[ 2016-03-16 ]

SMEs encouraged to use technology to drive innovation
The Director for Tigo Business, Stephen Essien,
has called on Small and Medium Enterprises (SMEs)
in Ghana to embrace technology and use it to grow
their businesses.

Speaking at an SME Clinic organised by Union
Savings and Loans in Accra, Stephen Essien
encouraged small business owners to look into
connectivity, business applications, devices,
security, payment platforms and solutions, and
service support as they are some of the crucial
elements that will make them more efficient and
drive innovation.


He mentioned that Tigo business has invested in
various products and services in this regard to
support SMEs.

He said several studies indicate that mobile
technologies are the leading cause of innovation
in most SME businesses.

“We know from our internal studies that SMEs
need access to the same technology as big players.
This will help them stay competitive and offer
more flexible and responsive services that meet
and anticipates customer needs,” he said.

Speaking to the clinic’s theme, ‘Managing your
business for success in an Election year’, an
Economic Analyst, Toma Imirhe, told participants
that from historical trends consumer demand for
goods and services are comparatively low in a
Presidential and Parliamentary election year, and
this is due to tight liquidity.

He however expects liquidity to pick up in the
run-up to the elections.

Unless there are further falls in the global
market prices of Ghana’s primary export
commodities, Mr. Toma Imirhe expects the exchange
rates to remain stable until third quarter of the
year.

He however expects the cedi to depreciate in the
last few months of the year due to increase money
in circulation and speculative demand for foreign
exchange.

The SME clinic brought together over 100 SMEs from
Accra, and it was aimed at building their capacity
in record-keeping and understanding macro-economic
issues.

Source - thebftonline | Ghana

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