The World Bank is providing funding support to the Government of Ghana for the implementation of the Ghana Economic Transformation Project (GETP). The objective of GETP is to promote private investment and the growth of enterprises in the non-resource-based sectors of the economy. The Government of Ghana, through the GETP is providing technical assistance and financial support to selected SMEs under the High Growth SME Programme for qualifying SMEs. The overall aim of the grant scheme is to support SMEs with a high potential of implementing productivity and competitiveness enhancing initiatives to accelerate their growth. The Programme will provide general training, targeted capacity upgrade, consulting and financing to qualifying SMEs. The Ghana Enterprises Agency as the implementing agency of the grant scheme is inviting eligible High Growth Enterprises to apply.
A sum of about US$20 million (cedis equivalent) has been earmarked for the flagship grant programme targeting SMEs nationwide, for generic training, capacity upgrades, and grants.
The Grant Programme’s support from the GEA is expected to culminate into job creation and job sustainability. Further, SMEs will transition into the next stage of growth, thereby improving their ability to increase sales and exports. The SME Growth Grant Programme will entail technical assistance for up to 2,000 SMEs on business management capabilities, productivity-enhancing improvements, and a replication of the soft skills acquired leading to a generally improved business operating culture among Ghanaian SMEs thereby enhancing competition and growth.