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East Africa Frontline News

NextFrontier Africa is a media platform spotlighting Africa’s emerging opportunities in technology, tourism, aviation, agriculture, health, logistics, real estate, trade, education, and e-commerce.

August 02.2025

2 Minutes Read

Harnessing Trade for Growth: Small Businesses in Ghana's Economy

Portrait of confident woman, symbolizing small businesses in Ghana's economy.

Revitalizing Ghana's Economic Landscape

In the vibrant heart of West Africa, Ghana is embarking on a transformative journey aimed at elevating its economy through the empowerment of small businesses. With over 60% of its population under the age of 30, the nation recognizes youth entrepreneurship as crucial for economic growth. Under the visionary leadership of Margaret Ansei, CEO of the Ghana Enterprises Agency (GEA), a new era of opportunities is dawning for micro, small, and medium enterprises (MSMEs).

Empowering Women and Youth

Ansei affirms that empowering women is foundational to building a robust economy. "If you want to build a country, you empower the women," she states. The GEA's initiatives include the innovative Mastercard Foundation’s Business in a Box program, which equips young entrepreneurs with essential skills and resources. The focus is not just on starting businesses but creating sustainable economic pathways through training and mentorship.

Creating Inclusive Financial Solutions

Financial access remains a significant barrier for many, particularly women, in Ghana. The introduction of the Ghana Women’s Development Bank aims to tackle this issue head-on, offering tailored financial solutions that help women overcome traditional obstacles like collateral requirements. Ansei emphasizes that the GEA is committed to growing alongside these entrepreneurs, ensuring they have not only the funds but also the financial acumen to thrive.

Looking Beyond Borders: The Role of Trade

As Ghana strengthens its MSMEs, the initiative aligns seamlessly with the African Continental Free Trade Area (AfCFTA) agreement, which aims to boost intra-African trade. Ramping up e-commerce and digital commerce platforms will harness new markets and diversify income streams for local businesses. As these small enterprises flourish, they will contribute significantly to cross-border trade, propelling Ghana's economy onto the global stage.

Actionable Insights for Entrepreneurs

For entrepreneurs and businesses looking to capitalize on these initiatives, staying informed about available resources, such as the Ghana Mall that promotes GEA-supported products, can provide essential avenues for expansion. Additionally, understanding the intricacies of the digital economy will be vital for accessing new markets.

As Ghana strides confidently into this new era, the synergy between the GEA’s efforts and the broader economic landscape highlights an exciting opportunity for both local and international stakeholders. Together, they can help to create a thriving ecosystem that not only enhances Ghana's trade standing but also uplifts its communities.

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Harnessing Trade for Growth: Small Businesses in Ghana's Economy

Revitalizing Ghana's Economic Landscape

Empowering Women and Youth

Creating Inclusive Financial Solutions

Looking Beyond Borders: The Role of Trade

Actionable Insights for Entrepreneurs

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