MTN to support 150 SMEs with GH¢2m

MTN Ghana has allocated GH¢2 million for the development of small and micro enterprises across the country this year.

In all, 150 beneficiary SMEs, mostly from youth, women and persons with disability-led businesses, would receive up to 20,000 cedis each, depending on needs assessment, to grow their businesses.

Central Region

In the Central Region, 50 beneficiary entrepreneurs were announced in Cape Coast on Wednesday to receive capital injection at the launch of the MTN SME Support programme in the region.

The 50 from across the Central Region are into agro-processing, handiworks and retailing.

The MTN SME support programme initiative, which falls under the economic empowerment agenda of the MTN Foundation, is targeted at empowering SMEs to upscale and contribute to the socio-economic advancement of individuals, communities and the nation as a whole.

At the launch of the programme in Cape Coast, the Chief Corporate Services and Sustainability Officer at MTN Ghana, Adwoa Wiafe, said the MTN SME Support programme, launched in 2022, was a five-year programme which began last year and was committed to helping SMEs to grow their businesses.

Last year, she indicated that GH¢1 million was expended under the initiative and stated that the SME space had challenges in accessing credit to grow, although they formed a huge part of the informal business sector.

She said the MTN SME was not only funding but would include training to help them shape their business to take advantage of the digital transformation opportunities, market products and adopt new business practices to scale their business and to access finance formally.

Each business, she said, would be assessed and, depending on the need, entrepreneurs would be supported.

"We are looking at categories like traditionally marginalised groups such as women, persons with disabilities or differently-abled people and also the youth because a huge part of the youth is unemployed.

She said it would support them to grow their business and to employ others.

Ms Wiafe said the selection process was a competitive one after pitching sessions, saying she was optimistic the support would boost the businesses.

The Executive Director of Innohub, the implementing partner for the programme, said the programme was expected to help beneficiaries imbibe financial disciplines and help their businesses grow through training to sustain their businesses.

He advised the beneficiaries not to see the support as free monies that would be wasted but as an opportunity to expand their businesses, increase their customer base, employ more people and support the economy to grow. 

Beneficiaries

A beneficiary agro-processor, Irene Combey, expressed gratitude for the support, saying it would go a long way to help her expand her business.

Another beneficiary, Lawrence Inkoom, a show producer, said he had challenges accessing capital to invest in his business because he was differently abled and thanked 

MTN for the gesture, saying it would go to great lengths to expand his business.