Government launched the SME Growth and Opportunity Programme today, a major initiative to strengthen the country’s small and medium-sized enterprises (SMEs).
Boosting SME Growth
Led by the Ministries of Finance and Trade and Industry, the program aims to deliver coordinated financial and technical support to high-potential SMEs. This will drive economic growth and development in Ghana.
Breaking Barriers Summit
A summit themed “Breaking Barriers to SME Growth” marks the launch. It brings together 150 participants from various sectors:
Private businesses
Academia
Business regulatory and compliance institutions
Media
Industry experts
Multilateral and bilateral partners
Financial service providersImportance of SMEs
Key speakers, including President Nana Addo Dankwa Akufo-Addo, will highlight the critical role of SMEs in Ghana’s economy. SMEs represent:
90% of businesses in Ghana
70% of the country's GDP
80% of private sector jobsGlobal Comparison
Ghana’s SME landscape compares well globally. SMEs contribute:
50% of global GDP
60% of private sector jobs worldwideIn Africa, SMEs are equally significant, forming the backbone of many economies. They account for:
37.7 million enterprises
34% of Africa's GDP
63% of the continent's workforceProgramme Goals
The SME Growth and Opportunity Programme focuses on:
Improved coordination among partner agencies
Targeted delivery of financial and technical assistance
Stronger partnerships
Mobilizing diverse financial resources for SME growth
Advocating for inclusive policies to support SMEsAdditional Support
The program includes an SME product exhibition, allowing businesses to showcase their innovations and connect with potential investors, partners, and customers.
Partnering for Success
Several key agencies are partnering in the program:
Ghana Enterprises Agency (GEA)
Ghana EXIM Bank
Development Bank Ghana (DBG)
International Finance Corporation (IFC)These collaborations ensure a comprehensive approach to fostering a thriving SME ecosystem in Ghana.
