Accra, June 15, GNA – MTN Foundation, in partnership with Innohub Foundation, has launched the fourth year of its SME Support Programme, with a focus on empowering women, youth and differently-abled entrepreneurs across Ghana.
The programme, implemented in nine regions over the past three years, has so far supported 453 small and medium-sized enterprises (SMEs), creating 37 new jobs and helping 290 participating businesses to increase their revenues by 19 per cent.
A joint statement from the two organisations said the revenue of the 290 SMEs increased from GH¢25.1 million to GH¢29.9 million during the period.
It said the programme also enabled 35 businesses to secure additional funding through grants and loans, with beneficiaries receiving an average of GH¢52,646.33.
The organisations said the results demonstrated the importance of targeted enterprise support in helping businesses improve productivity, strengthen operations, access markets, mobilise resources and pursue sustainable growth.
The impact of the programme has also been reflected in the experiences of beneficiaries across different sectors.
A differently-abled farmer, for instance, increased maize production from 21 to 37 bags in a single season after receiving support for ploughing services, seeds and fertiliser.
The improved production, the organisations said, also contributed to sustainable livelihoods for workers engaged by the enterprise.
Another beneficiary said support from the programme enabled the business to complete formal registration as an authorised dealer, providing access to genuine products and spare parts directly from the manufacturer.
The entrepreneur reported an estimated 50 per cent increase in sales and profits following the development.
A business operating in sustainable agriculture also reported improvements in production, logistics, sales and market reach, as well as the establishment of new partnerships.
For its fourth year, the programme is placing particular emphasis on youth-led, women-led and differently-abled-led businesses, especially those with limited access to formal business development support.
It will also target traditional and community-based enterprises, including gari and fish processing, agriculture and food production, as well as women-led groups and community enterprises.
The organisations said many such businesses already create livelihoods and serve local markets but often lack access to finance, business support and networks needed to expand.
The Year Four selection process is currently underway, with pitch activities being conducted in the Bono, Bono East and Ahafo regions.
Selected businesses will receive structured business development support, including opportunities to strengthen their networks, access markets and obtain financial assistance to support growth.
MTN Foundation and Innohub Foundation said they would also document beneficiaries’ experiences and progress through stories, photography, video and digital content throughout the fourth year.
GNA