Promoting Ghana’s economy

Current situation

Ghana’s economy grew by 5.7 per cent in 2024, mainly due to mining, agriculture and the service sector. However, around 80 per cent of the workforce operate in the informal economy, usually with insecure incomes.

Micro, small and medium-sized enterprises (MSMEs) are a key pillar of Ghana’s economy. Yet it is difficult for them to access finance, continuing training, digitalisation and skilled staff. No support has been provided to date for green, climate-adapted business models.

In addition, jobseekers need better access to employment services, skills development and suitable jobs.

Objective

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

Approach

The project pursues a holistic approach which addresses both supply and demand side for financial services, such as loans for MSMEs, while at the same time improving the conditions for business growth. The primary focus lies in the following areas:

- It provides financial literacy training to more than 3,000 MSMEs, promoting their access to finance.

- It advises MSMEs on introducing and scaling up green and social business models, with a view to combining socio-ecological economic growth and environmental protection. It also develops criteria for environmentally friendly investment.

- It supports regional networking of public and private-sector organisations to better coordinate and implement services for MSMEs and jobseekers.

- It expands labour market and employment services for jobseekers.

- It promotes the establishment of an organisational and technical basis for local vaccine production, for example by providing continuing education for pharmaceutical workers.

The project receives funding from the European Union (EU). The German Sparkassenstiftung for International Cooperation and Icon Institut are supporting the project’s implementation.