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In order to support MSMEs to recover from the covid-19 pandemic and leverage on the opportunities of the AfCFTA, the United Nations Development Program in Ghana has organized a 2-day capacity building training program for 30 MSMEs selected across the country. This program is to enable MSMEs to benefit from funding and training on how they can use digital technology to market their businesses.
Since 2020, the UNDP has provided over $500,000 in seed funding to Ghanaian MSMEs to enable them fund their businesses during the period of the covid-19 pandemic. MSMEs are the backbone of the Ghanaian economy; representing about 85% of businesses and contributing about 70% of Ghana’s GDP.
The resident representative of UNDP, Dr. Angela Lusigi stated that there are vast untapped resources available in the Ghanaian MSMEs to fund their growth and expansion within the AfCFTA.
According to Dr. Lusigi, ‘ taking action to position MSMEs for growth is an important prerequisite for the success of the one African market and UNDP is committed to working with our partners to do so. We have invested in strengthening the ecosystem to support SME development in Ghana, building on the initiatives by government, private sector, and financial institutions.’