GEA grants FDA GH¢5m to enhance progressive licensing of MSMEs

By Mohammed AWAL

The Ghana Enterprises Agency (GEA) has contributed GH¢5million to the Food and Drugs Authority (FDA) to enhance regulatory efforts in the food and pharmaceutical sectors.

This financial backing aims to fortify the FDA’s licensing initiatives, making the process more streamlined and efficient for micro, small and medium enterprises (MSMEs). Additionally, the GEA provided the FDA with a vehicle, projectors and printers to further support its operations.

The move is in partnership with the Mastercard Foundation, signifying a concerted effort to enhance the oversight and regulation of food and drug-related businesses, with priority on consumer safety and product quality.

Making the presentation at a short ceremony in Accra, the Chief Executive Officer (CEO) of the GEA, Kosi Yankey-Ayeh, explained the agency’s commitment to fostering a conducive environment for businesses while maintaining stringent regulatory standards.

She said GEA acknowledges the crucial role of the FDA in safeguarding public health and fostering industry development. Therefore, by providing this significant grant, the agency aims to empower the FDA in its commitment to maintaining the highest standards of safety and efficacy in the food and pharmaceutical sectors.

“The long-standing partnership between the Ghana Enterprises Agency and the Food and Drugs Authority highlights the importance of supporting the authority and accrediting MSMEs through the Ghana Enterprises Agency and Mastercard Foundation’s Business in a Box Project,” Mrs. Yankey-Ayeh said.

She further noted that the partnership between the GEA and the Mastercard Foundation’s Business In a Box Project is essential for bolstering the FDA.

“By enhancing resources and support, our goal is to empower MSMEs and ensure the quality and safety of their products in the market. With the backing of the Food and Drugs Authority and the innovative framework of the Business In a Box project, we can drive sustainable growth and prosperity for entrepreneurs.”

Within the BizBox project, the MSME business acceleration component, which focuses on Youth Skill Development and Access to Markets, requires product certification by the Food and Drugs Board.

Delese Mimi Darko, Chief Executive of the FDA, expressed gratitude for the generous grant from the GEA, saying it will go a long way to achieve FDA’s regulatory objectives.

She said the funding will enable the authority to further strengthen its capacity to oversee and regulate the MSMEs in the food and pharmaceutical industries sectors effectively.

“By enhancing our progressive licensing mechanisms, we can better support businesses while safeguarding the health and well-being of consumers,” she stated.

The post GEA grants FDA GH¢5m to enhance progressive licensing of MSMEs appeared first on The Business & Financial Times.

Read Full Story