UNCDF in Ghana

Leveraging Digital Ecosystems for Increased MSMEs’ Productivity” initiative (2024–2027)

In Ghana, UNCDF is working to unlock growth for youth- and women-led MSMEs by building a more inclusive digital financial ecosystem. Through the Joint SDG Fund programme Leveraging Digital Ecosystems for Increased MSME Productivity, UNCDF partners with banks, savings and loans institutions and fintechs to design and bring to market digital finance solutions tailored to small businesses from digital lending and savings products underpinned by alternative credit scoring, to merchant payments and digital tools that help enterprises build the financial records they need to access credit. Five market-ready solutions have been developed to date, expanding access to capital, strengthening productivity and opening new market opportunities for MSMEs.

Expanding access to trade finance for SMEs

Since 2026, UNCDF has been implementing the SME Trade Finance Facility (STFF) globally in partnership with the International Trade Centre (ITC), the European Commission (EC), and the Organisation of African, Caribbean and Pacific States (OACPS). The initiative addresses the persistent trade finance gap that limits the ability of small and medium-sized enterprises (SMEs) to participate in regional and international trade.

The programme combines technical assistance, catalytic financing, and support to financial institutions and policymakers to strengthen the trade finance ecosystem. It promotes innovative financial products tailored to the needs of SMEs, enhances business readiness to access finance, and supports a more enabling environment for trade. By expanding access to trade finance, particularly for women-led and export-oriented enterprises, STFF aims to strengthen value chains, boost competitiveness, create jobs, and foster more inclusive and resilient economic growth.

EU-Ghana Pact for Skills: Support Tertiary Education for Sustainable Employability” (2024–2028)

The EU-Ghana Pact for Skills – Tertiary Education (SO3) is a four-year (2024–2028), EU-funded programme implemented by UNCDF to improve tertiary students’ transition into employment, particularly in Ghana’s green and digital sectors. UNCDF leads implementation, partnership coordination, technical assistance, monitoring, and institutional strengthening, working with GTEC, six partner universities, IBM SkillsBuild, E4Impact Foundation, government and private-sector stakeholders.

By Year 2, 6,718 students had completed digital skills training through IBM SkillsBuild, 5,354 students received employability support, and 78% of surveyed beneficiaries reported satisfaction. The programme also established/strengthened 24 Programme Advisory Committees, operationalized the National Advisory Group, and expanded entrepreneurship and innovation support across participating universities.

Financing locally led adaptation

UNCDF supports locally led climate adaptation in Ghana through Performance-Based Climate Resilience Grants (PBCRGs) under the Local Climate Adaptive Living Facility (LoCAL), which channels climate finance directly to local governments and communities. Following a pilot phase completed in 2019 and implementation under the EU-funded GrEEn Programme, support was further scaled through the Norway-supported LoCAL-ACE initiative focused on climate-smart agriculture and circular economy solutions.

To date, LoCAL-ACE has completed two PBCRG cycles, disbursing more than $1 million for climate-resilient investments including cassava processing facilities, organic waste composting and biofertilizer production, and irrigation dams for agricultural communities. These investments strengthen local economies while supporting Ghana’s Nationally Determined Contributions under the Paris Agreement.

Since 2019, more than 70 climate-resilient infrastructure projects have been completed across 13 districts, creating 2,371 short-term jobs. Participating local governments have also strengthened climate planning and fiscal management through Annual Performance Assessments. Ghana is now preparing to expand these investments into drought-vulnerable northern regions.

Enabling Ghana’s first investment crowdfunding guidelines

UNCDF, in partnership with the Ghana's Security and Exchange Commission, supported the development of the country's first Investment Crowdfunding Guidelines. This landmark initiative aims to unlock the potential of crowdfunding as a viable financing option for MSMEs and startups in the country, while ensuring investors’ protection, by providing a regulatory framework and addressing critical gaps that have hindered the growth of innovative investment mechanisms. These guidelines support the government's plan to crowd in and mobilize private sector investments that have development dividends.

The GrEEn Project: the foundation for today’s cooperation

The ‘Boosting Green Employment and Enterprise Opportunities in Ghana” (GrEEn), supported by the European Union, the Embassy of the Kingdom of the Netherlands in Ghana and UNCDF with SNV, closed in 2024 yet continues to provide the foundation for on-going UNCDF activities in Ghana.

With a budget of over $20M, the GrEEn Project created greater economic and employment opportunities for youth, women and Ghana’s population of returning migrants by promoting and supporting sustainable, green businesses in Ashanti and Western regions of the country over four years. GrEEn worked with 11 financial service providers (FSPs), ranging from banks to fintechs, and invested over $1.4 million in tailored services for more than 200,000 individuals previously excluded from formal financial services and solo entrepreneurs. For every dollar spent on results-based financing, an additional $3.30 was mobilized from general public, including diaspora contributions and local savings. By incentivizing FSPs to explore new products and channels, and by equipping them with the right tools and insights, GrEEn effectively lowered the barriers that traditionally blocked access to capital for MSMEs, which have been historically locked out of formal financial systems. 

The GrEEn project also implemented transformative climate resilient investments in 10 district assemblies through UNCDF’s Local Climate Adaptive Living Facility (LoCAL). Investments included flood resistant bridges and roads, access to potable water, construction of markets and a school rehabilitation, among others. Technical partnerships formed with Ghana’s National Development Planning Commission (NDPC) and the Environmental Protection Agency (EPA) mainstreamed climate change into planning and built capacity at the local government level. Some 403,524 people gained access to improved and climate-resilient infrastructure services whilst over 2,000 individuals benefited from skills training to enhance their employability and build their green or climate-smart businesses, which fostered local economic development.