The Deputy Minority Whip, Jerry Ahmed Shaib, has called for sweeping reforms in Ghana’s financial sector to improve access to funding for Small and Medium-sized Enterprises (SMEs).

He described SMEs as the backbone of job creation and economic transformation, but noted that many businesses continue to struggle to secure affordable capital needed for growth and sustainability.

Shaib emphasised the need for financial institutions to develop tailored products that address the specific challenges faced by local businesses, thereby bridging the gap between entrepreneurial potential and access to funding.

In addition to financial sector reforms, he proposed a series of policy measures aimed at strengthening economic governance. These include mandatory impact assessments for new taxes and levies, enhanced parliamentary oversight of the country’s AI-driven customs assessment system, and a comprehensive review of utility tariffs.

He made this call while speaking on the second day of the Kwahu Business Forum held at Mpraesu in the Eastern Region

According to him, ensuring transparency and predictability in taxation and utility pricing is essential for fostering a stable business environment.

Shaib explained that the proposed reforms would not only support SMEs but also promote the development of sustainable and innovative industries rooted in Ghana’s local context.