The government has launched a One Hundred Million Cedi grant funding initiative for trading and capacity upgrading of a high-growth minor, small and medium-scale enterprises, MSMEs owned by women and young individuals.
The World Bank and the government are supporting and funding the initiatives through the Ghana Economic Transformation Project (GET-P), which will give grants totalling 40 million cedis to women operating MSMEs and 60 million cedis to young people between the ages of 18 and 35.
KT Hammond, the Minister of Trade and Industry, said at the initiative’s launch that the programs are in line with the government’s intention to offer funding, capacity-building assistance, and training to support businesses as they scale up and move MSMEs into the next stage of growth, enhancing their capacity to boost sales and start exporting.
According to him, the initiatives give the Ghana Enterprises Agency’s management and board another chance to support young Ghanaian entrepreneurs who are working to expand sustainably and formally establish their companies as well as Ghanaian women working in MSMEs.
