Kwahu: Ms. Margaret Ansei, Chief Executive Officer of the Ghana Enterprises Agency (GEA), has underscored the role of technology in transforming Ghana’s economy. She urged businesses to embrace digital tools to increase productivity and reduce operational waste.
According to Ghana News Agency, Ms. Ansei, speaking at the Kwahu Business Forum, emphasized that the success of Ghana’s much-touted 24-hour economy policy hinges on efficiency and innovation, particularly among Micro, Small, and Medium Enterprises (MSMEs), which account for over 90% of businesses and employ approximately 80% of the country’s labor force. She noted that implementing a 24-hour economy without addressing inefficiencies would be an expensive endeavor. A recent GEA pilot using a Digital Enterprise Performance Management Tool revealed significant operational losses among beneficiary enterprises, with losses up to 17.9% in sales and 28% in productivity.
Ms. Ansei explained that these losses are not just financial but stem from deeper inefficiencies such as performance, availability, and quality losses. She highlighted the agency’s partnership with UNIDO to develop digital tools that help MSMEs collect real-time data, track key performance indicators, and reduce waste. The U-SPARK Project was cited as a game-changer, providing SMEs with the digital capacity to diagnose problems and enhance production lines, leading to a reported 36% improvement in overall efficiency through reduced quality losses.
The GEA boss also touched on broader initiatives under the RESET AGENDA, which includes tailored funding for women, youth, and persons with disabilities, digitization programs for disabled entrepreneurs, and efforts to formalize businesses through the Rural Enterprises Programme. Ms. Ansei reiterated the agency’s commitment to aligning with President John Dramani Mahama’s vision of a 24-hour economy by ensuring that MSMEs are equipped with the necessary tools to thrive.
Ms. Ansei concluded by affirming GEA’s role as an irreplaceable pillar in the sustainable development and promotion of MSMEs in Ghana. The agency plans to continue rolling out innovative interventions to build a thriving and prosperous Ghanaian business ecosystem.
The Kwahu Business Forum gathered key stakeholders in Ghana’s private sector, financial institutions, government officials, and development partners to discuss practical solutions for industrial transformation and inclusive economic growth.
