MTN Ghana takes giant step by disbursing 2 Million cedis towards empowering entrepreneurs and building an inclusive and sustainable economy

For this year alone, MTN Ghana is disbursing a total of Two (2) million Ghana cedis into a support programme for entrepreneurs within the Small and Medium Enterprise (SMEs) space in the country.

Ms. Cynthia Mills, Economic Empowerment Advisor at MTN Ghana, who disclosed this explained that the initiative primarily targets ‘businesses with immense potentials to transforming lives, making an impact and creating opportunities for others.”

“Today we take yet another big step towards empowering entrepreneurs and building an inclusive and sustainable economy through the MTN Ghana foundation,” she remarked.

Ms. Mills made the disclosure at an Enterprise Support Programme Onboarding and Awards ceremony in Tamale organized by the MTN Ghana Foundation in collaboration with Innohub Ghana and Fidelity Bank.

The enterprise support programme, first launched in 2022 as part of MTN Ghana’s 25^th anniversary celebration, has grown into a platform that provides training, mentorship and seed funding to young, women and differently-abled businesses within the agricultural space, manufacturing and technology among others.

The initiative which is in its third year, also provides seed funding at subsidized rate of 10 percent through Fidelity Bank. These enable SMEs, particularly, in the savanna, northern and upper regions that are mostly challenged in accessing funding, have alternative capital to grow their businesses.

“This year we are disbursing a total of 2 million Ghana cedi to selected entrepreneurs. Youth led businesses will receive 630,000 cedis, women led businesses will receive 970,000 cedis and the differently-abled entrepreneurs will receive 400,000 cedis, the MTN official remarked.

According to Ms. Mills, by conducting pitch competitions and interviews for 354 individuals’ across the targeted regions of the north, 160 promising SMEs were shortlisted to benefit from the enterprise support programme.

She congratulated the beneficiaries onboard for their resilience, determination and creativity.

Snr Manager, MTN Ghana Foundation, Robert Kuzoe in a remark said the occasion was to celebrate and award those businesses with potentials to grow by complementing training with funding support and more importantly, how they could plough back the proceeds into the business for growth.

Mr. Kuzoe said the gesture is a testament of MTN’s ‘inclusive agenda of not leaving anyone behind.

Chief of Staff at Innohub Ghana, Maame Serwaa Amoakohene said their role as an enterprise support organization is focused towards entrepreneurs that were too small to access funds and not also getting the needed attention.

“Our focus, as Innohub, is to provide capacity building or mentorship in basic financial literacy, marketing and branding using social media and developing sustainability plans, so that SMEs can also stand on their feet,” she added

Earlier in his welcoming note, Kwame Aseye Akude, Manager, Retail Enterprise at MTN Ghana reechoed that the event marked, yet another milestone in the telco’s journey to empower entrepreneurs and strengthen livelihoods through strategic investments in Ghana’s SMEs sector.

“It is our hope that the initiative will continue to benefit lives in al l6 regions by creating lasting impact for individuals, families and communities.”

He also encouraged the beneficiaries to make the most of the training and financial support by being innovative, resilience and focused on building their brands.

Some of the beneficiaries including Niamatu Alhassan who is CEO of Agbanlife and Mohamed Tahiru of Suglo Shoe Enterprise who is a differently-abled commended their benefactor, MTN for the initiative in choosing to walk with them towards the path of sustainability.