The United Nations Capital Development Fund (UNCDF), in partnership with the United Nations Resident Coordinator's Office, the United Nations Development Programme (UNDP), and the United Nations Conference on Trade and Development (UNCTAD), convened donors, investors, and financial service providers to present five market-ready digital financial solutions designed to expand access to finance for women entrepreneurs and youth-led micro, small, and medium enterprises (MSMEs) across Ghana.

Developed with support from the Joint SDG Fund Programme, the five solutions were presented during the event "Beyond the blueprint: putting digital finance to work for MSMEs” held to mark Micro, Small and Medium-sized Enterprises (MSMEs) Day. The event highlighted how digital innovation, catalytic finance, and strategic partnerships can address financing barriers facing women entrepreneurs and youth-led MSMEs.

MSMEs account for approximately 92 percent of businesses in Ghana, provide nearly 80 percent of employment, and contribute around 60 percent of the country's Gross Domestic Product (GDP). Yet many enterprises, particularly those owned by women and young people, continue to face significant challenges in accessing affordable finance due to stringent lending requirements, high interest rates, and limited collateral.

The event formed part of the Joint SDG Fund Programme on “Leveraging digital ecosystems for increased MSME productivity”, a three-year initiative that aims to strenghten Ghana's digital economy and improving access to financial services for underserved businesses.

Yaa Owusu-Amoah, Digital Ecosystem Specialist at UNCDF, presents the programme's integrated digital ecosystem approach. Photo: UNCDF.

Five innovative solutions ready for scale

During the event, five financial institutions competitively selected for the programme's first phase presented fully developed and tested digital financial solutions tailored to the needs of MSMEs. Fido is developing a digital lending product designed specifically for small businesses; Adehyeman Savings and Loans, in partnership with Oze, a Ghanaian fintech startup specializing in digital recordkeeping and financial services for MSMEs, is introducing rural savings and loan products supported by digital credit scoring technology; Mobile Money Limited is developing merchant services and digital bookkeeping solutions for MSME agents; Solis Finance is building a digital savings and loans platform targeting informal enterprises; and Opportunity International is expanding microfinance products tailored for women and youth-led businesses.

The solutions were developed to address key barriers that limit MSMEs' growth, including access to credit, financial management, savings opportunities, and business expansion support.

Participants from financial institutions, fintech companies, development partners, government and the private sector at the event. Photo: UNCDF.

Moving from innovation to impact

Following the design and validation phase, the programme will now support selected solutions to move into implementation and prepare for scale.

Under the next phase of the programme, the two top-performing institutions will each receive up to $200,000 in catalytic funding to pilot and expand their solutions. The funding will help the institutions test their approaches in the market, generate evidence of commercial and development potential, and position successful solutions to attract additional investment.

The event also provided a platform for donors, investors and development partners to explore opportunities to support the implementation and scale-up of the solutions.

For thousands of entrepreneurs operating within Ghana's informal economy, improved access to finance can enable them to invest, expand their businesses, create jobs and strengthen local economic growth.

Shaima Hussein, Deputy Resident Representative, United Nations Development Programme (UNDP) Ghana, delivers opening remarks. Photo: UNCDF.

Building a more inclusive digital economy

As Ghana continues its digital transformation journey, initiatives such as the Joint SDG Fund Programme demonstrate how policy support, ecosystem development and catalytic capital can enable financial institutions and fintech companies to develop products for market segments that remain underserved by conventional financial systems.

By bringing together financial institutions, technology providers, development partners and investors, the initiative is helping move promising digital finance solutions beyond design and towards practical use by Ghana’s women entrepreneurs and youth-led MSMEs.