Accra: The German Development Cooperation, in collaboration with the Association of Ghana Industries (AGI), has successfully concluded the African SME Network for Exchange and Trade (AfNEXT). This initiative focused on enhancing the production capacity and export readiness of Ghanaian small and medium-sized enterprises (SMEs) by providing essential equipment and technical support. Over 50 SMEs across Ghana benefited from the program, which led to increased production capacity and better market access for the participating businesses.
According to Ghana News Agency, the project was backed by the Special Initiative 'Decent Work for a Just Transition', operating under the brand Invest for Jobs. It was funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Deutsche Gesellschaft fr Internationale Zusammenarbeit (GIZ) GmbH, among others. AfNEXT aimed to address the significant financing gap faced by SMEs in Sub-Saharan Africa, which amounts to nearly $331 billion, with $4.8 billion attributed to Ghana alone.
The initiative facilitated and co-financed the procurement of over 200 pieces of machinery and equipment for more than 50 beneficiary SMEs. This investment is helping these businesses increase their production capacity and efficiency. Additionally, the project provided training for key personnel in areas such as quality management, international marketing, and occupational safety and health, supplemented by customized in-factory coaching.
In cooperation with sequa gGmbH, the initiative allowed export-oriented enterprises to engage in joint learning and exchange sessions with companies from Egypt and Ethiopia. These enterprises also received support to attend trade fairs across Europe, Africa, and other regions, thereby enhancing their export opportunities and access to global markets.
The comprehensive support package, which included financial assistance for machinery procurement, training, technical support, and international exposure, is expected to accelerate business growth and create over 300 jobs. Mr. John Duti, Team Leader of Invest for Jobs at GIZ Ghana, emphasized the benefits of modern equipment in improving efficiency and reducing resource wastage, contributing to a more inclusive and eco-friendly economy.
Mr. Nathaniel Quarcoopome, Director of Finance and Administration at AGI, noted that the AfNEXT beneficiaries gained crucial skills in areas essential for modern business success. He highlighted the project's integrated support approach, which combines financial assistance with capacity building and international exposure, ensuring long-term growth and market access improvements.
Mrs. Philomena Dsane, Director of Policy Planning, Research, Monitoring, and Evaluation at the Ghana Enterprises Agency, praised AGI and its partners for their disciplined execution of the initiative. She suggested that the program's beneficiaries could serve as mentors within the Ghana Enterprises Agency's coaching and mentorship initiatives, ensuring the progress achieved is sustained and scaled across various value chains.
AGI CEO, Mr. Seth Twum-Akwaboah, reiterated the project's impact in combining financial assistance with capacity building and international exposure, ensuring not just immediate solutions but also long-term growth and enhanced market access for Ghanaian SMEs.