SOLV Ghana, an innovative digital business-to-business e-commerce marketplace, officially launched in Ghana on February 28, 2024, marking a significant milestone in the country’s economic landscape.
Specializing in providing essential financial and business support services, SOLV Ghana is aimed at addressing the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in accessing efficient financing swiftly and securely. Ghana’s vibrant MSME sector currently faces a financing gap exceeding $10 billion due to limited data availability and restricted access to financing options.
To bridge this gap, SOLV Ghana has established strategic partnerships with key stakeholders to facilitate seamless access to finance, thereby simplifying and sustaining the growth trajectory of MSMEs. The SOLV Dealer Finance program, a cornerstone initiative, offers collateral-free financing for working capital shortfalls to dealers and distributors through relationships with suppliers.
Sam Kwaku Peprah, CEO of SOLV Ghana, highlighted the platform’s commitment to streamlining the funding process for MSMEs and minimizing risk exposure for financial institutions. Additionally, SOLV Ghana aims to integrate into the Business Sans Borders (BSB) Financial Trust Corridor, spearheaded by the Bank of Ghana, the Ministry of Finance, and the Monetary Authority of Singapore, to facilitate cross-border trade.
As a catalyst for transformation in the MSME landscape, SOLV Ghana signifies a pivotal step towards overcoming financial challenges in Ghana. With its innovative financing and business support solutions, Ghanaian MSMEs are poised for sustained growth and prosperity in the evolving economic landscape.
