The MTN Ghana Foundation has held a two-day business pitch session for fledgling businesses in the Central Region to offer them financial and training assistance under the MTN Enterprise Support Programme.
A pitch session is used in the capital raising community to present business ideas ‘pitching’ to investors.
The MTN’s Enterprise Support Programme, which commenced last year (2023), seeks to support businesses with loans of up to GHS20,000 with flexible payment terms and offering them training in customer relations, financial management, and branding, among others.
The programme, being executed in partnership with ‘Innohub,’ a business development organisation, targets startups by women, young people aged 18 to 35, and physically challenged persons.
The second edition, which has commenced in the Central Region, is targeting a minimum of 100 businesses from three regions including the Volta and Eastern regions.
A total of 65 businesses showed up from across the Central Region alone, with a variety of in
novative and bankable business ideas to make a case for the support.
They included 30 women and 15 youth-led businesses whose proposals were subjected to strict enquiry by a panel of three judges to ascertain their bankability.
Majority of them who are working towards export, are into farming, fish processing, rabbitry, piggery, fruits and vegetable processing, yoghurt making, and wheat, rice and millet processing.
Similarly, the panel interviewed all 20 physically challenged persons on the status of their businesses and the level of support they needed.
Madam Cynthia Mills, the Economic Empowerment Advisor of MTN Ghana Foundation, explained that the programme was a deliberate effort to empower young Ghanaian businesses, particularly in the agribusiness sector.
The maiden edition, she noted, supported120 beneficiary businesses from the Western, Ashanti and Greater Accra regions, which were now doing very well and repaying their loans religiously.
She explained that the repayment of the loan was designed
to suit the nature of the business to offer them some respite and convenience.
Madam Mills expressed excitement with the businesses presented and applauded the owners for their innovation and relentlessness.
‘The businesses are very impressive and innovative. Prior to this, I did not know that a lot of the women who are into the fishing industry had their own canoes and boats, and some are into the sales of the products and services,’ she said.
She encouraged the entrepreneurs to work harder and entreated them not to compromise the quality of their products.
‘Whatever you are doing, do it well. You have to start somewhere, and we hope that if you are not chosen today, you don’t lose hope. It is a five-year project and so it will certainly come to your area,’ she stated.
Source: Ghana News Agency