Axis Pension Trust to see how best they could start planning for that unknown future.

Paa Kofi Ankomah, General Manager-Axis Pensions Trust, said for the country to have a sustainable MSMEs system, there is a need to have a plan to sustain the sector.

He said there is a need to support and help individuals in the MSMEs sector to plan their pensions and retirement.

The General Manager said there is still a lot of room to bring the MSMEs onboard to prepare for the unknown future.

He also said it is very important for businesses to reinvest in their business, but it is equally important to save and prepare for the future or have a retirement package.

Credit: GNA

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