Description of impact
Small and Medium Enterprises (SMEs) anchor Ghana’s economic resilience, generating employment, driving local innovation, and contributing significantly to national productivity. Yet as global and regional markets increasingly pivot toward sustainable production, climate-aligned financing, and responsible business practices, Ghanaian SMEs' ability to participate in this transition remains constrained by systemic knowledge gaps, operational limitations, and resource constraints.This is a pioneering initiative conceived and funded by Access Bank Ghana, in collaboration with Birmingham City University (BCU), to develop an innovative Sustainability-Based Financing Model that supports SMEs in adopting environmentally responsible, socially inclusive, and well-governed business practices. This cutting-edge, first-of-its-kind baseline study is the first stage of this initiative and provides an empirically rigorous, data-driven understanding of SMEs' current readiness for sustainability-linked financing among SMEs, highlight significant gaps in awareness, policy clarity, and access to green financial products. Many respondents (more than 70 percent) report limited understanding of the benefits and instruments associated with green finance respectively, and more than half indicate that clear standards and guidelines are lacking. Familiarity with specific green finance instruments remains relatively low (less than 25 percent), suggesting the need for stronger capacity building and information sharing. Moreover, only a very small proportion (2.1 percent) of respondents have applied for or received green loans, indicating that the uptake of green financing remains limited. These findings underscore the need for clearer regulatory frameworks, improved awareness, and stronger financial mechanisms to expand green investment and support sustainable economic transformation.
The study is designed within a Randomized Controlled Trial (RCT) framework, where this baseline measurement establishes the starting point before any structured training is delivered. Post-baseline training will be provided, and outcomes will be evaluated at endline to understand behaviour, performance, and SMEs' adaptability to green finance. The outcomes of this study will inform Access Bank’s long-term strategy to scale green lending, strengthen SME ecosystems, position the Bank as a national leader in sustainability-driven financial innovation and to attract funding from international donors for the SMEs.
| Category of impact | Policy |
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