Invest in Africa (IIA), a not-for-profit organisation which is focused on growing local Small and Medium Enterprises (SMEs) across the sub-Saharan Africa, has been selected by Tullow Ghana Limited to partner it to implement its recently launched Financial Readiness programme.
Madam Tina Boadi, the Marketing Manager of Invest in Africa Ghana, in a statement, noted that IIA would play key role in helping some selected Small and Medium Enterprises in Ghana. She revealed that IIA will provide financial tool kits to SMEs that would enhance their interactions with lending institutions. Madam Boadi also said IIA will offer 150 SMEs access to various funding options, as well as insight into financial restructuring opportunities.
In addition, Madam Tina Boadi noted that Invest in Africa (IIA) will host workshops, and alongside, IIA would offer more tailored, one-to-one business advisory support to Tullow Ghana. Undoubtedly, she averred that these will be delivered on the back of a successful track record of similar interventions led by IIA.
Moreover, Carol Annang, Invest in Africa Ghana’s Country Director, speaking on the potential impact of the programme said “In any ways, the pandemic has reshaped how we conduct business.”
Carol Annang observed that the effect of the pandemic on financing for Ghanaian SMEs may be felt many years down the line. So, she noted that even though, this programme has a short-term outlook, its overall contribution to these SMEs would be much longer lasting.
“This is something both IIA and Tullow Ghana can appreciate, given our shared commitment to strengthening local supply chains.”
Carol Annang
Mr Wissam Al Monthiry, the Managing Director of Tullow Ghana opined that Tullow Ghana has the development of SMEs and their participation in the oil and gas industry at heart.
“As a company, the development of local capacity for participation in the oil and gas industry remains our priority.”
Mr Wissam Al Monthiry
Mr Wissam futher noted that central to developing local participation, is the ability of the local supply chain to remain financially resilient to continue participating in delivering oil and gas services to our operations.
“This Financial Readiness programme will add to our goal of ensuring a financially stable supplier base that is globally competitive.”
Mr Wissam Al Monthiry
The Financial Readiness programme is an eight-month programme, with the goal of assisting SMEs and suppliers in the oil and gas industry to build financially resilient and sustainable businesses for the future.
It can be recalled that Invest In Africa (IIA) entered similar partnership with Vodafone Ghana to support local businesses by enhancing their digital capabilities. The partnership provided local SMEs with tailor-made digital solutions to enable them to adapt to the disruptions caused by the COVID-19 pandemic, continue interacting with customers online and grow their businesses.
Some of the customised ICT solutions provided by IIA and Vodafone to SMEs in Ghana included Red Trader – a simple web and mobile application designed for traders to manage their inventory, track and receive payments, and Your-Business-Online – a proposition designed for SMEs to increase their market reach via tailored digital marketing offerings such as: website design, e-commerce integration and social media marketing, among others.
IIA is an enterprise focused on growing local small and medium-sized enterprises (SMEs) in Sub-Saharan Africa to deliver positive economic impacts and create jobs.
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