Source: Africa Publicity
A pioneering green business initiative in Ghana has achieved remarkable success, creating 104 new jobs and generating over GHȼ4.35 million in revenue within its first six months. The Green Business Competitions for micro, small, and medium-sized enterprises (MSMEs) is a collaborative effort between the German Development Corporation and the Ashesi University’s Ghana Climate Innovation Centre (GCIC).
The initiative has incubated 29 MSMEs across five regions, exceeding its one-year target. Participating businesses have received advisory services, technical assistance, and financial support to enhance sustainability, drive green job creation, and promote environmentally friendly practices.
The program aims to address Ghana’s unemployment challenge, with the Ghana Statistical Service reporting a 4.5% unemployment rate in the third quarter of 2023. It also supports MSMEs in Ghana’s green economy, helping businesses integrate sustainable and climate-adaptive models in line with Ghana’s Nationally Determined Contributions (NDCs) to combat climate change.
Speaking at the graduation ceremony of the first cohort, Dr. Christian Jan, Head of Programme, Support to the Private and Financial Sector (PFS) Programme at GIZ, emphasized the importance of sustainability in business growth. “The German Development Cooperation through GIZ’s mission is to support sustainable development in Ghana, and our efforts are aligned with priorities and international commitments to ensure businesses get access to the right networks, financing, and support to thrive,” he said.
The Executive Director of the Ghana Climate Innovation Centre, Ruka Sanus, added that the accelerator program would push businesses to think bigger, see beyond the familiar, and question long-held assumptions. “While funding is important, the real value of this incubator lies in the new knowledge to be gained, the networks that will be built, and the insights that could propel you into opportunities far beyond what you have imagined,” she said.
Kojo Mensah Adom, a Cohort 1 member and CEO of Grow It Green, highlighted the program’s impact on his business, stating that GCIC’s grant funding enabled them to invest in processing equipment and renewable energy solutions, fostering sustainable growth.
The Green Business Competition for MSMEs is funded by the German Development Cooperation through GIZ and implemented by the GCIC. The initiative promises to play a vital role in building a more resilient and prosperous future for Ghana, driven by a thriving green economy.
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