The Ghana Enterprises Agency (GEA) has unveiled a new partnership aimed at enhancing market access for Micro, Small, and Medium Enterprises (MSMEs) in Ghana.
This strategic collaboration with Lokko House and Jowato Company Limited is part of the GEA/Mastercard Foundation Business In A Box (BizBox) Project, designed to promote inclusive and sustainable development for MSMEs.
The partnership was formalized following a rigorous selection process that identified Lokko House and Jowato Company Limited as qualified concept shops to provide retail spaces for Ghana-made products. This initiative, under the BizBox Project’s Concept Shop Model, aims to offer MSMEs, particularly those run by young women and Persons with Disabilities (PWDs), dedicated retail spaces to showcase their high-quality and innovative products.
The Concept Shop Model is anticipated to bring numerous benefits, primarily by increasing sales and revenue for participating MSMEs. By providing dedicated retail spaces, the project aims to significantly boost sales revenue and enhance the visibility of Ghana-made products.
This increased visibility is expected to attract both local and international investments, stimulating economic development through the influx of support for individual business growth. Furthermore, this initiative is poised to contribute to broader economic development, fostering a dynamic market environment.
Economic and Social Impact
The collaboration is expected to generate employment opportunities for Ghanaians, creating sustainable livelihoods and providing participating MSMEs with enduring market access opportunities. By driving increased sales and investment, the initiative will contribute to sustainable economic growth and showcase the potential and quality of Ghana-made products.
Overall, the BizBox Project’s partnership with Lokko House and Jowato Company Limited represents a significant step in empowering Ghanaian MSMEs, particularly those led by young women and PWDs. This initiative will contribute to creating dignified jobs, driving sustainable economic growth, and highlighting the excellence of locally made products.
The Business In A Box (BizBox) Project is a collaborative effort between the Mastercard Foundation and the Ghana Enterprises Agency. The goal of the four-year project is to create dignified and fulfilling jobs for 250,000 young people in Ghana by 2027, with 70% of the beneficiaries being women and 10% being Persons with Disabilities (PWDs).
This partnership aligns with the Agency’s mandate as the apex body for promoting and developing MSMEs in Ghana and the Mastercard Foundation’s vision for the country. The Foundation aims to enable three million young women and men to access dignified and fulfilling work by 2030. The synergy of this partnership lies in combining the Agency’s focus on MSME development with the Foundation’s overarching goal of creating employment opportunities for the youth.
The partnership between the Ghana Enterprises Agency and Lokko House and Jowato Company Limited, under the BizBox Project, marks a significant milestone in supporting Ghanaian MSMEs. By providing dedicated retail spaces for local products, this initiative will enhance market access, boost sales revenue, and attract investments. Moreover, it will generate employment opportunities and contribute to sustainable economic growth, particularly benefiting young women and PWDs.
Through this collaborative effort, the GEA and Mastercard Foundation are demonstrating a commitment to empowering MSMEs and fostering a more dynamic and inclusive market environment in Ghana. The BizBox Project stands as a testament to the potential of strategic partnerships in driving economic development and showcasing the quality and innovation of Ghana-made products.
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