OFFICIAL LAUNCH OF BUSAC FUND PHASE III
Accra, GHANA—After a decade of enhancing the advocacy capacity of the Ghanaian private sector, the Danish International Development Agency (DANIDA), the European Union (EU), the United States Agency for International Development (USAID) and the Ghana government launched the third phase of the Business Sector Advocacy Challenge (BUSAC) Fund on September 20, 2017. Phase 3 will run until December 2020. Chief Director of the Ministry of Business Development Joseph Tackie; Danish Ambassador to Ghana, Tove Degnbol; European Union Ambassador to Ghana, William Hanna; and USAID/Ghana Mission Director Sharon L. Cromer attended the launch event and delivered remarks.
As a component under DANIDA’s Support to Private Sector Development Phase III programme, BUSAC III will foster an improved business environment. BUSAC III complements the support provided by the EU in Ghana to boost technical and vocational training and job creation through the Ghana Employment and Social Protection programme. Through the U.S. government’s Feed the Future Initiative, BUSAC III promotes private-sector led economic growth and creates new opportunities for trade. The aim is to strengthen the capability of the private sector to advocate and encourage public-private dialogue.
Over 10 years, BUSAC has provided more than 270 grants to support private sector business advocacy initiatives within the agricultural sector alone. An example of a successful grantee includes the Unity and Progressive Women Farmers’ Co-Operative Society Limited, who successfully advocated for women's access to arable farm lands in Ghana’s Upper West Region.
BUSAC’s efforts have made an improvement in the business environment by supporting the International Chamber of Commerce to successfully advocate for Ghana’s ratification of the World Trade Organization’s Trade Facilitation Agreement to expedite the movement, release and clearance of goods at the ports.
During its first and second phases, BUSAC provided more than 780 grants to private sector organizations, 193 of which were used for private sector advocacy. Notable among them is the Association of Private Medical Laboratories, whose advocacy contributed to the successful enactment of the Health Professions Regulation Body Act, 2013 (Act 857). BUSAC has assisted more than 20 private sector organizations to access finance, including the Dunkwa Civic Union Women's Wing, who successfully advocated for affordable interest rates for business women in the Central Region.
Recognizing that private sector growth is a crucial contributor to Ghana’s economic development, BUSAC III will focus on strengthening the capability of the private sector to influence policies and advocate for reform in line with the approach "beyond aid" of the new government.
Detailed information about BUSAC Fund can be accessed on the Fund’s website: (www.busac.org).