The Ghana Export-Import Bank has instituted the ‘Tuesday Market’, of which the primary focus is the 4Ps – Promote, Produce, Purchase and Prosper Made-in-Ghana goods. The SME department has championed the Tuesday Market which has become a household name.
The Ghana Eximbank has created this platform for its clients to highlight and project Made-In-Ghana products which include well-packaged food items, textiles, cosmetics, etc. It promotes and enhances its market access, creativity and innovation. This grants the clients competitive advantage and prepares them to meet the specification for the international markets.
The Deputy Chief Executive Officer in charge of Banking; Ms. Rosemary Beryl Archer, in corroboration with the SME Department, has initiated TUESDAY MIG (Made-in-Ghana) shop where the department promotes and sell Made-in-Ghana items.
Any lessons from COVID-19?
The impact of COVID-19 on our economy can never be forgotten. The whole world was on its knees due to COVID-19. Ghana is one of the countries which were gravely affected by COVID-19. As the pandemic has negatively affected the local economy, how do we bounce back?
If there is anything to learn from as a nation, then it is hard lessons from COVID-19. The lockdown was the best teacher; but as a nation, it seems we have soon forgotten and even lost the lessons. This is a time to reflect and change our ways. It is in view of such lessons that ‘Tuesday Market’ becomes the ultimate way to go as an industry player.
As said by the CEO of Eximbank, Mr. Lawrence Agyinsam, in March 2020, the sad experience should serve as wake-up call. We need to eat what we grow. The Ghanaian tongue should taste what it grows. It is about time the financial institutions started supporting other SME’s and farmers in areas of capacity-building, resourcing them with needed funds, and giving them the necessary markets to promote and sell their products.
The small and medium enterprises (SMEs) must be innovative and more creative enough to meet the specifications of the global markets so that they can compete globally, but not only becoming local champions. They should move beyond the borders of the nation as other global entities are doing.