Business centre to support inclusive businesses launched
ThirdWell Inclusive Business Centre (IBC) has been officially launched in Accra, signalling a renewed push to position inclusive business as a central pillar in Ghana’s quest for sustainable economic transformation.
The IBC is a private not-for-profit organisation established to empower inclusive businesses by promoting investment and partnerships that enhance their capacity to scale sustainable impact and drive systemic change in the economy.
The official launch brought together key stakeholders, including business leaders, investors, development partners, corporate institutions, academic bodies, and members of the media.
Describing IBC as a one-stop resource hub, the Founder and Chairman of the centre, Osah Thompson-Mensah, said IBC would provide strategic advisory services, corporate governance guidance and coordinated access to professional support for accredited inclusive businesses.
He further explained that ThirdWell Inclusive Business Centre was established to address the major challenges faced by many inclusive businesses and SMEs, particularly in strategic management, access to financing, and building strong partnerships.
“The challenge has always been the lack of coordinated systems and accessible business services to help inclusive businesses grow and scale their impact.
The Inclusive Business Centre serves as a One-Stop Resource Centre where businesses can access affordable strategy and business services to strengthen their operations and improve their readiness for investment and partnerships,” he stated.
Benefits
Inclusive businesses are private sector businesses or business lines that generate profits by providing goods, services, and livelihood opportunities to people at the Base of the Pyramid (BoP) (low-income populations) on a commercially viable basis, making them a part of the company's value chain as customers, suppliers, distributors, or employees.
Inclusive businesses create innovative and affordable solutions for the needs of low-income groups and communities, turning underserved populations into active suppliers, consumers, and distributors, while also benefiting the businesses by creating new markets and products. Investments into partnerships with inclusive businesses, thus create positive systemic change for BoPs, communities and society.
Inclusive businesses in Ghana are officially accredited by the Inclusive Business Accreditation Committee, comprising AGI, MOTAI, MoFA, MESTI, GEA, GCYE, SEGh, CAG, after independent assessment by at least three certified inclusive business consultants using a composite rating tool involving 47 criteria and 186 benchmarks.
Mr Thompson-Mensah highlighted the progress made under the Inclusive Business Initiative in Ghana, revealing that 27 companies had already been officially accredited as inclusive businesses in 2024 and 2025.
These businesses have generated a combined revenue of GH¢1.18 billion, while impacting over 2.25 million people, demonstrating the powerful role inclusive businesses can play in driving economic and social transformation.
He further acknowledged support from Deutsche Gesellschaft fürInternationale Zusammenarbeit (GIZ), which sponsored groundwork for the inclusive business landscape study and institutionalisation in Ghana, noting that sustaining the initiative now rests with Ghanaians.
Mr Thompson-Mensah called for inclusive business to become the foundation of Ghana’s economic development strategy, describing it as the country’s most sustainable pathway to reducing poverty and improving the living standards of low-income groups and communities in Ghana.
According to him, Ghana lacked a long-term development ideology, despite the regular production of political party manifestos every four years.
“We have manifestos, but we do not have a clear national development ideology or strategy,” he said, arguing that inclusive business and impact-driven return ideology should underpin Ghana’s economic development strategy and framework.
He further stressed that expanding inclusive business practices would significantly deepen social and economic impact. He noted that when citizens are economically empowered, they demand more goods and services, which stimulates production, drives factory expansion, and boosts exports.
Mr Thompson- Mensah also disclosed IBC’s intention to engage with the Ghana Stock Exchange to explore how listing small and medium-sized enterprises (SMEs) could address succession planning challenges and strengthen corporate governance.
He observed that many Ghanaian businesses collapse after founders exit due to weak structures and overreliance on family succession.
“When you list, you open yourself up not just to funding but to quality management and stronger corporate systems,” he said, adding that standards should not be lowered, but processes can be rethought to maintain integrity while improving access.
Collective efforts
Also speaking at the launch, the Chief Executive Officer (CEO) of the Ghana Chamber of Young Entrepreneurs (GCYE), and also chairman of the event, called for inclusive business to be elevated to a national agenda.
He highlighted the reality of poverty among many Ghanaians, particularly those earning below GH₵2,000, and urged companies to align profit-making with social inclusion.
“Until low-income individuals are integrated into value chains, businesses will continue to get richer while many people remain poor,” he said.
Mr Ghali pledged support for the centre and encouraged businesses, institutions and the government to back the initiative, stressing that poverty reduction required collective effort.