Lower interest rates, back SMEs to create jobs – Dr. Norman to Finance Minister

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Security expert Dr. Ishmael Norman has urged the government to prioritize economic empowerment for Small and Medium-scale Enterprises (SMEs) by reducing interest rates to spur job creation and economic growth.

Speaking on TV3’s Key Points program, Dr. Norman emphasized that without strong support for the SME sector, job opportunities for the youth will remain limited, regardless of the government’s training programs.

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“Where are the jobs? If you don’t empower SMEs, if you don’t reduce interest rates, you won’t meet your economic goals,” he stated.

He stressed that SMEs are the backbone of every stable economy, and empowering them is essential to building a resilient middle class in Ghana.

Security and Governance Concerns

Dr. Norman also cautioned that economic gains would be meaningless if public safety continues to deteriorate.

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“If citizens don’t feel safe in their own homes because of rising insecurity, then economic performance won’t matter,” he said.

On Missing Ammunition

On national security, he called for a thorough investigation into the reported disappearance of thousands of rounds of military ammunition. Dr. Norman said even former military leaders, including the ex-Chief of Defence Staff, must be questioned.

His comments follow concerns raised by Dr. Adam Bonaa, Executive Secretary of the National Commission on Small Arms, who confirmed that Ghana’s neighbors are alarmed by the issue and fear the weapons may have been diverted across borders.

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“This is not just a Ghana problem. We’re getting calls from across West Africa,” Dr. Bonaa noted, warning that the region is too fragile to allow such breaches.

He added that his Commission is working with other agencies to track the movement of the ammunition and ensure accountability.


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