The UBA Ghana and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to support youth and women-led micro, small, and medium-scale enterprises (MSMEs) in Ghana.
The partnership was expected to scale up youth and women-led MSMEs, increase jobs, drive revenue, and contribute significantly towards the reduction of environmental footprint.
It would also help to access climate financing schemes and increase financial inflows from climate funding channels in order to support Ghana’s efforts to turn climate commitments into actions.
Through this partnership, the UNDP and UBA Ghana would co-develop and implement a suite of innovative programs and mechanisms to strengthen the institutional capacity of UBA Ghana to access climate financing schemes including the Green Climate Fund (GCF), a statement disclosed.
The Managing Director of UBA Ghana and Regional Chief Executive Officer of UBA West Africa, Chris Ofikulu, who highlighted the significance of the partnership, pointed out that the partnership was a welcome development as UBA Ghana specializes in providing innovative financing to businesses including SMEs.
He added: “Collaborating with UNDP demonstrates UBA Ghana’s commitment to supporting the Sustainable Development Goals (SDGs), with a particular focus on providing custom financial solutions and growth opportunities for businesses of all sizes to facilitate inter–and-intra-African trade”.
He explained that the businesses would also receive a tailored program of service support and capacity development in areas including corporate governance, branding, marketing, financial support, and product design/development to enable easier access to markets for their products and services. They will also be supported with energy efficiency audits and remedial actions to minimize their carbon footprints.
The UNDP Resident Representative in Ghana, Dr. Angela Lusigi, said, “The UNDP is working to influence the flow of resources towards development by encouraging investors and businesses of all sizes to embed the SDGs and Climate action into their analytics, decision making and business practices.”
The UNDP boss explained that the MOU would promote Inclusive, Resilient, and Green Entrepreneurship, by leveraging UNDP’s expertise in working with MSMEs and innovators, and UBA Ghana’s expertise in supporting businesses.
UBA Group is the leading financial institution in Africa with its extensive network of 1000 branches in 20 countries in Africa and over 31 branch networks in Ghana
