Ghana to get its first MSMEs Development Index as DBG and GSS collaborate

The Development Bank of Ghana (DBG) and the Ghana Statistical Service (GSS) have joined forces to launch the nation's inaugural Micro, Small, and Medium Enterprises Development Index, known as the MSMEs Development Index (DBG-GSS MDex). This groundbreaking initiative, unveiled in October 2026, aims to monitor business performance and inform policy and financing decisions.

The project was spearheaded by Prof. Eric Osei-Assibey, Chief Economist at DBG, and Prof. Randolph Nsor-Ambala, CEO of DBG, alongside Deputy Government Statistician Alhaji Omar Seidu of GSS.

The partnership between DBG and GSS was formalized through a Memorandum of Understanding signed on September 8, 2026. Over 100 enumerators have been trained to conduct a comprehensive survey of more than 5,000 businesses across all 16 regions of Ghana, spanning the period from October to November 2026. These enumerators have been carefully selected from every corner of the country to ensure a deep understanding of local business contexts and languages.

With approximately 1.9 million business establishments in Ghana, where the vast majority employ fewer than five individuals, the lack of a consistent benchmark for MSME performance has been a significant challenge. The DBG-GSS MDex will bridge this gap by evaluating businesses across eight critical dimensions: profitability, productivity and growth; business environment; innovation and digitization; resilience and financial access; sustainability and green transition; inclusive and social impact; governance and formalization; and productive capacity and resources.

By merging business-owner surveys with objective indicators, the index will provide valuable insights into MSME performance, financing requirements, operational obstacles, and growth potential while tracking changes over time.

The DBG-GSS MDex will deliver dependable, recurring data from all 16 regions and key sectors, enabling policymakers to make informed decisions, improve MSME financing choices, pinpoint opportunities and challenges for growth, and monitor shifts in productivity, competitiveness, innovation, job creation, and sustainability. Additionally, the index will aid in assessing the impact of policies and business support programs, enhancing resource allocation and fostering sustainable MSME expansion.

Under this collaboration, DBG will shoulder strategic leadership, funding, and stakeholder coordination, while GSS will oversee survey design, data collection, analysis, and reporting, adhering to national and international statistical benchmarks.

Prof. Eric Osei-Assibey, Chief Economist at DBG, emphasized that development finance is most effective when grounded in credible evidence. He highlighted that the DBG-GSS MDex serves not only as a research product but also as a national asset, providing Ghana with a comprehensive understanding of which MSMEs are thriving, where productivity is increasing, what constraints hinder firms, and how financing and policy interventions can be more effectively targeted.

Prof. Osei-Assibey noted that this partnership is an investment in the knowledge infrastructure necessary to mitigate risks within the MSME sector, bolster the market intelligence of Participating Financial Institutions (PFIs), and stimulate additional funding for enterprises that drive Ghana's economy.

Alhaji Omar Seidu, Deputy Government Statistician at GSS, underlined the pivotal role of reliable and timely data in fostering business growth and economic development. He stressed that accurate data empowers transformation by becoming a potent instrument for enhancing access to finance, elevating business performance, and accelerating Ghana's economic progress.