Ghana: SMEs’ capital raising gets significant boost

KPMG, PwC, and Deloitte, major players among the ‘Big Four’ professional service firms, have jointly initiated a campaign focused on enhancing advisory and tax services. The primary goal is to strengthen capital raising initiatives specifically tailored for Small and Medium Enterprises (SMEs) in Ghana.

In collaboration with the Ghana Venture Capital and Private Equity Association, the campaign receives support from the Ghana Investment Support Programme (GhiSP), facilitated by British International Investment.

The partnership signifies a transformative change in the realm of business advisory and tax services. It underscores the dedication of these industry leaders to fostering the growth of the private equity ecosystem and enhancing access to finance for SMEs.

As part of the campaign, KPMG, PwC, and Deloitte have made a collective pledge to provide increased accessibility to their services for SMEs looking to raise capital including all GVCA members, Fund Managers, and their portfolio companies. This initiative is set to have a profound impact as it empowers businesses with quality advisory and tax services that improve investment readiness.

GVCA has consistently advocated for the interests of its members and Ghana’s dynamic SME sector. This recent initiative further solidifies their commitment to equipping beneficiaries with the necessary tools to thrive in an increasingly competitive and globalized business environment.

Commenting on this collaboration, PwC, KPMG and Deloitte stated in a joint statement, “We are pleased to join GVCA in this campaign to promote improved access to quality advisory and tax services. By working with the Association and with GhISP, we aim to enhance the investor readiness of SMEs, serving as a catalyst to assist them in attracting capital for scaling”.

Hannah Acquah, CEO of GVCA, stated, “Private Equity and Venture Capital compels SMEs to establish stronger management and governance structures, navigate pervasive risks, and provide sustainable jobs while intentionally pursuing a double bottom line: providing returns for investors and fostering sustainable job creation. Having KPMG, PwC, and Deloitte join us means our members can navigate complex business challenges and reach new heights of success”.

Commenting on behalf of GhISP, David Tetteh, stated “we are excited to support this campaign, which is trailblazing at a global scale. The commitment of the top professional service firms to expand the accessibility of their services to SMEs will have a significant impact on supporting the growth and expansion of this important segment of the Ghanaian economy, while creating investment opportunities for capital providers.”.

For KPMG, PwC, and Deloitte, joining GVCA is more than just a collaboration; it is a declaration of their collective vision to promote the interests of the Ghanaian business community. This move reflects their dedication to fostering innovation, offering crucial support, and ultimately catalyzing the growth of SMEs in Ghana.