About 300 small business owners gathered in the city of Techiman in Ghana’s Bono East Region to present business ideas as part of the MTN SME Support Programme. The organisers plan to select 150 participants for the next stage of intensive support, MyJoyOnline reports.
The programme is in its fourth year of implementation as part of a five-year initiative. It is implemented by the MTN Foundation and Innohub Foundation. At the pitch competition and selection stage, entrepreneurs must defend their business models before a jury and demonstrate their understanding of the market, business potential and development plans.
Business support
Over the previous three years, the initiative supported 453 small and medium-sized enterprises in nine regions of Ghana. Five million Ghanaian cedis were allocated to finance entrepreneurs under the programme.
According to the organisers, revenue among 290 participating enterprises increased by 19%, from 25.1 million to 29.9 million Ghanaian cedis. The programme also links its work to the creation of 37 new jobs.
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Cynthia Mills, Economic Empowerment Advisor at the MTN Foundation, said the programme aims to select viable businesses that can create jobs and contribute to economic development.
Training and different sectors
Innohub Foundation programme lead Dziasi Juliet Yaira noted that participants will receive not only financial assistance but also training and support to develop their skills. According to her, this is intended to help enterprises sustain long-term growth.
The competition includes not only technology startups but also traditional businesses in agriculture, food processing, trade, manufacturing and services. Jury member Fafa Befoe highlighted agribusiness ideas aimed at reducing post-harvest product losses.
A successful performance at the pitching stage does not guarantee final selection, but it is a step towards receiving comprehensive business development support, mentoring and financial assistance.
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