MTN Ghana Foundation has intensified its support for Micro, Small, and Medium Enterprises (MSMEs) in the Eastern Region to create jobs and boost the local economy.
MSMEs play a crucial role in economic development, but access to finance remains a significant challenge, particularly for startups in emerging economies.
To address this, MTN Ghana Foundation’s Enterprise Support Programme, launched last year, aims to bridge this gap.
The project is set to support 500 MSMEs over the next five years across Ghana, focusing on enterprises led by youth, women, and differently-abled individuals. Beneficiaries will receive training, business development support, technical assistance, and seed funding.
The onboarding programme for beneficiaries in the Eastern Region was held in Koforidua, where numerous startup MSMEs showcased exceptional creativity in producing products and services, especially in the agribusiness sector.
Economic Empowerment Adviser for MTN Ghana Foundation, Mrs. Cynthia Mills, highlighted the initiative’s goals during the event stating that Central,Eastern and Volta Regions are focus for selection this year.
“We are here in Koforidua today to conduct interviews for our MTN support programs. This project, approved by the MTN Foundation board, supports SMEs doing marvelous jobs, particularly those led by differently-abled individuals, women, and youth. This year, we expect to support approximately 150 people,” she said.
The selection process began with differently-abled entrepreneurs, followed by youth and women categories.
“We will be interviewing about 60 people from the Eastern Region,” Mrs. Mills added. “For each entrepreneur, we are providing up to GHC 20,000, tailored to their business needs.”
Mrs. Mills emphasized the flexibility of the support terms. “The mode of repayment will be very flexible, ranging from six months to two years, depending on the business model. This project will evolve, with the initial cap of GHC 10,000 last year increased based on our report to the board.”
The foundation’s support is driven by the recognition of the innovative projects being developed by local entrepreneurs, particularly in enhancing food variety and other products.
By providing this support, MTN Ghana Foundation aims to help these enterprises grow, thereby creating more jobs and stimulating economic growth.
Following the Eastern Region, the selection process for MSMEs will continue to Volta Regions for further onboarding.
Source: Ghana/Starrfm.com.gh/Kojo Ansah
