Supporting Entrepreneurs:Trade Minister Inaugurates Grant Committee to Provide Financial Assistance to SMEs

The Minister for Trade, Agribusiness and Industry, Hon. Elizabeth Ofosu-Adjare, on Wednesday, 16th July 2025, inaugurated the Grant Committee of the Ghana Economic Transformation Project (GETP) which is under the Ghana Enterprises Agency, at a brief ceremony in Accra.

In her remarks, the Minister acknowledged the presence of dignitaries and extended the Government’s gratitude to the World Bank for its financial support towards the implementation of the Project. She explained that the overarching objective of the Ghana Economic Transformation Project is to promote private investment and business growth in non-resource-based sectors of the economy.

“The Project seeks to strengthen a growth model that enables higher investment and productivity, particularly within sectors that are not dependent on natural resources,” she said.

She noted that Micro, Small and Medium Enterprises (MSMEs) continue to face significant challenges in the aftermath of the COVID-19 pandemic. To this end, several targeted grant programmes have been introduced under the Enterprise Growth component of the project to cushion and support SMEs across various demographics.

These include the COVID-19 Response Grant, designed to provide emergency liquidity to high-growth SMEs; the Women MSME Programme, which supports women-owned businesses; the PWD Enterprise Support Programme, which benefits businesses owned by persons with disabilities or those that employ them in significant numbers; and the Youth in MSME Programme, targeting entrepreneurs between the ages of 18 and 40.

The newly inaugurated Grant Committee is mandated to ensure that the SME Growth Grants become effective tools to enhance the productivity and competitiveness of SMEs operating in non-resource-based sectors. Hon. Ofosu-Adjare noted that although the Ghana Economic Transformation Project commenced in 2021 and is expected to conclude in November 2025, grant disbursements under the Enterprise Growth Programme, which began in 2023, are still ongoing.

In his remarks, the Chairman of the Committee, Mr. Stephen Kwaku Bonnah, expressed gratitude to the President for the trust reposed in them and thanked the Minister for her leadership. He assured that the Committee would work diligently to support the MSME sector and ensure that the objectives of the grant programme are fully realized.

Members of the Ghana Enterprises Agency Grant Committee include:
• Mr. Stephen Kwaku Bonnah – Pharmacist (Chairman)
• Ms. Margaret Ansei – CEO, Ghana Enterprises Agency (Member)
• Mr. Carl A. Bugase – Data and Systems Manager (Member)
• Mr. Yaw Sarpong – Chief Operating Officer & Head of Investment Banking, GEA (Member)
• Mr. Yiadom-Boakye Augustine – Finance Director (Member)
• Ms. Jewel Esi Kujawa – Director, Intersectoral Network Directorate, EPA (Member)
Additional nominations are expected from the Ministry of Finance and for the role of Committee Secretary.