Intelligently de-risking private sector finance for development objectives 

Although micro, small, and medium enterprises (MSMEs) form the backbone of both rural and urban economies in Ghana, their owners face persistent barriers to financial inclusion. Despite representing the vast majority of the country’s businesses, employment, and GDP, many MSMEs — particularly those in rural areas and those owned by women — operate informally, have limited access to financial and literacy skills training, and often resort to expensive instant digital loans or informal borrowing since traditional financial services remain out of reach. 

As its use continues to expand, artificial intelligence (AI) offers new possibilities to help close the gap between MSMEs and formal financial services, enabling small business owners to expand their operations, enhance productivity, and thrive. In Ghana, the UN Capital Development Fund (UNCDF) is leading the Leveraging Digital Ecosystems for Increased MSMEs’ Productivity project — a Joint SDG Fund-financed programme implemented together with UNDP and UNCTAD. Among other objectives, UNCDF is exploring how AI can be leveraged to catalyze and de-risk investment in innovative, AI-driven solutions to bridge longstanding gaps in access, affordability, and trust. 

Download the full article (PDF) 
Includes interviews, field insights from Kumasi and Takoradi, and examples of AI applications transforming Ghana’s financial landscape. 

Credits:

Technical writing: Jennifer Spencer 

Co-author: Yaa Owusu-Amoah