In Ghana, digital commerce solutions already existing tend to exclude micro and small informal enterprises (MSEs), the ones most impacted by the Covid-19 economic crisis. The Catalyst Fund inclusive digital commerce accelerator precisely wants to reinforce the financial resilience of informal MSEs.
Reinforce the financial resilience of informal MSEs
Managed by BFA Global, in partnership with the Mastercard Foundation and the Meltwater Entrepreneurial School of Technology (MEST) - a training program for technologic entrepreneurs -, the new Catalyst Fund Inclusive Digital Commerce Accelerator is a program aiming to scale digital commerce companies in Ghana to support the digitalization of the MSEs. It draws on lessons learned by the Catalyst Fund, a program launched in 2016, helping impacting startups that offer accessible and appropriate solutions in critical markets, especially in Africa.
"The program will be deployed for over two years and will improve the resources and financial resilience of MSEs in Ghana, impacted by the Covid-19 crisis, allowing access to e-commerce platforms and market", the project leaders explained in a press release.
"Micro and small enterprises are the base of the Ghanaian economy. They are also the most impacted by the Covid-19"
"Thanks to the inclusive digital commerce accelerator, we aim to get an impact on informal MSEs in Ghana that, and we saw it during the Covid-19 crisis, don't have any security net and their revenues are impacted as soon as the physical trade suffers," Maelis CARRARO, the Director of Catalyst Fund, explained. "MSEs are the base of the Ghanaian economy. They also are the most impacted by the Covid-19 crisis, jeopardizing incomes realized over the years. The acceleration of the access to market thanks to the digitalization and e-commerce platform offers MSEs the opportunity to develop and also to reinforce their resilience facing the pandemic," Nathalie AKON GABALA, Regional Head, West, Central, and North Africa at the Mastercard Foundation said.
4,3 million dollars has been provided for e-commerce development in the country.