Celebrating Progress in Financial Empowerment for MSMEs
A vibrant ceremony took place at the conference room of the Council for Scientific and Industrial Research (CSIR) Head Office in Accra, where the Ghana National Association of Garment Makers (GNAGM) celebrated the successful completion of a training program focused on improving access to finance for micro, small, and medium-sized enterprises (MSMEs). The event brought together members of the association, representatives from other trade associations, and GIZ officials, highlighting the achievements of a significant initiative under the GIZ Support to the Private and Financial Sector (PFS) Programme.
This capacity-building initiative targeted members of 13 national trade associations, including GNAGM, with the goal of enhancing their ability to manage their businesses more efficiently, promote growth, and improve their engagement with workers. The training emphasized key areas such as business operations, financial management, and risk assessment, enabling entrepreneurs to make informed financial decisions and improve their overall business practices.
The program was designed with inclusivity at its core. Out of the 2,909 participants trained across 13 trade associations, 778—representing 27 percent—were members of the GNAGM. Overall, the participant demographics included 54 percent women, 46 percent men, 17.4 percent individuals with disabilities, and 26.7 percent young entrepreneurs aged between 15 and 35. This diverse representation underscored the program's commitment to reaching a broad spectrum of the population.
The GNAGM ceremony served as a celebration of the positive impact of the initiative. Graduates were presented with certificates, and several shared how the training had transformed their approach to managing their businesses. Some noted that they had learned to save small portions of their income to expand their ventures, while others spoke about improved financial management and increased access to credit from financial institutions. Many also mentioned opening accounts and starting savings, which marked a significant step towards financial independence.
Supported by GIZ and funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the initiative aligns with Ghana’s national development priorities and Germany’s 2030 Agenda for Reform. It contributes to inclusive private sector growth, financial resilience, poverty reduction, and women’s economic empowerment, while supporting the United Nations Sustainable Development Goals (SDGs 8 and 10). These efforts aim to foster equitable, long-term growth and create a more sustainable economic environment.
As part of the broader PFS programme, GIZ Ghana continues to collaborate with financial institutions, regulators, and trade associations to create an enabling environment for MSMEs to thrive. A short documentary featuring beneficiaries’ stories and transformation experiences is available on social media platforms, offering a glimpse into the real-world impact of the initiative.
GIZ, as a provider of international cooperation services for sustainable development and international education work, has over 50 years of experience in various fields, including economic development, energy and the environment, and peace and security. The organization works with businesses, civil society actors, and research institutions, fostering successful interaction between development policy and other policy fields.
The German Federal Ministry for Economic Cooperation and Development (BMZ) is GIZ’s main commissioning party. Currently, GIZ promotes sustainable development in Ghana through approximately 50 programs and projects. Its activities focus on three priority areas: Energy and Climate, with an emphasis on renewable energy and energy efficiency; Training and Sustainable Growth for Decent Jobs; and Peaceful and Inclusive Societies, which focuses on good governance.
The PFS GIZ has been commissioned by BMZ to implement the Support to the Private and Financial Sector (PFS) Programme. The initiative aims to improve employment conditions in Ghana by supplementing the government’s efforts to enhance the framework for employment and income in the private sector, particularly among MSMEs. The program seeks to empower MSMEs to contribute to economic development by creating jobs and promoting an inclusive and sustainable MSME ecosystem in Ghana.