What is Capital SME

Capital SME is aimed at boosting capital market activity in Ghana by encouraging businesses to list on the Ghana Alternative Market (GAX). Our target audience are small and medium size enterprises (SMEs) operating in Ghana. We aim to provide these SMEs with access to information on how capital markets work; how the GAX works; stories about SMEs in Ghana who have already listed and links to partner organisations that can help SMEs decide if they are ready to list on the GAX.

SMEs comprise an overwhelming majority of registered businesses in Ghana and span both the formal and informal sectors. They are significant sources of employment and revenue and have the potential to stimulate growth in the economy. However, limited access to finance for SMEs who are ready to scale is constraining their growth. Small businesses need alternatives to credit financing to successfully develop and realise their true potential. Capital SME will connect small businesses with the capital that they need to grow and in doing so, stimulate capital market activity in the Ghana for wider economic development.

"Our key objective is help more SMEs decide whether to list on the Ghana Alternative Market (GAX)."

The GAX, administered by the Ghana Stock Exchange (GSE), was launched in 2013 to accommodate Ghana's SME business community. It operates as a parallel market to GSE's official lists and is specifically targeted at "businesses with potential for growth".

There are currently eight companies listed on the GAX. We aim to support an additional five SMEs to list within the first year of launching this website. That’s a sixty-three per cent increase in participation. We think we can do it – and here is how.

How We Work

Capital SME is an information, networking, and advocacy platform. Our research has revealed a dearth of advice for SMEs about accessing capital markets and a lack of public knowledge about the GAX. Capital SME seeks to fill this information gap.


Education and Information

This website has been designed to provide information to SMEs about how capital markets work and how the GAX works. It includes real case studies from SMEs in Ghana who have already listed. We have also included information and links to our partner organisations who can help SMEs decide if they are ready to list on the GAX.


Networking

Capital SME will serve as a platform for SMEs to connect with the institutions, both private and public, which will assist business owners in meeting the requirements for listing. Take a look at our partners to see who you can connect with.

In the future, organised events such as conferences, panel discussions, and business receptions will serve as additional, and more traditional, networking platforms.


Advocacy

We have engaged a range of important stakeholders from both the public and private sectors to support this initiative. Our partners are committed to the success of Capital SME.

Through working with our stakeholders we have direct access to the private institutions Ministries and agencies with a stake in Ghana’s capital markets. The will enable us to develop programmes and policies that are conducive to SME business growth and make it attainable for SMEs to list on the GAX.

Our Partners


capital sme
capital sme
capital sme
capital sme
capital sme
capital sme
capital sme
capital sme
capital sme
capital sme
industry: Public sector - diplomacy
British High Commission

Who We Are:
The British High Commission in Ghana is responsible for developing and maintaining relations between the UK and Ghana. We represent the British government and deal with a wide range of political, commercial, security and economic issues of interest to both countries.

Capital SME has been developed through the Foreign & Commonwealth Office’s Africa Prosperity Fund , which has an overarching theme of “Improving the Business Environment in Sub-Saharan Africa”.


Read More
capital sme
industry: Financial Services
InvestCorp Asset Management Ltd.

Who We Are:
InvestCorp is an investment banking and asset management firm. Our business is to invest on behalf of our clients – individuals, companies, institutions and governments. Our uniqueness is a dedicated focus on our clients in a way that blends innovation with tradition. We welcome our target clients to work with us in creating a better financial future and sustainable businesses.


Read More
capital sme
industry: Financial services – private sector
Databank Financial Services

Founded in April 1990, Databank’s mission is to empower its customers to achieve financial independence by promoting financial literacy and offering a diverse range of investments products. To deliver on our mission, we provide innovative and responsive corporate finance, brokerage, fund management and research services to local and foreign individuals, multinational companies, institutions and portfolio investors for the ECOWAS sub-region. We also assist those who are looking for private equity financing through our private equity group.


Read More
capital sme
industry: Private sector – banking
Barclays

Who We Are:
Established in 1917, Barclays Bank of Ghana Limited is remained a leading financial services provider with a well-established local presence. Barclays Ghana is a member of the Barclays Africa Group Limited (BAGL), which is majority-owned by Barclays Bank PLC. Barclays Africa Group is one of Africa’s major financial services institutions offering personal and business banking, credit cards, corporate & Investment banking and wealth management as well as bancassurance. We combine our global expertise and product knowledge with the rich experience and appreciation of the local environment to bring the best of banking to our people, like no other.


Read More
capital sme
industry: private sector
Ghana Stock Exchange

Who We Are:
The Ghana Stock Exchange since 1990 has been gradually facilitating the development of capital market in Ghana. The Exchange has put in place facilities for businesses and the Government to raise long-term capital as well as for investors to obtain liquidity, reasonable capital safety and diversity of investments. Since its establishment, many companies as well as the government have raised funds through the floatation of company shares to the general public.


Read More
capital sme
industry: Public sector – financial services
Securities & Exchange Commission

Who We Are:
The Securities & Exchange Commission (SEC) is responsible for ensuring transparency and compliance in the Ghanaian securities market, and promoting integrity in the activities of all participants through adherence to the Securities Laws. SEC acts as a supervisor and regulator over the market. We work to protect investors by educating them, along with policy makers and market operators, of their respective rights and obligations.


Read More
capital sme
industry: public sector
Ministry of Finance and Economic Planning

Who We Are:
The Ministry of Finance, as the sector ministry for the financial sector, has a mandate to ensure the growth, development, and stability of the financial system. In carrying out this mandate the ministry as a central agency collaborates with relevant ministries, departments, and agencies (MDAs) through various initiatives and interventions.


Read More
capital sme
industry: Business services – public sector
National Board for Small Scale Industries

The National Board for Small Scale Industries (NBSSI) is the apex governmental body for the promotion and development of the Micro and Small Enterprises (MSE) sector in Ghana. It was established in 1985 by an Act of the Parliament of the Third Republic of Ghana (Act 434 of 1981) because Government views the sector as having the potential to contribute substantially to the reduction of the high unemployment rate and to the growth of the economy of Ghana.


Read More
capital sme
industry: Financial Services – public sector
Venture Capital Trust Fund

The Venture Capital Trust Fund (“VCTF” or “Trust Fund”) was established by an Act of Parliament (ACT 680) in 2004 to provide equity and quasi equity financing to eligible Venture Capital Finance Companies (VCFCs) to support SMEs. A seed capital of GH22.4 million, representing 25% of the proceeds from the National Reconstruction Levy from 2003 through 2006 was then allocated to the Trust Fund.


Read More
capital sme
industry: Business services
Association of Ghanaian Industries

The Association of Ghana Industries (AGI) is a business association composed of over 1200 member organizations ranging in size from micro, small, medium, and large scale enterprises. Our members represent a range of industries. AGI acts as a voice for the manufacturing industries in Ghana. We are dedicated to advocating for policies that promote the development of industries, facilitating international trade throughout the sub-region, strengthening industry associations through networking and sharing information, knowledge, and experience.


Read More
capital sme
industry: Financial services – International organization
International Finance Corporation

Who We Are:
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. From July 1, 2014 to June 30, 2015, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.


Read More
capital sme
capital sme
industry: Non-profit sector
Techno Serve

TechnoServe is a non-profit organization that develops business solutions to poverty by linking enterprising people in the developing world to information, capital and markets. TechnoServe’s work is rooted in the idea that hardworking people can generate income, jobs and wealth for their families and communities. Having worked in more than 40 countries across Africa, Latin America, and Asia, and with more than four decades of proven results, TechnoServe believes in the power of private enterprise to transform lives.


Read More