Accra, May 28, GNA – The German Development Cooperation, in collaboration with the Association of Ghana Industries (AGI), has launched the African SME Network for Exchange and Trade (AfNEXT).

The AfNEXT initiative aims to increase the production capacity and export readiness of small and medium?-sized enterprises (SMEs) in Ghana with critical equipment and technical assistance.

In all, 52 small and medium-sized enterprises (SMEs) operating across the country have been selected to benefit from the programme.

This support is expected to lead to an increase in production capacity and improved access to markets of beneficiary SMEs.

While SMEs are critical for accelerating economic development and industrialisation, especially in the manufacturing sectors, they face diverse challenges, including access to finance for acquiring modern operational equipment/tools, market access and overall growth.

To address these, the AfNEXT project offers a combination of financial and technical assistance aimed at increasing the production capacity of selected SMEs through equipment support and improving their export readiness through training and consulting services.

Speaking on behalf of the GIZ, which is implementing the project on behalf of the German Federal Government, Mr. John Duti said AfNEXT would not only improve the capacities of Ghanaian SMEs but also support efforts toward creating more decent jobs to tackle the unemployment deficit facing the country.