More than 6,000 Micro, Small and Medium Enterprises (MSMEs) across the country have benefitted from targeted financial and business-development support under the Support to the Private and Financial Sector (PFS) Programme, which officially closed on Thursday after three years of implementation.
The programme, implemented by GIZ on behalf of the German Development Cooperation in partnership with the Ministry of Finance, was launched in 2023 to improve access to finance, promote green growth, and expand employment opportunities for MSMEs.
Speaking at the closing ceremony, Dr Christian Jahn, Head of the PFS Programme, said the initiative directly reached over 6,000 enterprises through capacity-building, financial inclusion interventions, and green business support measures.
“We developed financial products together with financial institutions, reached about 6,000 MSMEs with our interventions, and created more than 550 jobs,” he said.
Through collaborations with 15 financial institutions, the programme supported the development of 25 innovative financial products tailored for MSMEs. This enabled 2,400 businesses, 74 percent women-owned to access new financing opportunities.
Beyond financial access, the programme strengthened the policy environment for MSME growth by contributing to the development of key frameworks, including Ghana’s Green Finance Taxonomy and the revised Microfinance Policy.
These policies are expected to boost sustainable lending and improve the regulatory landscape for small businesses.
The PFS Programme also promoted climate-smart and environmentally responsible models among MSMEs, resulting in the creation of more than 350 green jobs.
In addition, five regional networks for Inclusive Local Economic Development (NILED) were established to connect MSMEs with financial institutions, consultants, and other business service providers.
Dr Jahn said the results showed that MSMEs could make significant contributions to job creation and economic expansion when given the right support.
He stressed the need for continued collaboration between government, development partners, and the private sector to consolidate the gains.
Mr Wilhelm Hugo, NIED Cluster Coordinator, expressed appreciation to the Ministry of Finance and regulatory agencies for their role in ensuring the programme’s success.
Ms Cynthia Arthur, Head of the Capital Market Unit at the Ministry of Finance, commended the initiative for strengthening MSME capacity and supporting financing efforts.
She said the ongoing development of Ghana’s green finance taxonomy would further assist climate-smart MSMEs to produce sustainable goods and services.
Funded by the German Development Cooperation and the European Union, the PFS Programme has laid the foundation for a more resilient and inclusive MSME ecosystem.
Its interventions are expected to continue shaping Ghana’s economic growth and employment landscape.
