Stakeholders have reiterated the importance of Micro, Small, and Medium Enterprises (MSMEs) in driving Ghana's economic growth. Speaking at the MSME Day celebration, Adwoa Wiafe, Chief Corporate Service and Sustainability Officer at MTN Ghana, emphasized the significant contribution of MSMEs to Ghana's economy, noting that they account for over 70% of employment opportunities.
According to Ms Wiafe, MTN Ghana was committed to empowering MSMEs through digital solutions, financial services, and capacity-building initiatives. The company had implemented various initiatives, including a US25 million digital plan to support startups and MSMEs, and hasd connected over 100 MSMEs with digital enablers and financial services.
Angela Mensah-Poku, Head of Enterprise Business at MTN Ghana, further elaborated on the company's initiatives to support MSMEs. She highlighted the launch of the ‘Adwuma Pa’ product, which provides special benefits to women entrepreneurs, and the SME Accelerate program, designed to drive digital inclusion and empowerment.
The Minister of Trade, Agribusiness, and Industry, Hon. Elizabeth Ofosu-Adjare, emphasized the crucial role of MSMEs in Ghana's economic recovery. She highlighted the government's efforts to support MSMEs, including simplifying registration and certification processes through digital platforms. The Minister set ambitious goals for the next year, including operationalizing three industrial and agro-ecological parks and reducing the time and cost of certification by 40%.
Margaret Asei, CEO of the Ghana Enterprises Agency (GEA), highlighted the importance of digital transformation for MSMEs. She emphasized the agency's efforts to provide targeted support, including digitalization, productivity improvement programs, and access to finance. The agency is also launching new services to support businesses, which will be available in the coming months.
Other stakeholders who spoke at the event included Shaima Hussein, Deputy Resident Representative at the United Nations Development Programme (UNDP) in Ghana, who commended the government and partners for their reforms and commitment to assisting MSMEs. Timothy Dolan, Team Lead for Trade and Macroeconomics at the European Union (EU) Delegation, emphasized the EU's commitment to empowering MSMEs through skills training and policy dialogue. Dr. Dirk Aßmann, Country Director at the Deutsche Gesellschaft für Internationale Business (GIZ), highlighted the need for targeted support to help MSMEs overcome challenges.
Dinah Kaleo-Bioh, Acting Head of Business and Commercial Banking at Stanbic Bank, disclosed that the bank had supported over 31,000 SMEs across various sectors in Ghana. The day also featured two panel discussions on business formalization and financial inclusion, and the UNDP soft-launched the MSME Digital Gateway, an innovation hub in its pilot stage.
The event showcased the commitment of various stakeholders to supporting MSMEs in Ghana and highlighted the importance of collaboration and targeted support to help these businesses thrive.