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Britain to commit 40 million pounds for SMEs development in Ghana

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The Foreign Secretary said that his country would pledge a £40 million boost for Ghana’s businesses, which would focus on “small- and medium-sized enterprises (SMEs)

The UK’s Foreign Secretary James Cleverly is in Ghana for the start of a four-day visit to three African countries. The visit is focused on strengthening future-focused, mutually beneficial partnerships. The Foreign Secretary said that his country would pledge a £40 million boost for Ghana’s businesses, which would focus on “small- and medium-sized enterprises (SMEs).

Ghana is the UK’s fourth-biggest export market in sub-Saharan Africa, with total UK imports from Ghana amounting to £1.3 billion in 2022. During his visit, Cleverly attended the launch of the UK-Ghana Gold-Mining Program, which will focus on supporting the Ghanaian government in formalizing and regulating the country’s small-scale mining sector.  The British government has earmarked £3.9 million (US$5 million) for the initiative which was agreed upon by both nations during the UK-Ghana Security Dialogue in London last year.

The three-year program will boost Ghana’s efforts to improve the sector. The government’s initiatives so far include community mining schemes and alternative employment and livelihood programs for artisanal small-scale miners.

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His visit comes only days after a coup in nearby Niger, which prompted global concern. Ghana’s Defence Minister Dominic Nitiwul denounced the coup leaders’ actions. The minister said the Ghana Armed Forces remain on standby to respond to the coup, should directives come from various armed forces across the globe. Military chiefs from Ghana and other West African countries, under the regional bloc ECOWAS, have also begun consultations on the possible deployment of armed forces to Niger to restore constitutional order.