The African Center for Economic Transformation (ACET) has admitted the first cohort of Small and Medium Enterprises (SMEs) into its new private sector initiative, ACET Business Transform (ABT).

The first 10 SMEs, based in Ghana, were competitively selected from more than 70 applicants by an independent panel of consultants.

Delivering the welcome remarks on behalf of the Founder and President of ACET, KY Amoako, at the official launch of ACET Business Transform on November 8 in Accra, Mavis Owusu-Gyamfi, Executive Vice President of ACET, underscored the central importance of small and medium enterprises in the continent’s transformation agenda.

“We know that carefully considered, private sector-led initiatives—anchored in sound analytics and practice—will drive Africa’s transformation agenda. That’s why ACET is rapidly and aggressively increasing its focus on this critical component of economic transformation”

The ACET Business Transformation is a flagship project of ACET’s burgeoning Private Sector Development (PSD) unit, targeting early- to growth-stage SMEs that have a manufacturing or assembly component in their business model.

In his goodwill message to ACET, the honourable Minister for Trade and Industry, Mr. Alan Kyeremanten indicated that private sector-led initiatives such as ACET Business Transform, will receive “the needed partnerships and investment; we will build on the great successes we have had in the last four years, by scaling up technologies to reach these and many other SMEs”.

Charles Odoom, ACET Head of Private Sector Development, said the programme is ACET’s response to the challenges in the local content SME ecosystem. “Through technical and managerial interventions, mentorship, coaching, and direct funding, the programme will move SMEs into investment readiness and support their integration into competitive global value chains.”

Presenting ‘The Transformation Journey’ at the launch, Mr. Odoom provided practical insight into the program’s ambitions, timelines, and, most importantly, opportunities.

“Currently, our company is at the growth stage, and we need some restructuring,” said Kwesi Etu Bonde, CEO of Sky3 Ltd., one of the participating SMEs. “I expect that ACET Business Transform will help us transform into a well-focused and well-planned business, ready to get external financial support.”

Giving the closing remarks at the launch, Senior Director of Research, Policy & Programmes at ACET, Dr. Edward Brown said, interventions targeted at SME development have been uncoordinated over the years; as such, “ACET’s PSD approach will help fill the gap between public policy and the private sector, to engage more constructively, and to better understand the local dynamics that drive SME businesses.”

ACET is running this program in collaboration with technical delivery partners from PwC and EVC Africa, business advisory firms that reiterated their readiness to work with the cohort, not only to reach program goals but also to grow local businesses.

“We are eager to bring all the knowledge, skills, and experience we have to assist these local SMEs, integrate them into the global value chains, and, ultimately, help transform Ghana’s economy,” said EVC Managing Partner Ed Villars. “We are excited about our partnership with ACET.”

The African Center for Economic Transformation (ACET) is a pan-African economic policy institute supporting Africa’s long-term growth through transformation. We produce research, offer policy advice, and convene key stakeholders so that African countries are better positioned for smart, inclusive, and sustainable development.