EU and ECOWAS allocate €6.5 million via WACOMP to enhance small-scale business export competitiveness within West Africa
The European Union (EU) has allocated €6.5 million through the West Africa Competitiveness Programme (WACOMP) to bolster the competitiveness of Micro, Small, and Medium Enterprises (MSMEs) in Ghana. The funding aims to enhance the value chain process of these businesses, with a focus on export promotion.
During a courtisy call on the Northern Regional Minister, Shani Alhassan Shaibu, in Tamale, the EU Ambassador to Ghana, Irchad Razaaly, announced the initiative. Razaaly was accompanied by representatives from the UNIDO and EU offices. The meeting was part of a broader tour to inspect UNIDO-EU-funded WACOMP projects in the Tamale Metropolis and Sagnerigu Municipality of the Northern Region.
The four-year project, a collaboration between the EU, ECOWAS, and the Ministry of Trade and Industry, is being implemented by the United Nations Industrial Development Organisation (UNIDO). It aims to boost the performance and growth of three value chains - cassava, fruits (mango and pineapple), and cosmetics and personal care products - by raising their quality for export. The project also targets strengthening the competitiveness of ECOWAS integration into the regional and international trading system, including the African Continental Free Trade Area (AfCFTA).
The EU and UNIDO are committed to partnering with Ghana to invest in human resources, with the potential to generate employment and stimulate economic growth. Razaaly specifically highlighted the significance of investing in the shea value chain for the economic empowerment of pickers and processors across the northern belt.
Regarding counter-terrorism efforts, the regional minister commended the EU for its support, stating that the peaceful environment in the northern regions has attracted investors. He underscored the role of security agencies in maintaining peace and tranquility to foster normal business activities, contributing to the growth of the country.
[Enrichment Data:The West Africa Competitiveness Programme (WACOMP) is a flagship initiative aimed at strengthening value chains for MSMEs across West Africa, including Ghana, through improved competitiveness, regional integration, and trade facilitation. The program prioritizes critical sectors for intervention, including textiles, mangoes, cassava, and Information and Communication Technology (ICT). WACOMP directly aligns with the objectives of the African Continental Free Trade Area (AfCFTA) by promoting collaboration, improving coordination and legal frameworks, enhancing competitiveness, and facilitating market access.]
- The European Union (EU) and the United Nations Industrial Development Organisation (UNIDO) are working together to invest in the shea value chain in Ghana, as part of the West Africa Competitiveness Programme (WACOMP), with the aim of fostering economic growth and employment for pickers and processors across the northern regions.
- The WACOMP project, a joint effort between the EU, ECOWAS, and the Ministry of Trade and Industry, is focused on improving the quality of cassava, fruits (mango and pineapple), and cosmetics and personal care products in Ghana, to boost their competitiveness in both regional and international markets, including the African Continental Free Trade Area (AfCFTA).
- The geopolitical stability provided by counter-terrorism efforts supported by the EU in the northern regions of Ghana has played a crucial role in attracting traders and investors, contributing significantly to the growth of the country's business sector.
