Given the wave of technological advancement, cutting across almost every facet of commerce and social life, small and micro businesses, particularly micro credit providers, have been urged to leverage digitalization or risk collapsing with time, Head of Enterprise Products and Propositions of Vodafone Ghana, Edward Aikins, has said.

He asserted that digital relevance has become critical for businesses, whether small or large, considering that technology is driving end-user engagement, and for which reason businesses should take advantage to offer more services with ease and efficiently.

He noted that the current internet savvy generation preferably will opt for service providers who offer effectual services in real time, and virtually, without sometimes having to be on their premises.

The Head of Enterprise Products and Propositions of Vodafone Ghana, who was speaking in an interview with B&FT, at the backdrop of a ‘National Open Forum’ of the Micro-Credit Association Ghana, said businesses should not stay one sided but capitalize on the available platforms to grow digitally.

He said for instance that Vodafone has embarked on a nationwide agenda to digitize Ghana and is keen not to leave anyone out. He particularly noted that the financial service is key to Vodafone, hence the willingness to collaborate and provide the reach for such businesses in the sector to grow.

However, he advised that as e-financing grow, there is also the need for the regulators of the banking industry to team up with technology providers to come up with rules to supervise the operations of service providers and customers.

The forum was organized as part of activities to mark the 8th Annual General Meeting, in Kumasi, and discussed topics including industry challenges and digital financing.

The Executive Secretary of Micro-Credit Association Ghana, Mr. Ebenezer Quartey, said the operations of micro-credit, formerly known as money lenders, is to a large extent committed to helping micro small businesses to get access to credit to expand their operations.

He explained that activities of micro-credit, with a membership of over 700 people across the country is recognized by the Bank of Ghana, and geared more towards the economically poor but active members of society.

He observed that the country’s financial sector would be required to be supported to further understand and appreciate ‘digital financing’ in order that it becomes acceptable to all within the industry.

In a related development, Vodafone has dedicated September to its Small and Medium Scale enterprise (SME) customers.

The move underlines a commitment by its enterprise unit - Vodafone Business Solutions - to empower businesses to leverage technology to deliver modern and up to date offerings to the benefit of their clients and customers.

The SME month will be marked by a host of activities including the SME Ghana Awards and an SME Masterclass programme for Senior SME Managers across the country. Additionally, various customer clinics and market storms have been outlined within the regions during the month to introduce SMEs to a suite of bespoke products.

This year’s SME Ghana Awards will focus on how businesses can start turning their attention to becoming globally competitive with technology. Participants at the event, slated for September 28th, will be urged to get involved in activities that drive sustainable profits to their shareholder and customers.

The Director at Vodafone Business Solutions (VBS), Angela Mensah-Poku, said: “SMEs require constant support and empowerment to progress to the next level of profitability and growth. As a business, we continue to make it our concern to drive transformation in this sector.

Over the years, our interventions have equipped these businesses to scale up and we are not resting on our laurels to ensure that we make them ready to transit into the global marketplace. We remain ready at all times to engage new businesses on what is required.”