GESP Project ends with EUR4.5m invested in agroprocessing sector in Ghana

The European Union funded Ghana Employment and Social Protection Programme (GESP) has ended with EUR 4.5 Million invested in small and medium agro-processing companies to attract investment, improve supplier linkages and increases exports.

The Project has contributed to inclusive growth in Ghana by helping to create formal jobs across the agri-business value-chain and to reducing poverty and increasing living standards. The programme has also helped agribusinesses to engage and negotiate with importers and prepare a roadmap to address key export-related issues (e.g., customs requirements, certification standards, and product development options).

Speaking at the closing event, EU Ambassador to Ghana, Irchad Razaaly said, “Today we have seen tremendous success with this project linking small and medium agro processors in Ghana to bigger markets within the West African Sub-region.”

The Project is part of the five-year GESP and focused on three components; investment promotion; business linkages and export to ECOWAS sub-region.

A representative of the Association of Ghana Industries said “The closure event confirms the satisfaction of all counterparts and beneficiaries in their own words and, therefore, effectiveness of the GESP programme and the Project thus far.”

The project Manager, Joao Monteiro Paes said “among many other important initiatives, we have organised business-to-business meetings with prospective buyers in Cape Verde and in Burkina Faso for Ghanaian agri-businesses. The success of these meetings with buyers has been tangible and encouraging. 1 trial order for supply of prepared foods has been secured, 4 commercial offers requested, and 2 proposals to sell as sole agents have been received; also, the agri-businesses have gained valuable first-hand experience of negotiating with commercial buyers for their products.”

About GESP

The Investment Promotion and Business Linkages Project implemented in partnership with the Association of Ghana Industries (AGI) is a component of the five-year Ghana Employment and Social Protection (GESP) Programme. Under this Programme, the EU mobilised EUR 26 Million. The total budget for the Investment Promotion and Business Linkages Project is EUR 4.5 million.

GESP Programme with its a holistic approach boosted the creation of linkages among social protection, employment, skills development and investment promotion areas at national, regional and district level.

The Investment Promotion and Business Linkages Project has contributed to inclusive growth in Ghana and by helping to create formal jobs across the agri-business value-chain reflects the importance of the agriculture to Ghana in terms of output and employment and to reducing poverty and increasing living standards.

The Project worked around three main areas:

• Investment promotion to boost investment in agribusiness. The project promoted the use of equity and quasi equity instruments as a source of relatively low cost for long term funding to enterprises in the Ghanaian SME agribusiness sector.
• Business Linkages to promote linkages in the agri-business value chain between large and small and medium size companies;
• Export promotion to foster ECOWAS export opportunities to fairly mature agro-processing companies.