Tamale, Aug. 21, GNA - Credit facility providers have been urged to empower Small and Medium Scale Enterprises (SMEs), particularly those owned by women, to help reduce gender inequality in the society. Mr Gilbert Sebik, Northern Regional Trade and Industry Officer, made the appeal at the launch of the Ghana Private Sector Development Facility (GPSDF) in Tamale on Friday.

The GPSDF, which is to support the efforts of government to promote private sector development, is being funded by the Italian government with 22,000.00 euros which SMEs could access. Mr Sebik noted that, the beneficiaries of the credit facility were only Ghanaians and that particular consideration would be given to enterprises owned by women. He noted that many of the SMEs such as shea-butter and rice processing enterprises in the three northern regions were dominated by women.

He expressed the hope that the credit facility would facilitate easy access to capital for women entrepreneurs who abounded in the three regions to enable them to expand their businesses. Mr Sebik also urged the SMEs to make maximum use of the facility to create wealth for themselves and help reduce poverty in the area. He said SMEs had not been able to access similar credit facilities in the past because of very rigid conditions such as high collateral security which many of them could not provide. He therefore appealed to the managers of the facility to take cognisance of that fact and relax the conditions to enable as many SMEs as possible to benefit. Mr Moses Mabenga, Deputy Northern Regional Minister, said one area which was the bane of development of the SMEs was the lack of access to long-term finance adding that this had been addressed under the current facility. He encouraged potential SME beneficiaries, especially those in the three northern regions, to take advantage of the facility and be committed to the terms of borrowing.