The United Nations Development Programme (UNDP) in Ghana has organized a two-day capacity-building training programme for 30 MSMEs selected across the country to benefit from funding and training on how they can utilize digital technology to market their businesses.
The training was also to equip these MSMEs on how they can leverage on African Continental Free Trade Area (AfCFTA) to reach a wider African audience.
Addressing participants, the Resident Representative of UNDP, Dr. Angela Lusigi, said there are vast untapped resources available for Ghanaian MSMEs to fund their growth and expansion within the AfCFTA.
“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,” said Dr Lusigi.
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In order to support women and youth-led MSMEs to recover from the COVID-19 pandemic as well as leverage opportunities in the AfCFTA, Dr. Lusigi indicated that the UNDP is currently carrying out market intelligence on investment opportunities, services and gaps related to support MSMEs in Ghana.
The UNDP, since 2020, has provided over $500,000 in seed funding to Ghanaian MSMEs to enable them to 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 gross domestic product (GDP).