Value of SMEs in ICT, healthcare estimated at $39 million

The value of Small and Medium-Scale Enterprises (SMEs) investments opportunities that exist in the country in the areas of Information Communication Technology (ICT) and healthcare is estimated at $39 million as of September this year.

This is contained in the Sustainable Development Goals Investor Map which has been initiated by the United Nations Development Programme (UNDP), to help steer capital into inclusive and sustainable investments in key economic sectors.

The SDG Investor Map which provides market intelligence for private sector investors to channel finance towards development needs, the attainment of the SDGs, and national priority sectors, further said the investment opportunities in the SME in ICT and health could be increased to $15.5 million.

Speaking at the first breakfast meeting on the SDGs Investor Map utilisation, the Chief Executive Officer of Ghana Investment Promotion Council (GIPC), Mr. Yofi Grant, said, “as a nation seeking development and the attainment of the SDGs, we are recognising the need for a new global development strategy which called for stronger public-private partnerships to overcome the pre-existing yearly SDG financial gap of $200 billion in Africa.”

He said the government and the GIPC would actively support and guide investors who seek to invest in any of the priority sectors outlined in the SDG Investor Map to propel national development.

Organised by the GIPC, in collaboration with the UNDP, the goal was to help channel investments into major investment opportunity areas identified in the SDG Investor Map for Ghana.

Mr. Grant said, “Enormous opportunity exists in the ICT sector and health sector that prospective investors can tap into to make profitable gains while making positive contributions to society, the environment, and the economy at large.”

The UNDP Resident Representative in Ghana, Dr. Angela Lusigi, noted that the SDG Investor Map Pipeline Builder tool, an intermediary that streamlined the investment origination process to drive more capital to SDG, focused SMEs in emerging markets, had successfully identified a base value of USD 39 million worth of SME investments in Ghana.

She pledged UNDP’s continued commitment and support towards making Ghana an investment destination of choice, and to support the SDG Investor Maps as a vehicle for strategic development investment.

“We know that the task to bridge Ghana’s current SDG financing gap of approximately USD 43 billion a year is daunting. However, we remain resolute in our quest to support the mobilization of innovative financing for the implementation of the SDGs,” noted Dr. Lusigi.

The meeting saw a gathering of industry stakeholders and investors to discuss how to mobilise and channel capital into the development of the two sectors.

Institutions present at the event included the Ghana Medical Association, Ministry of Health, Ghana National Chamber of Pharmacy, Pharmaceutical Manufacturers Association of Ghana, the Ghana Pharmaceutical Chamber, Pharmacy Private Sector Hospitals, ICT firms, Members of the Chamber of Telecommunications, Financial institutions, as well as government agencies such as Ghana Free Zones Board and the Ghana Export Promotion Authority.

BY KINGSLEY ASARE

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