Ghana risks losing from science‑tech if financing not boosted
The Ministry of Environment, Science & Technology (MEST) has issued a cautionary statement that Ghana risks losing the full benefits of its science, technology and innovation (STI) ecosystem unless bold and sustainable financing models are implemented. The call came during the Building Effective States & Transformation (BEST) Forum held in Accra.
Over recent years Ghana has made strides in research and innovation — from locally‑manufactured assistive devices like wheelchairs to university tech‑transfer offices. However, translating those innovations into scalable industries and jobs has proved challenging. At the forum, hosted jointly by the Africa Centre for Economic Transformation (ACET) and MEST, the Chief Director, Ms Suweibatu Adam, stressed that while government has introduced tools (such as the National Research Fund, Startup & Innovation Bill and technology‑transfer offices), financing remains the missing link.
Key issues raised:
- Many Ghanaian innovations remain confined to the lab and don’t reach the market because of weak venture funding, poor investor linkages and absence of scale‑up capital.
- Without strong funding models, the innovation ecosystem cannot fulfil its role as a growth driver for jobs, industries and inclusive prosperity.
- Stakeholders at the forum emphasised partnerships between government, academia, industry and investors as vital if research is to become commercialised.
What this means for business & growth:
For entrepreneurs and start‑ups, the warning signals a major opportunity: those with strong commercial strategies may attract the next wave of funding once the financing frameworks are clarified.
For investors and development partners, the alert may trigger funding vehicles tailored to Ghana’s context (bridging research and market, risk‑sharing etc.).
For the economy, success in turning innovation into industry will help diversify away from commodity dependence, increase value‑added and raise Ghana’s competitive edge globally.
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Source: raylizaghana.com
