By Mildred Siabi-Mensah, GNA
Takoradi, Oct. 29, GNA – Madam Francesca Brenda Opuko, the Chief Executive Officer and Founder of Solution Oasis Limited, says access to funds for women-owned micro, small and medium-sized enterprises can create more jobs for local communities.
She said this could strengthen local economies and improve upon livelihoods, adding that greater investment in women-led enterprises could transform the economy of the country.
She noted that although women continued to demonstrate stronger entrepreneurial skills, larger funding opportunities still mainly benefitted men.
Madam Opuko, who had built her business around Ghanaian shea butter and traditional black soap, said women needed to develop the confidence to seek substantial funding to scale up their operations and compete internationally.
She made the observations, while recounting her entrepreneurial journey, which began with door-to-door marketing of locally made skincare products and had since grown into a business serving both domestic and international markets.
Madam Opuko said access to funding had been critical to the growth of her business, particularly in acquiring production equipment, purchasing raw materials and expanding operations.
She recalled facing difficulties in securing a bank loan at the early stages of the business, because of assumptions that her husband could finance her operations.
She said the experience highlighted the challenges women entrepreneurs sometimes faced when seeking financial support for businesses they independently owned and managed.
Over the years, Madam Opuko said, she had strengthened her financial management skills, learning the importance of maintaining proper records, communicating with financial institutions during difficult periods and identifying financing options with favourable terms.
She said the company had financed most of its production equipment through loans and grants and had also secured a two-year loan through Fidelity Bank, supported by the MasterCard Foundation, to purchase shea butter during the harvesting season.
Madam Opuko said prudent financial management had enabled the company to meet its loan repayment obligations and maintained stable operations.
Access to appropriate financing, she added, had helped the company purchase raw materials in larger quantities, plan production ahead and meet operational costs, while ensuring regular salaries for employees.
Madam Opuko said empowering women through shea butter production, the company worked with about 600 women in northern Ghana who produced shea butter, a traditional ingredient used in skincare and other products.
She explained that shea butter was obtained from the kernels of shea fruits, which were processed by women, particularly during periods when farming activities were less demanding.
The company processed shea butter into soap flakes, some of which were used to produce black soap, while others were combined with oils, herbs and fragrances to manufacture organic skincare products.
She said the business had grown to employ 25 people across management, production, logistics, sales and merchandising.
Its products were available in supermarkets and shopping malls across Ghana and were also sold in West, Eastern and Southern Africa, with exports to the United States and Australia.
Madam Opuko attributed the expansion to hard work, investment in people and the ability to secure financing for production and market development.
She said employing and training the right people had strengthened the company’s operations and improved its capacity to serve growing markets.
Madam Opuko said successful women-led businesses had benefits beyond the owners, as they supported families, created employment and provided opportunities for others to develop their skills.
She said the company also offered part-time employment to young people seeking to further their education, helping them combine work with their studies.
She expressed optimism about the growing participation of young women in businesses, particularly their use of artificial intelligence and other technologies to improve upon their operations.
However, she called for greater investment in women entrepreneurs, saying access to appropriate financing could enable them to expand their businesses and contribute more substantially to national development.
She said empowering women economically had the potential to strengthen families and improve upon the wider economy.
Looking ahead, Madam Opuko said the company had acquired lands at Goma, Mayenda, to establish a new factory that would improve upon the working conditions of women involved in its supply chain.
She said the women currently used traditional methods to produce black soap, exposing them to smoke and grime during processing.
The proposed facility would provide a cleaner and safer environment, including the use of eco-cookers to reduce smoke exposure, while allowing them to continue their communal production activities.
She said the project was part of her commitment to improving the livelihoods and working conditions of the women whose efforts supported the company’s operations.
Solution Oasis Limited, is a Ghanaian company producing organic skincare products from shea butter
Madam Opuko explained that her long-term ambition was to develop Beauty Secrets into a multimillion-dollar, internationally competitive company.
Having spent years building the business through determination and hard work, she hoped to establish a lasting legacy and eventually transfer its management to the next generation.
She said her entrepreneurial journey demonstrated the importance of perseverance, sound financial management and investment in people in building a sustainable business.
GNA
Edited by Justina Hilda Paaga/ Christabel Addo
Reporter: Mildred Siabi-Mensah
Email: [email protected]