As part of the implementation of the private sector component of the Low Emission Capacity Building Programme (LECBP) in Ghana, the Private Enterprise Federation the facilitating and coordinating institution in the program on behalf of the private sector. From the two major workshop proceedings in Accra and Kumasi during the sensitization phase, it was realized that majority of the private sector participants involved in climate mitigation activities faced similar constraints with a few peculiarities. It highlighted the need for leadership from PEF to develop a platform that addresses the specific needs of the interested business entities.
The major concerns raised at the workshops were the lack of market for clean technology and high duty on such products; lack of capacity in understanding how to develop bankable climate mitigation project proposals; insufficient financial incentives offered by the government to promote private sector participation; limited information and access to financing to start-up or scale-up; and credit and performance risks, lack of technical expertise and competencies, lack of interest and confidence in mitigation financing on the part of the domestic financial institutions. These are areas the private sector platform will have to assist members overcome or address in the near future to influence private sector investment in the sector. As follow up to previous engagements PEF organised capacity building workshops at both centres to present to participants the assessment of proposals received and how these proposals are going to be developed to meet funding criteria of the various international funds.
This was to guide members of the platform on how to develop bankable proposals for submission for funding and also build the capacity of the NAMA platform members in proposal development and also address other concerns involving sustainable operation of a green business model in Ghana.