MSMEs are key to economic growth in the Commonwealth – CWEIC CEO

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Rosie Glazebrook, CEO of the CommonWealth Enterprise and Investment Council (CWEIC),  has noted that Micro, Small and Medium Enterprises ( MSMEs) are key to the development of many economies in the Commonwealth.

This, in her view, underscored the CWEIC strategy to work with partners in key Commonwealth markets to foster MSME growth.

Madam Glazebrook made these comments when she paid a courtesy call at one of the CWEIC’s key partners in Ghana, UMB (Universal Merchant Bank).

This formed part of Madam Glazier official tour of Ghana,  this week.

The Bank structured the visit to enable Madam Glazebrook get a first-hand view of Ghanaian MSMEs, by hosting  the CWEIC delegation at its ‘Centre for Businesses’ , within the Madina market  enclave.

Nana Dwemoh Benneh, CEO of UMB,  in his remarks noted: ” A number of significant economic reports argue that MSME’s account for at over 70% of all economic activity in Ghana. As a Bank, we have been focused on Ghanaian MSME’s and their growth since 1972, and thus we share this passion for MSME’s with the CWEIC. Indeed we are proud to have been selected by the CWEIC to partner the University of Coventry program to build capacity for Afican SME’s and look forward to rolling out the program this year, especially to MSME’s with female leadership.”

Madam Glazebrook in her remarks said, “UMB is Ghana’s oldest Merchant Bank, and I daresay the CommonWealth is one of Ghana’s oldest international relationships. Central to our work at the CWEIC is the COMMONWEALTH ADVANTAGE- the fact that overall its 21% cheaper to do business across the CommonWealth. We are thus very passionate about bring this advantage to bear on  businesses  and I am excited that one of our key partners is doing this in lock-step with us here in Ghana.”

Madam Glazebrook and her party were escorted around the market by Nana Dwemoh Benneh and other officials of the Bank.

This was followed by a presentation by Mr. Roland Akafia, Head of Strategy on UMB’s MSME program and the integation with CWEIC.

This  was followed by a luncheon with MSME customers of the Bank.


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