Policy to advance social enterprise growth before Cabinet

Cabinet is considering a policy document intended to encourage social enterprises among the youth towards the achievement of the Sustainable Development Goals (SDGs).

The document which is the Ghana Social Enterprise policy upon approval will deliver the regulatory, administrative, institutional and legal framework for the progress of the social enterprises.

This was revealed by the Chief Executive Officer of Social Enterprise (SE) Ghana, Ms Amma Lartey at a sensitisation event in Accra on the theme “The Need for Impact Investing Funds and Actions.”

“This policy is designed within the context of the Coordinated Programme of Economic and Social Development Policies and aligned with the SDGs and other development programmes and strategies that seek to develop a thriving private sector and robust SMEs,” she told Graphic Business.

“There is an emerging social enterprise sub-sector that has grown consistently over the years, but at a slow pace. This policy is, therefore, expected to become a major driver of innovative local led or owned businesses whose strategic objectives include addressing sustainable development challenges, increasing productivity and contributing to building resilient communities and local economies,” Amma Lartey explained.

Additionally, the policy will focus on supporting Small and Medium Scale Enterprises (SMEs) that play a primary role in developing communities within the social enterprise sub-sector of Ghana's economy.

However, Amma Lartey declared that SE Ghana worked in partnership with the Ministry of Trade and Industry (MoTI) in developing the social enterprise policy document.