The African Center for Economic Transformation (ACET) is setting its sights on a more ambitious role in shaping Africa’s business landscape in 2025, placing small and medium enterprises (SMEs) at the center of policy reform and public-private collaboration.
According to its 2024 Annual Report, ACET plans to step up engagement with governments, development partners, and financial institutions to break down structural barriers that continue to stifle SME growth. The organization believes that while SMEs form the backbone of African economies, they remain constrained by poor access to capital, weak governance systems, and underdeveloped market linkages.
ACET’s sharpened focus follows a year of steady progress in Ghana and Rwanda, where the think tank’s Private Sector Development program provided a glimpse of how targeted support can unlock business potential. In Ghana, the ACET Business Transform initiative equipped SMEs with tools to attract investment through a comprehensive Investment Readiness Framework. This was backed by technical assistance and mentorship, which helped companies improve transparency, governance, and long-term planning.
The results were tangible. Five high-growth SMEs secured a combined $2 million in new funding, while four others signed export contracts that opened doors to both African and European markets. ACET also partnered with the Rwanda Development Board on research that mapped out export opportunities in Ghana for Rwandan producers, including dairy, organic pesticides, and fintech services.
Beyond investment and markets, ACET placed sustainability and inclusivity at the heart of its strategy. Nearly a third of the supported SMEs were women-led businesses that received targeted coaching to sharpen competitiveness. Other firms were guided in adopting sustainable practices such as energy-efficient production, waste reduction, and responsible sourcing, not only cutting costs but also meeting rising international standards on environmental and social governance.
Several businesses became success stories in their own right. Sky 3 Investment in Kintampo leveraged new funding to expand production. Groital Limited secured a larger facility to prepare for global expansion. Saliscom diversified its products and boosted exports, while Homefoods Processing modernized operations to increase sales. Solar Taxi, meanwhile, attracted new investors to scale its eco-friendly transport business.
But ACET’s ambitions for 2025 go beyond individual enterprise wins. The organization has signaled its intent to strengthen advocacy for SME-friendly regulations across Africa and ensure that private sector perspectives are fully reflected in national economic strategies. As part of this, it will hand over a dedicated SME support program to the Rwanda Development Board, providing a blueprint for sustainable sector growth.
For ACET, the mission is to make SMEs not just participants in Africa’s economic growth, but drivers of it. By bridging the gap between policymakers and business operators, the think tank hopes to build a business environment where small enterprises can innovate, compete, and expand beyond local markets.
