The entrepreneurial spirit in Ghana’s Bono East Region is at an all-time high as about 300 small business owners gathered in Techiman to pitch their business ideas for a spot in th
The report indicates that the entrepreneurial spirit in Ghana’s Bono East Region is at an all-time high as about 300 small business owners gathered in Techiman to pitch their business ideas for a spot in the prestigious MTN SME Support Programme.
It further notes that now in its fourth year, the five-year initiative, implemented by the MTN Foundation in partnership with Innohub Foundation, has entered its crucial Pitch Competition and Selection Phase.
The event brings together shortlisted entrepreneurs, giving them a platform to defend their business models before a panel of judges, with only 150 of them set to proceed to the next stage of intensive support.
Since its inception, the programme has made significant strides in Ghana’s SME ecosystem. Over the past three years, it has supported 453 Small and Medium Enterprises (SMEs) across nine regions of the country.
The initiative has committed an impressive GH¢5 million in funding to entrepreneurs, leading to the creation of 37 new jobs and a remarkable 19% revenue growth, from GH¢25.1 million to GH¢29.9 million, among 290 participating businesses.
Speaking to JoyNews, Cynthia Mills, Economic Empowerment Adviser at the MTN Foundation, underscored the programme’s objective of driving economic transformation through grassroots enterprise.
“The purpose of the programme is to ensure that we identify businesses that are very viable, that can create jobs and also help grow the economy. We are here in Bono East to listen to them and ensure that we select the best to support,” she stated.
While the financial injection is crucial, the programme’s leaders emphasise that capacity building is the true game-changer for these businesses. The selection process is rigorous, requiring entrepreneurs to clearly demonstrate their market understanding, business potential, and growth plans.
Gyasi Juliet Yayra, Programme Lead at Innohub Foundation, explained that her organisation is focused on the long-term sustainability of the beneficiaries.
“Beyond the funding, we are here to provide the needed training and capacity building. It’s not just about the money; we want to ensure these beneficiaries have the skills to sustain their growth,” she noted.
The pitch sessions indicated a diverse range of business concepts. Importantly, the programme remains inclusive, deliberately supporting not just technology startups, but traditional and established businesses that are the backbone of local economies, including those in agriculture, food processing, trading, manufacturing, and services.
Fafa Befoe, one of the judges at the event, expressed particular enthusiasm for the agribusiness pitches, noting their potential to solve critical challenges in the region.
“I am particularly impressed with the agribusiness ideas. Some of them are tackling post-harvest losses, which is a major issue here. It is a laudable idea worthy of support,” she said.
For the competitors, the stakes are high. Success in the pitch phase does not guarantee automatic selection, but it is a vital step towards receiving comprehensive business development support, coaching, and financial assistance.
