BY Issah Olegor
The Government of Ghana has unveiled an ambitious GHS6 billion financing plan aimed at transforming the Micro, Small and Medium Enterprises (MSME) sector by the year 2027.
This agenda was outlined during the country’s first official observance of International MSME Day, over the weekend.
At the heart of the celebration was a call to action by the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, who emphasized that MSMEs remain the backbone of Ghana’s economy and must now be fully empowered through digital inclusion, affordable financing, and strong institutional support.
MSMEs Central to Ghana’s Economic Vision
Delivering the keynote address under the theme “Empowering MSMEs, Connecting Entrepreneurs for a Digital and Sustainable Future”, Ofosu-Adjare described Ghanaian MSMEs as bold and creative, yet stifled by systemic barriers.
She likened their situation to “watching a movie from outside the cinema,” seeing opportunity but being unable to fully participate due to limited access to funding, digital tools, and regulatory support.
Quoting findings from a 2022 study, the Minister highlighted informality, poor digital literacy, and low uptake of online platforms as key obstacles hindering MSME growth.
Nevertheless, she praised the ingenuity of youth entrepreneurs using platforms like WhatsApp, Instagram, and mobile money—a trend researchers dubbed “digital bricolage”—to innovate and stay afloat.
Four-Pronged Agenda
The Minister unveiled a four-point government roadmap aimed at revitalizing the MSME landscape within two years:
1. Unlock GHS6 Billion in Lending: Targeting 100,000 MSMEs, with 60% of the support directed to women and youth-led enterprises.
2. Develop Industrial and Agroecological Parks: Three shared infrastructure parks will provide energy, logistics, and space for MSMEs to scale operations.
3. Streamline Certification Processes: Time and costs for certification will be reduced by 40%, enabling 5,000 businesses to comply with standards from the FDA, GSA, and ORC.
4. Digitally Onboard 250,000 MSMEs: Businesses will be formally registered and connected to digital platforms to enhance visibility, funding access, and e-commerce participation.
Ofosu-Adjare described the targets as ambitious but necessary, asserting, “Ambition is what this moment demands.” She pledged a collective review of the initiative’s progress in June 2026.
Structural and Policy Reforms Underway
As part of the broader MSME reform drive, the government is revising the National MSME and Entrepreneurship Policy to align with emerging economic realities. A costed implementation framework will accompany the policy, ensuring actionable and measurable interventions.
The Ghana Enterprises Agency (GEA) has also been mandated to develop a new strategic blueprint targeting youth, women, persons with disabilities, and informal businesses. The Minister emphasized that existing programmes will be refocused to reflect these priorities.
Among the ongoing government initiatives highlighted were:
The Business Regulatory Reform (BRR) programme to simplify registration and certification processes.
An Apprenticeship-to-Entrepreneurship initiative, focusing on digital and business skills training.
Introduction of zero-fee mobile lending platforms.
Plans to launch a Women’s Bank to provide tailored financing options for female entrepreneurs.
Flagship industrial programmes including the Accelerated Export Development Programme, Feed the Industry Initiative, Made-in-Ghana Promotion, and Rapid Industrialisation for Jobs Strategy.
“These efforts are not isolated. They form a comprehensive approach to integrate MSMEs into high-value sectors such as agriculture, pharmaceuticals, garments, and automobiles,” Ofosu-Adjare noted.
GEA Outlines Digital Leap and Inclusion Strategy
Chief Executive Officer of the Ghana Enterprises Agency, Margaret Ansei, echoed the call for coordinated action and reaffirmed the Agency’s commitment to inclusion and resilience in the MSME sector.
With MSMEs making up 92% of all registered businesses in Ghana, contributing 70% to GDP and 85% of employment in manufacturing, Ansei stated that empowering this sector was not optional but essential to Ghana’s economic future.
She revealed GEA’s plans to roll out the MSME Gateway Portal, developed with support from UNDP, to provide businesses with digital access to tools, financial products, and capacity-building services.
The platform is expected to significantly ease access to information and boost formalisation.
“This day is not just about celebration; it is about reaffirming our collective commitment to go further, faster, and together,” Ansei concluded.
A Multi-Stakeholder Effort
The event brought together policymakers, entrepreneurs, financial institutions, development partners, and academia, all focused on one goal—accelerating Ghana’s MSME growth. Through exhibitions, business clinics, and expert panel discussions, stakeholders shared ideas and explored innovative strategies for inclusive development.
In a personal pledge, Minister Ofosu-Adjare expressed her continued dedication to supporting Ghanaian women entrepreneurs across the country, from Makola market traders to tech innovators in East Legon.
“This is not just sound economics—it is smart, inclusive policy. And it is how we will build a stronger, fairer, more competitive Ghana,” she declared.
