Published on 12 December 2024

Ghana: Achievements

Switzerland has been actively engaged in Ghana through its economic development cooperation for over 20 years. Throughout this period, Ghana has consistently been a priority country, with substantial investments in general budget support operations and the establishment of a growing cooperation office within the country. 

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Initially, Swiss contributions focused on supporting Ghana's well-structured poverty reduction plans but gradually shifted toward helping the country achieve and maintain middle-income status. This evolution was reflected in the previous Cooperation Programmes.

The impact of SECO’s initiatives is evident in several success stories that demonstrate the tangible benefits of this cooperation throughout the years:

• Financial Sector Reforms

  Switzerland has laid the groundwork for leasing, movable asset-based lending, and the establishment of private credit bureaus, enhancing pension supervision through a risk-based approach. Sustainable banking principles are now widely adopted, showcasing the fruits of our efforts. Moreover, important strides have been made in digital payment solutions, culminating in one of the world's first dedicated digital financial services policies, which is well-regarded by both institutional stakeholders and industry players.

• Business Environment Enhancement

  Switzerland has played a key role in facilitating essential reforms, including the revision of the Companies Act, the establishment of the Office of the Registrar of Companies, and the implementation of a more robust insolvency regime. Additionally, the introduction of the RSPO standard has benefited smallholders in the palm oil sector. The agricultural sector has also thrived through dynamic agri-forestry approaches in cocoa production and initiatives focused on e-waste recycling

• Energy Access and Sustainability

  Switzerland has played a significant role in energy provision, connecting 11’000 households to the electricity distribution network and completing feasibility studies on biomass for power production. In education, the establishment of a joint master's program in mechatronics between ETH Zurich and Ashesi University has helped bridge the skills gap in Ghana's workforce

• Public Financial Management

  Through its commitment to Ghana's Public Financial Management reforms, Switzerland has contributed to the adoption of International Public Sector Accounting Standards (IPSAS), developed comprehensive accounting policies, and trained over 2’500 public sector accountants. This collaborative effort has fortified the foundations for better governance and accountability, setting the stage for sustainable economic growth in Ghana.

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