The MTN Ghana Foundation recently hosted a two-day business pitch session in the Central Region as part of its MTN Enterprise Support Programme.
This initiative aims to provide fledgling businesses with both financial assistance and training, reinforcing MTN’s commitment to fostering entrepreneurship in Ghana.
Pitch sessions are commonly used in the capital-raising community to allow entrepreneurs to present their business ideas to potential investors. In this context, MTN Ghana’s Enterprise Support Programme offers a platform for startups to secure financial support and receive critical business training. Launched in 2023, the programme provides loans of up to GHS20,000 with flexible payment terms and training in essential areas such as customer relations, financial management, and branding.
The programme, executed in partnership with Innohub, a business development organization, specifically targets startups led by women, young people aged 18 to 35, and physically challenged individuals. The second edition of this initiative has now expanded to the Central Region, with plans to support at least 100 businesses from the Central, Volta, and Eastern regions.
The Central Region pitch session saw participation from 65 businesses, showcasing a wide array of innovative and promising business ideas. Among the participants were 30 women-led businesses and 15 youth-led enterprises, all vying for support by presenting their proposals to a panel of three judges.
Diverse and Innovative Business Proposals
The majority of the businesses aimed at export markets and included ventures in farming, fish processing, rabbitry, piggery, fruit and vegetable processing, yoghurt making, and the processing of wheat, rice, and millet. The panel also interviewed 20 physically challenged entrepreneurs to assess their business needs and the level of support required.
Madam Cynthia Mills, the Economic Empowerment Advisor of MTN Ghana Foundation, emphasized that the programme’s focus is on empowering young Ghanaian businesses, particularly those in the agribusiness sector. She highlighted the success of the first edition, which supported 120 businesses from the Western, Ashanti, and Greater Accra regions. These businesses are reportedly thriving and repaying their loans on schedule.
The repayment terms of the loans are tailored to the nature of each business, offering entrepreneurs the flexibility and convenience needed to manage their finances effectively. Madam Mills expressed her enthusiasm for the innovative businesses presented during the pitch session and commended the entrepreneurs for their resilience and creativity.
“The businesses are very impressive and innovative. Prior to this, I did not know that a lot of the women who are into the fishing industry had their own canoes and boats, and some are into the sales of the products and services,” Madam Mills remarked.
Madam Mills encouraged the participating entrepreneurs to maintain high standards of quality in their products and services. She urged them to remain diligent and persistent, even if they were not selected for support in this round. “Whatever you are doing, do it well. You have to start somewhere, and we hope that if you are not chosen today, you don’t lose hope. It is a five-year project and so it will certainly come to your area,” she assured.
The MTN Enterprise Support Programme exemplifies MTN Ghana’s commitment to nurturing entrepreneurship and economic empowerment across the country. By providing financial support and crucial training, the programme aims to equip young and marginalized entrepreneurs with the tools they need to succeed.
READ ALSO: IMANI Questions the Sustainability of Universal School Feeding Program
