Ever wonder why some small African businesses break through while others stall? The African Center for Economic Transformation (ACET) believes targeted policy shifts and deeper public-private teamwork hold the key, especially for small and medium enterprises (SMEs).
In 2025, the influential think tank is significantly ramping up efforts to make SMEs central drivers of Africa’s economic transformation, not just participants.
ACET’s latest annual report details a more assertive agenda. It plans intensified collaboration with governments, financiers, and development partners across the continent.
The goal is clear: dismantle the stubborn barriers blocking SME potential, like scarce capital, tangled regulations, and weak market links. Despite forming the backbone of economies, these businesses often struggle to scale.
Ghana and Rwanda offer blueprints. ACET’s work there demonstrated the impact of focused support. In Ghana, its Business Transform initiative gave SMEs practical tools an Investment Readiness Framework backed by mentorship – to attract funding by boosting transparency and governance.
What changed? Five high-growth firms landed $2 million in new investment. Four others cracked export markets in Africa and Europe. Collaboration with Rwanda mapped new trade opportunities, linking Ghanaian buyers with Rwandan products like dairy and fintech services.
Success wasn’t just about money. Nearly a third of supported businesses were women-led, receiving tailored coaching. Others adopted sustainable practices like energy efficiency and waste reduction, cutting costs while meeting global standards.
Names like Sky 3 Investment, Groital Limited, Saliscom, Homefoods Processing, and Solar Taxi became local success stories, expanding production, facilities, exports, and attracting fresh investment thanks to the program.
But ACET isn’t stopping at individual wins. Its 2025 vision is systemic change. The organization will aggressively advocate for SME-friendly regulations continent-wide, ensuring business voices shape national economic plans. Handing over its successful Rwanda SME support program to the Rwanda Development Board provides a tangible model for sustainable, locally-led growth.
For ACET, the mission remains bridging the gap between policymakers and shop floors. Can they build the environment where Africa’s smallest firms innovate, compete globally, and truly transform economies? The Mahama administration’s focus on private sector growth suggests fertile ground in Ghana, at least, for this push.
