Govt Pledges Support for MSMEs with GHS6bn Lending Target by 2027
Accra, Ghana - 30 June, 2025 - Ghana's government has reaffirmed its commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) as a key driver of national transformation and sustainable economic growth.
Speaking at the International MSME Day celebration in Accra on June 27, Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, outlined a strategic agenda to support the sector.
According to her, the government aims to unlock GHS 6 billion in affordable lending to MSMEs by 2027, with a focus on women and youth-led entrepreneurs. entrepreneurs in the sector.
The Minister emphasized the importance of digital inclusion, citing the ingenuity of young entrepreneurs who use digital platforms like WhatsApp and Instagram to sustain their businesses.
“We are gathered as a full spectrum of Ghana’s enterprise ecosystem, from government and development partners to financiers and technology enablers, to connect, collaborate and chart a bold new path,” the Minister declared.
She also announced plans to revise the National MSME and Entrepreneurship Policy to reflect current sector realities.
The Ghana Enterprises Agency (GEA) has outlined a strategy to drive inclusion and resilience in the sector through improved access to affordable financing, capacity building, and digital empowerment. The agency plans to launch an MSME Gateway Portal to provide timely access to business resources and support services.
The celebration, which brought together policymakers, private sector actors, and development partners, highlights the government's commitment to supporting MSMEs as a key driver of economic growth and job creation.
With MSMEs contributing about 70% to national GDP and employing 85% of the country's manufacturing workforce, their importance to Ghana's economic future cannot be overstated.
The government has also pledged to support women entrepreneurs in transitioning from informal to formal businesses, emphasizing that this is crucial for a stronger, fairer, and more competitive economy.
The MSME Day celebration marks a significant step towards recognizing the potential of MSMEs and working towards creating a more supportive ecosystem for their growth.
Source: Lead News Online
