Over 1,000 Ghanaian SMEs Prepared to Benefit from AfCFTA

More than 1,000 Ghanaian small and medium-sized enterprises (SMEs) have been screened and supported to take advantage of opportunities under the African Continental Free Trade Area (AfCFTA), according to the Ministry of Trade, Agribusiness and Industry.

Benjamin Asiam, Acting Head of the National Coordination Office at the ministry, disclosed that the initiative forms part of Ghana’s broader strategy to help local businesses compete effectively within Africa’s single market.

Speaking during a discussion on how Ghanaian businesses can succeed under AfCFTA, Mr. Asiam explained that the programme identified businesses already exporting within Africa, companies exporting outside the continent with expansion potential, and local manufacturers capable of serving regional markets.

According to him, the selected SMEs received capacity-building support in key areas needed to improve their competitiveness and readiness for international trade.

He noted that the programme forms part of a wider national framework developed to guide Ghana’s participation in AfCFTA and ensure local businesses are positioned to maximise the benefits of the agreement.

The initiative was later complemented by the Guided Trade Initiative, which allowed Ghana and seven other African countries to test AfCFTA trading arrangements and facilitate cross-border commerce.

AfCFTA is expected to create one of the world’s largest free trade areas, giving businesses access to a market of more than 1.4 billion consumers across Africa.

Industry stakeholders believe that with the right support, Ghanaian SMEs can significantly increase exports, create jobs, and contribute to economic growth through regional trade.

Source: BusinessGhana