Accra, Ghana – August 2024 – The Ghana National Chamber of Commerce and Industry (GNCCI) met with Japan International Cooperation Agency (JICA) representatives to discuss the “Pre-Project Formulation on Industrial Promotion and Startup Ecosystem Enhancement under the AfCFTA in Ghana.” This project will strengthen Ghana’s private sector growth, leveraging the African Continental Free Trade Area (AfCFTA).
GNCCI, led by Chief Executive Mr. Mark Badu-Aboagye, and JICA representatives Ms. Shinobu Shimokoshi, Ms. Ryoko Hosono, and Mr. Samuel Attuah Yirenkyi, focused on identifying key sectors for development and proposing support projects. This initiative aligns with Ghana’s goal of becoming a major economic hub in West Africa, supported by its stable political and legal framework.
A significant part of the discussion focused on GNCCI’s role in supporting Ghanaian businesses, especially in navigating the complexities of export processes under the AfCFTA framework. The CEO of the Chamber highlighted its efforts in capacity building for Small and Medium-sized Enterprises (SMEs), aiming to enhance export readiness and competitiveness. This includes organising workshops, seminars, and providing tailored technical advice to businesses seeking to leverage AfCFTA benefits.
The conversation also delved into the dynamics of Ghanaian SMEs, identifying their potential and the challenges, such as limited access to financing, inadequate infrastructure, and a lack of technical expertise. GNCCI outlined its interventions to mitigate these challenges, including advocating for policy reforms, facilitating access to financial resources, and providing training and development programmes to enhance SME capacities. The discussions underscored the need for policy reforms that create a favourable industrial growth environment, such as manufacturing incentives, tax breaks, and infrastructure development.
JICA presented its strategies for industrial promotion, identifying specific industries that could drive economic growth under the AfCFTA framework. The discussions also covered creating a comprehensive map of Ghana’s startup ecosystem to identify key players, resources, and gaps. Additionally, support mechanisms for startups, particularly in the tech sector, were discussed, emphasising the need for financial, technical, and legislative support to help startups thrive.
This collaboration between GNCCI and JICA represents a step towards enhancing Ghana’s industrial capacity and startup ecosystem, ultimately contributing to broader economic development under AfCFTA. GNCCI remains committed to supporting Ghanaian businesses and SMEs in maximising their potential and achieving sustainable growth.
