Ghanaian small and medium-sized enterprises (SMEs) operating in green sectors have a new opportunity to access global carbon markets. ShEquity Partners, in collaboration with the Agency for Business and Economic Development (AWE) and Greentec Capital Africa Foundation, has launched a first-of-its-kind Gender-Smart Climate Technical Assistance (TA) Facility.

The Facility, open to SMEs in circular economy and waste valorisation, clean cooking, nature-based solutions, renewable energy, sustainable agriculture, and sustainable mobility, aims to equip businesses with the knowledge and skills needed to participate in carbon trading. Applications are currently being accepted until January 9, 2025.

According to Pauline Koelbl, Founder & Managing Partner of ShEquity, the initiative is a pilot program with plans to expand to Kenya, Nigeria, and other African markets by 2026. “We are excited to launch this pilot program…to advance carbon market frameworks in Ghana,” she stated, adding that unlocking Africa’s potential requires solutions that connect gender, climate, and finance.

Thirty SMEs will be selected to receive training on carbon market access and investment readiness. Fifteen will benefit from Carbon Opportunity Maps, while ten will be connected with potential investors and certifiers like Verra, Gold Standard, and I-REC. The top two performing businesses will receive USD 25,000 each to support the development of carbon credit project design documents (PDDs) and certification processes.

Christina Pfandl, AWE advisor in Accra, highlighted the project’s focus on fostering partnerships. “This pilot project underscores AWE’s commitment to driving sustainable economic growth by deepening cooperation between African and German stakeholders,” she explained. The facility aims to open pathways to carbon markets and build resilient partnerships.

The TA Facility is a key component of ShEquity’s broader strategy to “De-risking and Unlocking the Growth of Sustainable, Gender-smart Green SMEs in Africa.” It aligns with national and international sustainability goals, including the Paris Agreement and the United Nations Sustainable Development Goals (SDGs), addressing financing and capacity-building gaps for businesses prioritizing gender equality and climate resilience.

Interested SMEs can find more details and application instructions on the ShEquity website. The facility’s connection with the ShEquity Climate Fund also increases the likelihood of securing further investment for participating businesses.

Image Source: MYJOYONLINE