New Climate Finance Knowledge Hub opens up opportunities for financial institutions and MSMES in Ghana

Innovative ideas are needed to protect the climate. However, sustainable financing in this area is necessary to implement them.

For this reason, the Ghana Microfinance Institutions Network (GHAMFIN), together with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), had the idea of setting up a Climate Finance Knowledge Hub (CFKH) back in 2019. Today, the idea has finally become a reality and the event to launch the CFKH took place in Accra under the title “Climate Finance Knowledge Hub - Enhancing Climate Finance for MSME Growth in Ghana”.

Through the knowledge hub, Microfinance Institutions (MFIs) and climate-smart enterprises now have access to a comprehensive e-learning platform that provides specialized training, certification, and technical expertise in climate finance.

In addition, CFKH has an extensive online directory that connects users to a global network of recognized climate and green finance groups and companies, enabling collaboration. The platform also facilitates access to climate funds and simplifies the process of securing financing options for green projects - with features such as value chain analysis, risk assessment, institutional certification, and detailed reporting.

Dr. Christian Jahn, Head of GIZ Ghana's Private and Financial Sector Support Programme (PFS), who officially launched the Hub, said in his speech: "As an organization strongly committed to sustainable development, we are proud to partner with GHAMFIN in the development and launching of this Climate Finance Knowledge Hub. This initiative represents an important milestone in our joint efforts to drive climate resilience and innovation in Ghana's financial sector."

An opportunity for microfinance institutions and MSMEs

Representatives from the Ministry of Finance, the Ministry of Environment, Science, Technology and Innovation, the Ministry of Trade and Industry, the Development Bank Ghana and the Centre for Climate Change and Sustainability Studies at the University of Ghana were joined by the Deputy Chief Executive Officer of the Development Bank Ghana, Michael Mensah.

He explained: "The Climate Finance Knowledge Hub is an important resource for Ghanaian microfinance institutions and MSMEs. It enables them to navigate the complexities of climate finance. We are convinced that this platform will drive sustainable growth and help create a more resilient and environmentally conscious business landscape in our country."

All stakeholders are confident that this initiative will encourage investment in climate-friendly projects, drive innovation and create a skilled labour force committed to sustainability and resilience. Ghana's international reputation will rise as a result and doors will open for new markets and business models.

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is implementing the Programme for the Promotion of the Private and Financial Sector (PFS) on behalf of the German Federal Ministry for Economic Cooperation and Development.

PFS aims to improve employment opportunities for Micro, small and medium sized businesses in Ghana. This is in line with the BMZ's focus on a just transition in climate efforts.