UNDP engages private sector to unlock investments for SDGs attainment in Ghana

The United Nations Development Programme (UNDP) has engaged investors and businesses to channel private sector capital to accelerate the attainment of the Sustainable Development Goals (SDGs) in Ghana.

At a virtual event focused on impact facilitation held in partnership with the Business for Peace Foundation of Norway, the UNDP had a stakeholder discussion’s on the upcoming SDG Investor Map for Ghana.

The SDG Investor Map is a digital tool that provides market intelligence on investment opportunities in Ghana and related impact data to identify and increase SDG-aligned actionable investments, to end poverty and inequality as envisioned by the global goals.

Speaking at the event, the UNDP Resident Representative in Ghana, Angela Lusigi, said the financing gap for SDGs is huge and Ghana’s SDG financing gap is estimated at USD 43 billion per year, which is equivalent to 52% of GDP, and this requires accelerated actions towards the achievement of the Sustainable Development Goals.

‘Ghana is a prime destination for private investment, including international investment, to complement public and domestic investment in order to bridge the SDG financing gap. As we step into the last decade of action on the SDGs, ramping up domestic and external private investment and exploring innovative financing frameworks remains the key to unlocking the commitments in the Addis Ababa Action Agenda for Financing for Development”, she noted.

The Ghana SDG Investor Map falls under UNDP’s global SDG Impact initiative that aims to work with the private sector to invest in enterprises and markets in ways that help achieve the SDGs. The Maps will provide investors and businesses with much-needed country-level data and SDG investment roadmaps.

However, the Ghana SDG Investor Map is expected to contribute to the 100 Billion Ghana cedis investments envisaged in the country’s Coronavirus Alleviation and Revitalization of Enterprises Programme (Ghana CARES), which is a three-year programme seeking to shift Ghana’s growth trajectory back towards the achievement of the SDGs.

Secretary-General of the International Chamber of Commerce (ICC) in Ghana, Emmanuel Doni- Kwame also said “Investors are looking for data and the SDG Investor Maps provide data and information that highlight investment opportunities and expected impact on development. I will urge businesses to incorporate the SDGs into their core growth strategies to contribute to sustainable development.”

Meanwhile, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant, speaking at the event, emphasized the need to continue to engage the private sector to help improve their understanding of the global goals. He said, “partnership is critical in achieving the SDGs and it is important to continue to engage the private sector to understand the global goals and their role in the attainment of the SDGs”.