Ghana risks losing out on the full benefits of science and technology unless bold and sustainable financing models are put in place to move research from the laboratory to the marketplace, the Chief Director of the Ministry of Environment, Science and Technology (MEST), Suweibatu Adam has cautioned.

She stressed that science, technology and innovation (STI) were no longer optional tools but central drivers of economic growth, industrial transformation, and inclusive prosperity.

She made the call in Accra, at a high-level plenary of the Building Effective States and Transformation (BEST) Forum on the theme “Unlocking Industrial Potential: Strategic Approaches for Ghana’s Economic Transformation.”

The session, organised by the Africa Centre for Economic Transformation (ACET) in partnership with MEST, focused on innovative financing for the commercialisation of STI.

It aimed to convene government, academia, industry and investors to design practical financing models that move research into markets and jobs.

In a speech delivered on her behalf by the Director-General of the Council for Scientific and Industrial Research (CSIR), Professor Paul Bosu, she said Ghana’s innovations would remain under-utilized and fail to create jobs unless backed by strong financing structures.

Ms Adam highlighted government’s ongoing efforts to strengthen the research and innovation ecosystem through initiatives such as the National Research Fund, the Startup and Innovation Bill, and the establishment of technology transfer offices in universities.

Science and Technology must be Harnessed

“Science and technology must be harnessed not only to solve social problems but to build industries, create sustainable jobs and improve our competitiveness,” she said, pointing to innovations such as the Veronica bucket during the COVID-19 pandemic and Goliath Robotics’ locally manufactured wheelchairs as examples of Ghanaian creativity that require financing to thrive.

The Acting Administrator of the Ghana National Research Fund (GNRF), Professor Adelaide Mensah, disclosed that the Fund’s first board was inaugurated in June 2025 and was drafting regulations to guide intellectual property management, technology transfer and commercialisation.

She said seed funding would soon be rolled out through pilot calls to support universities, research institutions and innovators.

“The Ghana National Research Fund is not just about financing research. Its core mandate is to ensure that outputs are protected, transferred and commercialised for the benefit of the nation,” she explained.

Ghana Targets 0.6% GDP for Public, Private Expenditure on Research

Senior Fellow at ACET, Blaise Bayuo, noted that Ghana had set a target to increase public and private expenditure on research and development to 0.6% of Gross Domestic Product (GDP) by 2030

He, however, described the current STI ecosystem as fragmented, underfunded and overly dependent on donor support, calling for stronger collaboration to turn research into market-ready products and services.

Delivering a solidarity message, Technical Advisor on STI at the UK Foreign, Commonwealth and Development Office (FCDO), Chisom Udemezue, stressed the need for inclusive and sustainable financing models that support innovators at every stage from ideation to proof of concept, scaling up and commercialization.

She reaffirmed the UK’s backing through initiatives such as the Sankore Project and RISER Fund, which are supporting Ghana’s commercialization policy roadmap.