Green Growth: GHISP’s Pledge to Empower SMEs through Climate Financing

The Ghana Investment Support Programme (GHISP) has taken a bold step toward fostering sustainable development by connecting underserved small and medium enterprises (SMEs) in Ghana with crucial capital providers.

In collaboration with British International Investment, Pangea Africa, Climate Policy Initiative, and Ghana Venture Capital, GHISP organized a stakeholder engagement on Climate Finance Opportunities in Ghana and financing SME Agribusinesses in West Africa.

The event, held at the Marriott hotel in Accra on Wednesday, November 29, provided a platform for insightful panel discussions between public and private capital providers, and entrepreneurs.

The focus was on addressing ecosystem challenges around investing in underserved SMEs, particularly those engaged in climate-positive actions.

Senior Consultant David Tetteh highlighted the core objective of the engagement: to make capital providers understand the framework of climate financing and facilitate connections with enterprises that meet the criteria.

Tetteh emphasized the global push for businesses to adopt responsible practices, considering the environment, society, and proper governance.

The forum aimed to disseminate the findings of a research project funded by GHISP and conducted by Pangea Africa. John Scicchitano from Pangea Africa presented the research, revealing a significant lack of investment in private enterprises undertaking climate-positive actions.

The stakeholder engagement sought to bridge this gap between private enterprises and capital providers.

Scicchitano also called for gender-smart financing within the climate financing framework, urging capital providers to be gender-sensitive.

He emphasized the need to prioritize women-led enterprises, those with a significant female workforce, and businesses providing services to women in funding schemes.

The initiative aligns with GHISP’s commitment to responsible and sustainable business practices.

By encouraging funding for companies involved in climate-positive actions, GHISP aims to facilitate the growth of small and medium businesses and generate positive economic and climate impacts.