“Ghana and for that matter Africa stands at the precipice of a giant awakening that our resource can soon become our nightmare. While the rest of the world is slowing down, Africa stands the chance to rise above the fray because of its peculiar challenges which are in themselves business opportunities,” the Convenor of the summit, Mr Yaw Asamoah, told the Daily Graphic ahead of the event slated for Thursday, October 13 and Friday, October 14, 2016 at the College of Physicians and Surgeons.

Mr Asamoah said the ability of the continent to withstand those changes would hinge on how resilient its businesses, particularly small and medium enterprises (SMEs), became.

Global definition of SMEs

Doing that would require them to be competitive globally. This has informed the decision of the summit organisers to benchmark their definition of SMEs to international standards held by organisations such as the United Nations, the European Union Commission and the Organisation for Economic Cooperation and Development (OECD) countries.

“Here at the SME organisation, we define SMEs as any organisation whether for profit or non-profit engaged in economic activities with an annual revenue base of up to $30 million and employing up to 300 people,” Mr Asamoah pointed out.

Vodafone is the headline sponsor of the two-day event on the theme: “Entrepreneurship - Becoming a Ready Business." The summit will also provide networking and mentoring opportunities for SME owners and avenues for them to showcase their products.

Vodafone supports

The Head of SMEs, Vodafone Business Solutions, Mr Jerry John Quarshie, said over the last two years, Vodafone had made a lot of headway into the SME sector and impacted a significant number of them.

“It’s of no surprise that some of the cutting edge technologies we introduced have been replicated on the market, but we continue to lead in that space,” Mr Quarshie said.

Vodafone’s association with the summit, he said, had also allowed them to encourage SMEs to adhere to best practices, adding that by their participation, SMEs could tap from peers and other giants to advance and develop their businesses.

The summit is supported by First National Bank, Phoenix Insurance, the China Europe International Business School (CEIBS) and the National Investment Bank (NIB), with Graphic Business as the main media partner.

Seasoned speakers

The speakers include Prof. Pikay Richardson from the Manchester Business School, Prof. Matthew Tsamenyi from CEIBS; Mr Dhananjay Tripathi, the Chief Executive Officer (CEO) of Pharmanova; Ms Yolanda Cuba, the CEO of Vodafone, Mr Tang Hong, the CEO of Caitec and Tang Palace Hotel, and Mr Victor Yaw Asante of First National Bank.

Others are Ms Elizabeth Opoku-Dakwa, Manager of Genie Intel Ltd; Mr Ekow Archer, Dr Andrew Akolaa, Mr Kwadwo Safo Jnr, Ms Nadia Tekyiwaa, Mr Albert Biga and Mr Robert Dovlo of Reels Consult Limited.