Spanish Chamber of Commerce offers consulting services to Ghana businesses

As part of the Spanish Chamber of Commerce’s pledge to provide training and consultancy services to domestic businesses in Ghana, the department has signed a memorandum of understanding with the Ghanaian government to train as many as 2000 young entrepreneurs in the country.

Ghana is looking to develop its business environment to become internationally competitive – a venture with which the Spanish government has offered to help. The new initiative, which comes under the Ghana Beyond Aid programme, is jointly funded by both governments, and is valued at just over $6.3 million.

On the Spanish side, the project to train 2,000 young professionals will be managed by the chamber of commerce, specifically through its Institute for the Creation and Development of Enterprise (INCYDE) foundation, which has a special agreement with the Ghanaian government’s Ministry of Business Development.

The deal between the two entities includes a long-term commitment on the part of INCYDE to offer training and consultancy services to small and medium local enterprises in Ghana. The support is aimed at increasing the levels of private sector investment in the country with hopes of driving up job creation.

As elucidated by the Minister of Business Development Mohammed Awal – who signed the agreement – most businesses in the country have trouble lasting beyond five years, primarily due to the fact that the quality in their goods and services lacks the ability to compete with international goods flooding Ghanaian markets. 

Under the programme, professionals will not only be offered state-of-the-art training services, but will also be offered the initial capital required to establish a business. Those who are not looking to immediately enter entrepreneurship will be incentivised to help train other young professionals in their regions.

Professional training will be provided through mentorships with established international firms in Spain, while the programme will be academically supervised by the University of Ghana Business School. The collaborative arrangement is hoped to promote a better diplomatic and economic relationship between the two countries.  

The partnership comes amid a number of efforts to improve the business environment in Ghana, particularly from international firms. The country has a high degree of political stability, which contributes to its attractiveness as an investment destination.