MTN has invested more than GH¢1 million this year to support the growth of Small and Medium Enterprises (SMEs) in Ghana through a dedicated empowerment program. The initiative, aimed at driving innovation and expansion, recently held a support event in Ho, Volta Region, led by MTN’s Chief Corporate Services and Sustainability Officer, Ms. Adwoa Wiafe.
According to Ms. Wiafe, out of the 150 SMEs selected across the Volta, Central, Eastern, and Greater Accra regions, 52 are from the Volta Region. These businesses, which include youth-owned, women-led, and differently-abled enterprises, will receive seed capital ranging from GH¢10,000 to GH¢20,000. With statistics from the Ghana Statistical Service showing that SMEs contribute approximately 70% of Ghana’s industrial output, MTN’s partnership with Innohub Foundation aims to boost these essential businesses for national economic growth.
Since its inception in 2022, the program has supported 140 businesses in the Ashanti, Greater Accra, and Western Regions. The support includes training in critical areas like bookkeeping, pricing, branding, sales, and digital marketing. Ms. Wiafe encouraged SMEs to provide high-quality services and maintain hygienic practices, especially for businesses in the food sector.
King David, Executive Director of Innohub Foundation, praised the partnership, highlighting its impact in empowering SMEs to grow sustainably. He noted that the program’s first year saw significant gains: revenue among supported businesses increased from GH¢7,631,441 in 2022 to GH¢11,514,543 in 2023, with a rise in funding from GH¢294,700 to GH¢359,069.