Akufo-Addo launches SME Growth and Opportunity programme to support high-growth potential businesses

President Nana Addo Dankwa Akufo-Addo has launched the SME Growth and Opportunity programme.

The programme launched on Tuesday, July 16, is backed by a substantial GH¢ 8.2 billion funding package.

The initiative aims to empower small and medium-sized enterprises (SMEs) to overcome the barriers they face and unlock their full potential.

The SME G&O Programme will support high-growth potential businesses through the Ghana Exim Bank, Ghana Enterprises Agency (GEA), and Development Bank Ghana (DBG).

In a post on Facebook after launching the programme, President Akufo-Addo said, “SMEs are the backbone of our economy, contributing 70% to our GDP and making up 92% of businesses. By providing targeted financing solutions and technical assistance, we are laying the foundation for a stronger, more resilient economy.

“With GHS 700 million allocated to Ghana Exim Bank, GHS 230 million to GEA, and GHS 1.4 billion to DBG, we are ensuring that SMEs receive the financial support they need to expand, innovate, and create jobs. Additionally, the establishment of a Food Innovation Hub at the University of Ghana will provide vital resources for food industry SMEs to scale up production and meet export standards.”

The President further noted that the launch of the SME Growth and Opportunity programme is a call to action for all stakeholders—government, private sector, and international partners—to work together in creating an enabling environment for our SMEs.

He said through collaboration, the country can drive inclusive and sustainable growth, fostering a competitive and globally oriented SME sector.

“Let us celebrate the achievements of our SMEs and commit to addressing the challenges they face, as we build a vibrant economic future for all Ghanaians,” President Akufo-Addo urged stakeholders.