By Ernest Bako WUBONTO
Government has announced plans to unlock GH₵6billion in concessional lending over the next two years to support micro, small and medium enterprises (MSMEs) across the country.
Speaking at the 2025 International MSME Day celebration in Accra, Minister of Trade, Agribusiness and Industry Elizabeth Ofosuhene-Adjare said the initiative will be rolled out in partnership with international development institutions – enhancing access to affordable financing, encouraging business growth and improving scalability.
She described the country’s MSMEs as bold, creative and resilient, but likened them to a malnourished child – full of potential, yet deprived of the support needed to grow.
According to the minister, many businesses remain small not because of lacking ambition but due to constraints within the business environment.
Citing a 2022 study on digital transformation by Effah and colleagues, she noted that most MSMEs operate informally – which limits their access to financial services, digital tools and government support. She also pointed out that poor digital literacy and high infrastructure costs prevent many businesses from fully using mobile money and social media for commercial purposes.
To address these issues, the minister said government is introducing targetted policies for micro-enterprises and streamlining support processes.
This includes simplifying business registration and certification through a Business Regulatory Reform (BRR) Unit, which is working to digitise and coordinate regulatory processes across agencies.
Margaret Ansei, Chief Executive Officer-Ghana Enterprise Agency (GEA), said this year’s MSME Day theme, ‘Empowering MSMEs, Connecting Entrepreneurs for a Digital and Sustainable Future’, reflects both challenges and aspirations of the sector.
She noted that while the world faces rapid digital transformation and environmental challenges, MSMEs remain vital to economic resilience and innovation.
“We are pursuing a comprehensive strategy covering access to finance and markets, productivity improvement, business formalisation and digital empowerment,” she said.
Mrs. Ansei added that the GEA’s work aligns with national development goals, particularly in improving affordable financing, reducing the cost of doing business, enhancing digital and technical skills and promoting inclusion of women, youth and persons with disabilities.
Globally, MSMEs represent about 90 percent of businesses, contribute roughly 50 percent to GDP and account for over 70 percent of employment. In Ghana, they make up 92 percent of registered businesses, contribute 70 percent to GDP and provide 85 percent of manufacturing jobs, according to the Office of the Registrar of Companies.
The celebration also brought together development partners including the United Nations Capital Development Fund (UNCDF), United Nations Conference on Trade and Development (UNCTAD), United Nations Development Programme (UNDP), European Union (EU), GIZ, MTN Ghana, MobileMoney Ltd. and Stanbic Bank.
