By Francis Ntow, GNA
Accra, Sept 11, GNA – Industry, finance leaders and global partners have called for a shift towards an increase in private capital mobilisation as a guaranteed way to build a sustainable and competitive industrial base for Ghana.
They explained that Ghana’s objective to building sustainable business and attracting green finance that incorporated the country’s climate transition ambition could not be financed by public budgets and donor funds alone, calling for more private capital.
The stakeholders made call at the UN Global Compact Network Ghana summit in Accra on Friday, which brought together policymakers, financiers, technology providers and enterprises to deliberate on bridging capital for climate action and drive Ghana’s sustainable transition.
The summit highlighted recent policy steps, including the Bank of Ghana’s sustainable finance roadmap and the Ministry of Finance’s green finance taxonomy, which were noted as critical for creating a common language for businesses, banks and investors.
Speakers at the summit noted the importance of public budgets and Official Development Assistance (ODA) in funding Ghana’s climate ambitions, citing private capital as the missing link for bankable green projects.
They placed industrial competitiveness at the centre of Ghana’s sustainability conversation, indicating that sustainability was for profit, not charity, urging various private players, including investors to support green productivity.
The speakers also agreed that Ghana’s sustainable transition would depend on strengthening business capacity, providing accessible technical support, and convening partnerships that turn ambition into bankable projects.
Mr Tsonam Cleanse Akpeloo, the Greater Accra Regional Chairman, Association of Ghana Industries (AGI), said sustainability must move beyond slogans and translate into concrete business gains for manufacturers, with financiers supporting industries.
He explained that for Ghanaian industries, the conversation had shifted to how sustainable practices could reduce material waste, improve energy use and build resilience in operations, even though industries were constrained financially.
“We want to connect technical preparation to financing. That is why we are working with development banks, commercial banks and investment partners to help where projects are promising but not yet ready. The financing conversation must address affordability, repayment periods and when returns begin,” Mr Akpeloo said.
On their part he said practical support was underway through the AGI Energy Centre and an efficiency network, with support from a World Bank-funded project that provided training to help enterprises identify where energy was being lost.
The UN Resident Coordinator for Ghana, Zia Choudhury, said while Ghana had shown strong policy momentum on climate and sustainable development, the scale of investment required for a green industrial transition far exceeded what public finance could provide.
“The money is out there. In fact, the money is also in here, in this room, in this country. It’s just that we don’t have the conditions, yet where good projects can be identified, prepared and financed in workable terms,” Mr Choudhury said.
He urged government, industry and development partners to correct misguided risk perceptions about Ghana, which continue to block vital capital flows despite huge, untapped investment opportunities on the ground locally.
Mr Choudhury cautioned that the transition must be fair and practical, ensuring that small and medium-sized enterprises (SMEs), women entrepreneurs and firms outside Accra are not excluded because they lack internal capacity to meet new requirements.
Mrs Florence Adei Ohene, Deputy Managing Director of Consolidated Bank Ghana (CBG), said the role of banks was now central to helping businesses transition toward sustainable goals, beyond mere environmental compliance.
The bank, she said, had observed opportunities in financing renewable energy, agriculture and other productive sectors that could deliver both financial returns and measurable progress on Ghana’s climate commitments.
“We recognise the importance that banks play in helping businesses and customers transition towards sustainable goals. For us, finance goes beyond environmental compliance to mobilising capital responsibly to support productive sectors,” she said.
Mrs Ohene said CBG was complementing financing with capacity building, helping customers understand ESG requirements, emissions accounting and reporting, while partnering with development and commercial banks to lower financing costs.
GNA
Edited by Agnes Boye-Doe
11 Sept. 2026
Reporter: Francis Ntow
[email protected]
