Ibrahim Mahama Champions Indigenous Industrialization as MTN Ghana Secures 5G Spectrum and GCB Bank Boosts SME Support

Ghana’s business landscape is witnessing a significant push toward indigenous ownership and digital transformation, headlined by the fifth anniversary of Dzata Cement and major infrastructure advancements. Ibrahim Mahama, CEO of Dzata Cement Limited, marked the company’s milestone by asserting that Ghanaians are fully capable of building and owning large-scale industrial ventures without over-reliance on foreign entities. Reflecting on his transition from a cement transporter to a manufacturer, Mr. Mahama credited the support of former President Nana Akufo-Addo’s administration and former Trade and Industry Minister Alan Kyerematen for facilitating the company’s growth. He emphasized the importance of empowering the next generation of leaders to take managerial risks and ensure the long-term sustainability of local enterprises.

Parallel to industrial growth, Ghana is poised for a digital leap as the National Communications Authority (NCA) awarded Scancom PLC (MTN Ghana) spectrum in the 700 MHz and 3 GHz bands for 5G services. The 15-year licences, costing a combined $202 million, are expected to significantly enhance network capacity and service quality across the country. This technological advancement comes as digital payments continue to surge; mobile money transactions reached GH₵492.9 billion in June 2026 alone. However, industry experts from Mastercard note a disparity in adoption, as only 37% of businesses currently utilize digital payment systems. To bridge this gap, collaborations with groups like DPO and Boost are focusing on "frictionless" payment solutions to help Small and Medium-sized Enterprises (SMEs) improve operational efficiency and revenue growth.

Financial institutions are also stepping up non-financial support to ensure the resilience of the SME sector, which remains a vital pillar of the national economy. GCB Bank recently hosted its MSME Caravan Clinic in Accra under the theme "MSME Unlocked: Powering Ghanaian Businesses for Sustainable Growth." Bank executives, including Head of Micro and Small Enterprises Cedric McAddy, urged business owners to formalize their operations and improve record-keeping to access credit more easily. To support this, GCB has introduced unsecured loan options of up to one million cedis based on business turnover, alongside digital tools designed to enhance financial visibility and documentation.

Furthering the commitment to sustainable economic development, organizations like Opplift and MTN Ghana are targeting young entrepreneurs and existing SMEs through specialized summits and awards. The maiden Opplift Youth Entrepreneurs Summit, "Build to Thrive," provided mentorship and seed funding to 12 selected beneficiaries to foster local innovation. Similarly, the 2026 MTN SMEGA Awards celebrated exceptional local businesses while urging them to leverage international partnerships and digitalization to expand beyond the Ghanaian market. Collectively, these initiatives signal a coordinated effort between the private sector, financial institutions, and the government to create a robust ecosystem for indigenous business success.