The German Development Cooperation (GIZ) has supported 410 micro-, small- and medium enterprises (MSMEs) in Ghana with startup equipment worth over GH₵1million as part of efforts to empower entrepreneurs.
The equipment was donated on behalf of the German Federal Ministry for Economic Cooperation. The rationale behind this gesture is to address the need for essential business equipment and help MSMEs boost their output.
The donation, which took place at a networking ceremony in Sunyani, forms part of a series of activities aimed at unlocking the potential of businesses as well as facilitating their access to diverse markets and achieve growth.
The businesses that received the equipment participated in two initiatives. They included a business idea competition and the ‘Adwumaye’ short-term skills training, which align with objectives of the new Private and Financial Sector (PFS) Programme.
It focuses on employment promotion and enhancing business skills by leveraging the expertise from previous projects to support the private and financial sectors in Ghana.
The business-idea competition aimed to unlock the entrepreneurial potential of the youth and to inspire them to embrace entrepreneurship. It provided a platform for skills development in business ideation, design-thinking and fostering an entrepreneurial mindset within a community of like-minded individuals.
A total of 110 winners received tailored technical assistance, including training, mentoring and start-up support, to help establish or grow their businesses. The competition focused on technopreneurship, agripreneurship, ecopreneurship and general entrepreneurship.
The Adwumaye initiative (meaning ‘work is good’) was introduced to provide short-term skills training in various trade areas – such as catering, fashion-design, cosmetology, satellite-TV installation and bakeries. Upon successful completion, the 300 participants received business startup tools and equipment to enhance their skills and employability.
Head of Support to the Private and Financial Sector (PFS) Programme-GIZ Ghana, Dr. Christian Jahn, in an address at the ceremony recounted the benefits of these initiatives: “Through these initiatives we have opened doors of opportunity to Ghanaian MSMEs, addressing the longstanding challenges of business growth and access to finance”.
Minister of Employment and Labour Relations, Ignatius Baffour Awuah, in his keynote address indicated that it is necessary to empower MSMEs as they play a very critical role in the economy’s development.
“Empowering MSMEs is crucial to fostering economic development and creating sustainable livelihoods. This handing-over ceremony marks a significant milestone in our collective efforts to support Ghanaian entrepreneurs,” he added.
