Promoting Ghana’s economy

Context

Ghana’s economy is currently experiencing annual growth of around seven per cent. Nevertheless, large sections of the working-age population are unemployed, underemployed or in informal employment (90 per cent).

Micro, small and medium-sized enterprises (MSMEs) account for the majority of private-sector economic activity. 95 per cent of these are micro-enterprises and self-employed persons with no employees. Incomes are low and working conditions are often precarious.

MSMEs lack the business knowledge for efficient processes and marketing, good product quality, digitalisation and trained staff. At the same time, there is no coordinated provision of financial and non-financial services for MSMEs. There is insufficient promotion of business models with a focus on climate-neutral growth or green growth.

In addition, jobseekers, returnees and migrants struggle to find suitable career guidance, qualifications or placements.

Objective

The employment situation in MSMEs in selected regions of Ghana is improved.

Approach

The project contributes to establishing and strengthening regional networks of services (private and state actors), the aim being to improve the services offered to MSMEs and jobseekers. Within these networks, providers of financial, business and labour services as well as associations coordinate with each other and work collaboratively. The networks also allow state and private actors to work together locally to leverage synergies in their respective services.

The project also advises the government on financial parameters, supporting the financing of MSMEs and promoting the growth of enterprises with green business models. In addition, it improves the overall business promotion ecosystem for MSMEs, including the business environment.

The project also helps establish an organisational and technical basis for vaccine production. This commitment is being co-financed by the European Union.

Last update: March 2023