GIZ, stakeholders on course to advance inclusive business and green economy

Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) has partnered with the Association of Ghana Industries (AGI) and Ghana Enterprises Agency (GEA) to host Ghana’s maiden Inclusive Business (IB) and Inclusive Green Business (IGB) in Accra.

Funded by the German Cooperation through GIZ’s ‘Support to the Private and Financial Sector’ programme, this initiative is aimed at promoting sustainable business models that address economic, social and environmental challenges in Ghana.

An IB/IGB landscape study was adopted and used to screen more than 300 companies – through which 15 of them were identified and selected as those whose practices fulfil the criteria of inclusive and green business.

According to the study, more than 1.8 million low-income people are being reached by these companies – directly contributing to better livelihoods.

The IB/IGB aims to foster commercially viable business lines that not only enhance income and living standards for low-income groups but also solve environmental challenges through scalable and innovative solutions.

According to Dr. Dirk Assmann, Country Director-GIZ, during his speech at the event, the initiative’s goal is to promote IB/IGB that thrive economically and also uplift low-income families.

“These companies exemplify how business can be a force for good, generating profits while simultaneously enhancing environmental sustainability and improving the quality of life for individuals in need,” he highlighted.

Dr. Assman further stressed that IB/IGB embodies the principle of “doing well by doing good”, directly impacting the population’s poorest 40%.

He reiterated GIZ’s commitment to sustainable economic development and inclusive growth, expressing delight for having the opportunity to support the cause.

“I encourage all stakeholders to continue working together, as GIZ remains committed to supporting green and inclusive business models. Together, we can ensure Ghana’s business environment continues to grow inclusively, sustainably and beneficially for all.”

Chief Director-Ministry of Trade and Industry Patrick Yaw Nimo also highlighted the importance of inclusive and inclusive green businesses, noting that they are relevant for solving social and environmental situations.

According to him, promoting inclusive business and inclusive green businesses aligns with the guiding principles of Ghana’s Micro, Small and Medium Enterprises policy – which promotes equity in terms of opportunities for gender with a strong focus on women, the youth, vulnerable and disadvantaged persons.

Establishing the ministry’s commitment to this initiative, she said: ” The ministry is optimistic and will collectively work toward achieving developmental goals of creating employment, reducing poverty, improving access to capital and enhancing competitiveness.”

Seth Twum-Akwaboah, Chief Executive Officer-AGI, also reaffirmed their commitment to sustainability and pledged to educate all members to come on board and influence them into making it a part of their regular business activities.