Societe Generale Ghana PLC (SG Ghana) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to encourage and support innovators, especially Small and Medium businesses led by the youth, toward sustainable development.

The partnership is aimed at leveraging the expertise and resources of both institutions to provide a tailored programme, including capacity building, mentorship, business to business matching, and pitching masterclasses to investors.

Mr Hakim Ouzzani, the Managing Director of SG Ghana PLC, intimated that the partnership would help the bank to advance it’s vision of reaching out to young and innovative entrepreneurs in the country.

“This partnership will offer our bank the unique expertise in working with grassroots innovators to broaden the Bank’s reach and support new initiatives.”
Mr Hakim Ouzzani

The Managing Director of SG Ghana PLC, meanwhile, expressed his appreciation to UNDP for partnering with the bank to undertake the course to help the youths.

Dr Angela Lusigi, the United Nations Development Programme Resident Representative in Ghana, also expressed her satisfaction over the partnership. She disclosed that the Memorandum of Understanding would also support innovations from women, and persons with disability (PWDs) to ensure easy access to investors and markets for products and services.

“Partnership plays a critical role in accelerating the achievement of the Sustainable Development Goals (SDGs) by 2030 and the UNDP is committed to working with the private sector and all actors to unlock SDG-aligned investments for greater impact.”
Dr Angela Lusigi

The Partnership to Support PWDs

Dr Angela Lusigi noted that the partnership is very important as it would support national actions to expand employment opportunities for the youth, women, and PWDs for shared prosperity.

The United Nations Development Programme Resident Representative in Ghana further disclosed major plans to help beneficiaries carve a niche for their businesses.

“As part of the partnership, the UNDP Accelerator Lab, SG Innov8 Hub and SG Home of Business will be leading efforts to co-create opportunities for innovators to scale up to penetrate markets beyond the shores of Ghana.”
Dr Angela Lusigi

Dr Lusigi, moreover, asserted that the partnership would leverage UNDP’s expertise in working with grassroots innovators, and SG Ghana’s expertise in supporting businesses and entrepreneurs.

Under the agreement, the UNDP through its Accelerator Lab, and SG Ghana through its Innov8 Hub and the SG Home of Business, will run the Inclusive Entrepreneurship Partnership, taking innovators through capacity building, and free use of its services.

The UNDP country representative indicated that participating entrepreneurs would include a selection of 22 grassroots innovators who would be receiving funding and technical support through the UNDP Accelerator Lab COVID-19 Innovation Challenge and other innovators and entrepreneurs selected by the UNDP.

Meanwhile, the Memorandum of Understanding between Societe Generale Ghana PLC and the United Nations Development Programme is expected to support more entrepreneurs and of which at least 50 per cent of innovators would gain increased traction to scale up their innovations.