Ghana is exploring potential membership in the African Guarantee and Economic Cooperation Fund (FAGACE) as part of efforts to expand financing for small and medium-sized enterprises and accelerate industrial development.
A delegation from Rwanda, led by Eric Nkusi Bukeye, visited the Ministry of Trade, Agribusiness and Industry in Accra to engage officials on opportunities for Ghana under the regional financial institution.
Discussions centered on access to guarantees, loans, and grants that FAGACE provides exclusively to member states. The institution offers both individual and portfolio guarantees designed to de-risk investments, improve credit availability, and help SMEs transition from informal operations into structured, formal businesses.
Deputy Minister for Trade, Agribusiness and Industry, Sampson Ahi, said Ghana’s decision to join rests with the Ministry of Finance, which will provide the necessary policy direction. He noted that the Ghana Export-Import Bank would likely serve as the lead implementing agency, while the Ghana Enterprises Agency would facilitate engagement with SMEs nationwide.
Ahi noted that the Ministry will support the process by creating an enabling environment and coordinating strategic collaborations, urging FAGACE to formally engage the Ministry of Finance to determine next steps, including agency designation for implementation.
The visit aligns with broader push to strengthen regional partnerships and expand access to finance for agribusiness and industrial sectors, supporting the country’s transition toward a more structured, export-driven economy.
