ACET champions SME growth with new policy drive across Africa
The African Centre for Economic Transformation (ACET) has unveiled plans to intensify its role in Africa’s business development in 2025, placing small and medium enterprises (SMEs) at the heart of policy reforms and public-private partnerships.
The think tank’s 2024 Annual Report outlines a strategy to deepen engagement with governments, development partners, and financial institutions to dismantle structural barriers hindering SME growth.
According to ACET, although SMEs form the backbone of African economies, they continue to face challenges such as limited access to finance, weak governance frameworks, and underdeveloped market linkages.
Over the past year, ACET recorded progress through its Private Sector Development programme in Ghana and Rwanda.
In Ghana, the ACET Business Transform initiative introduced an Investment Readiness Framework that equipped SMEs with tools to attract funding, supported by technical assistance and mentorship. This helped businesses improve transparency, governance, and long-term planning.
The initiative delivered notable results. Five high-growth SMEs secured a combined $2 million in funding, while four others signed export contracts that opened doors to African and European markets.
In Rwanda, ACET partnered with the Rwanda Development Board (RDB) to research export opportunities for Rwandan producers in Ghana, focusing on sectors such as dairy, organic pesticides, and fintech services.
ACET also emphasised sustainability and inclusivity in its approach. Nearly one-third of the SMEs it supported were women-led, benefiting from specialised coaching to boost competitiveness.
Other enterprises adopted environmentally sustainable practices, including energy-efficient production, waste reduction, and responsible sourcing. These steps helped reduce costs and align firms with international environmental and social governance standards.
Several beneficiary companies have emerged as success stories. Sky 3 Investment in Kintampo expanded production with new financing, Groital Limited secured a larger facility in anticipation of global expansion, and Saliscom diversified its product range while increasing exports.
Homefoods Processing modernised its operations to drive sales, while eco-friendly transport company Solar Taxi attracted new investors to scale up its services.
Looking ahead, ACET says it will intensify advocacy for SME-friendly policies across Africa and ensure that private sector voices are reflected in national economic strategies.
As part of this agenda, the think tank is transferring a dedicated SME support programme to the RDB, which it believes will serve as a model for sustainable growth across the continent.
ACET maintains that its mission is to position SMEs not merely as participants but as drivers of Africa’s economic transformation.
By bridging the gap between policymakers and business operators, the organisation hopes to create an enabling environment where small businesses can innovate, compete, and expand beyond local markets.
