The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, says the John Dramani Mahama-led government is intensifying efforts to expand affordable credit to Micro, Small, and Medium-sized Enterprises (MSMEs) across the country.
This comes on the back of concerns that many Ghanaian MSMEs, despite being innovative and resilient, remain stuck due to limited access to finance, complex registration processes, and costly infrastructure.
According to the Minister, the government is working on new financing arrangements, including innovative guarantee schemes and partnerships with development finance institutions to lower borrowing costs and reduce collateral demands.
“We are working to expand affordable credit facility to MSMEs, including innovative guarantee schemes and partnership with development financing institutions to lower borrowing cost and reduce collateral requirements,” she said in a keynote address the national celebration of the 2025 International MSMEs Day held in Accra on Friday, June 27.
Mrs. Ofosu-Adjare further hinted that government is engaging financial institutions and fintech companies to design products tailored specifically to the needs of small enterprises.
“We are also encouraging financial institutions and fintech to create products tailored to the unique needs of small enterprises—mobile credits, zero-fee transactions and merchant-friendly platforms,” she stated.
The also announced that the government is in the process of revising the national MSME and Entrepreneurship Policy to reflect current sector realities.
The revised policy, she said, will be backed by a costed implementation plan to ensure measurable outcomes.
The event, hosted by the Ministry in collaboration with the United Nations in Ghana, was held under the theme “Connecting the Entrepreneurs: Unlocking Digital Opportunities for MSMEs.”
It received support from the UN Joint Programme Leveraging Digital Ecosystems for Increased MSME Productivity, which is funded by the Joint SDG Fund with contributions from the European Union and other UN Member States.
