Western Region Minister, Mr Kwabena Okyere Darko-Mensah has thrown a challenge to businesses in the region to secure enough funds to make them financially sound to own and maintain productive assets.
He noted that there were objections from indigenous companies in the region about the situation where some major contracts were being awarded to companies from outside the region and said “this will continue if indigenous companies fail to be daring enough to secure funds for huge projects.”
“You should also have enough evidence to show that given that huge sum of loan you can pay back… we now have the Development Bank Ghana (DBG) which is a significant innovation and reinforcement of our financial architecture that will provide medium and long term financing for commercially viable businesses and projects… I, therefore, encourage businesses in the region to also have the courage to make applications to the DBG…”, he stressed.
Mr Darko-Mensah who was speaking at the official opening of the 10th edition of Connect FM’s Western Trade Fair in Takoradi also entreated businesses to use market surveys to guide them in producing the right products for the market.
He advised young entrepreneurs especially, the youth to look critically and assess the gaps that exist in the business terrain, identify the needs and create products to meet those emerging needs.
The One-Week Trade and Exhibition Fair is being held at the forecourt of the Takoradi Mall near Jubilee Park from Sunday, 31st July 2022 and is expected to end on Sunday, 7th August, 2022.
The Fair brings together businesses like Small and Medium Enterprises (SMEs), Agro and Agri-Business, Manufacturing Industries, and Financial Services amongst others to showcase and exhibit their products and services to investors and the general public.
It also helps to build a more robust network for enhanced growth.
Activities lined up for the Fair would include a seminar, Live Band, Movie Night, Fashion Show, and Connect Kiddie Bash among others with over sixty vendors assembled from all over the country.
The Fair which has grown to become the most anticipated activity on the calendar of many residents in the region seeks to bring businesses to their target market and also give consumers wider choices at competitive prices.
Station Manager for Connect FM, Mr Ransford Nana Osei Asare assured the exhibitors of continuous changes to make it more successful.
“This year, the Connect team with the experience gathered from the previous fairs has among the series of activities added a seminar in collaboration with Virtual Space Ghana to this year’s Fair to expose our vendors to the new trends and avenues available to them to maximise profits”, he said.
He said the station was committed to assisting the region through its programmes and events to lift the image of the region while it offers its platform for commercial advertisement.
He also disclosed that as part of its 6th Anniversary, the station donated to the Appiatse disaster victims with support from the Takoradi branch of the International Central Gospel Church (ICGC) and that they will continue to support every worthy cause as far as the region was concerned.