In a boost to Ghana’s entrepreneurial landscape, the MTN Ghana Foundation has taken a significant stride by supporting 140 micro, small, and medium enterprises (MSMEs) with a total investment of GHC 1 million.
This investment not only includes financial aid but also comprehensive training aimed at enhancing the capabilities and competitiveness of these businesses.
Under the inaugural edition of the MTN Ghana Foundation’s Enterprise Support Program, 140 MSME owners have successfully completed specialized training modules tailored to address their specific needs.
The training, coupled with a capital injection of up to 10,000 cedis per beneficiary, marks a crucial milestone in the journey of these businesses towards sustainability and growth.
One of the highlights of this initiative is the enrollment of participants onto the MTN Momo Market, an innovative e-commerce platform. With access to this platform, beneficiary businesses gain a valuable opportunity to showcase their products and services to a vast audience of over 20 million customers. This digital marketplace not only expands their reach but also opens doors to new avenues for sales and revenue generation.
Meanwhile, the training for the beneficiaries included Bookkeeping, Business Model Innovation, Financing your Business, Business Cost and Pricing, Design Thinking, Branding, Sales and Marketing, Business Management, Financial Literacy, Digital Marketing, and Customer Service.
The training went beyond technical knowledge for business growth and sustainability; it also provided an experiential approach with peer-to-peer teaching and learning as well as networking opportunities.
The Impact of the Program
Commenting on the project, the Chief Corporate Services and Sustainability Officer of MTN Ghana, Adwoa Wiafe, said, “We are pleased with the impact that this program has had on the livelihoods of the beneficiaries in the first year of this five-year program”.
“We will continue to improve its implementation and monitoring in the second year to enhance its impact on the beneficiaries and their businesses. The program is MTN Foundation’s way of helping to address a significant challenge faced by micro and small-scale enterprises in the country – access to capital. In providing this much needed support we are complementing the government’s efforts to build a sustainable livelihood for business owners from low income communities.”
Adwoa Wiafe
Speaking about the project, one of the beneficiaries said, “I thoroughly enjoyed the training. I learned about the benefits of proper branding, customer experience, marketing, communication, and branding which I will apply to improve the way I do business.”
Another beneficiary, who is a person living with a disability, said, “I liked everything about the training. The trainer taught us in Twi, so we understood it well. We can now manage our business, maintain our customers, and attract new ones.”
The MTN Enterprise Support Program is a legacy project of MTN Ghana and was established in celebration of its 25th Anniversary in 2021. The initiative was launched in 2023 and is being implemented in partnership with the Innohub Foundation.
The second year of the project will be launched in April 2024, where another group of MSMEs from three regions will be invited to submit applications.
The shortlisted MSMEs will be given the opportunity to pitch for the grant, and the successful beneficiaries will be selected for onboarding for the 2024 edition.
What sets this initiative apart is its focus on inclusivity and empowerment. The Enterprise project targets youth, women, and differently-abled led MSMEs, recognizing the diverse talent and potential within these demographics. By providing tailored support to these groups, the MTN Ghana Foundation aims to foster a more inclusive entrepreneurial ecosystem where all individuals have the opportunity to thrive.
The MTN Ghana Foundation has set ambitious goals for the Enterprise project. Over the next five years, they aim to extend support to a total of 500 MSMEs across Ghana. This long-term commitment underscores the foundation’s dedication to nurturing sustainable businesses that contribute to economic growth and social development.
The success of this initiative lies not only in the financial support provided but also in the holistic approach towards capacity building and market access. By addressing the specific needs of beneficiaries through tailored training modules and offering them a platform to showcase their products, the MTN Ghana Foundation is laying the groundwork for a more vibrant and resilient MSME sector in Ghana.
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