With the backdrop of how digital innovation has contributed to significant growth in lower-middle-income (LMIC) economies, we see the increasing adoption of technology in Africa and Ghana in particular. The past three years, though challenging in many ways due to COVID 19, has witnessed exponential growth in startup activity, while the SME space in Ghana still remains underdeveloped. Both startups and SMEs are not close to creating the level of economic transformation witnessed in upper-middle (UMIC) and high-income countries (HIC) and desired in low-income (LIC) and lower-middle-income countries (LMIC).
Our research aims to better understand the potential for increased tech entrepreneurship and innovation in Ghana. We attempted to find answers to the following questions: what is the current state of the startup and SME ecosystems in Ghana; what are the main challenges they face and what opportunities are there to support startups and SMEs to drive socio-economic progress in Ghana? We summarise our findings in this free report.