English
Français
Ghana has one of the highest proportions of female-owned micro, small and medium enterprises (MSMEs) in the world (38% according to the 2021 Mastercard Index of Women Entrepreneurs). This is remarkable because these businesses operate within significantly less conducive entrepreneurial conditions than their counterpart male-owned MSMEs. Therefore, it is important to understand that a large proportion of female-owned MSMEs are born out of necessity rather than opportunity.
Access to finance remains a large obstacle for many agribusinesses in Ghana. This is even more pronounced for female-owned enterprises. Limited access to working and investment capital as well as relevant business development services (BDS) are recurring impediments for many female entrepreneurs, thereby inhibiting their capacities to grow.
The Access Bank Womenpreneur Pitch-A-Ton Competition is a means to reach out to female entrepreneurs (womenpreneurs). The overarching aim of the program is to improve access to finance readiness of women entrepreneurs by providing specific trainings in areas such as financial and business management skills, digital marketing, statutory compliance, among others. Moreover, the program is designed to promote networking opportunities and peer-learning exchanges among participating MSMEs. Launched in 2019, the programme is one of the first women-in-business support initiative of its kind in the industry. Since its inception in Ghana, over 100 women entrepreneurs have received over 1.2 million Cedis worth of grants and other non-cash prizes. Going beyond the prize winners, all successful participants form part of Access Bank’s network with links to specific savings & loan products targeting MSMEs.
For the second time GOPA AFC has supported Access Bank to implement the Womenpreneur Pitch-A-Ton Competition in order to improve access to finance readiness for female-headed enterprises. In 2022, as part of the former GIZ Programme for Sustainable Economic Development (PSED), GOPA AFC provided a virtual training for the top 50 participants from various sectors. In the 2023 edition of the Womenpreneur Pitch-A-Ton Competition, the focus of the initiative was on agribusinesses. Therefore, the GOPA AFC team from the GIZ Sustainable Employment through Agribusiness (AgriBiz) Programme came on board to support this initiative.
The AgriBiz GOPA AFC team was in charge of designing the application process and developing a tailored 4-weeks hybrid training, the Business Management Bootcamp (BMB). The training targeted the top 50 shortlisted womenpreneurs. The BMB comprised of a residential training and three weeks of virtual sessions in November/December 2023. Drawing on tried and tested adult learning approaches from the SME Business Training & Coaching Loop and other experiential learning concepts, participants were trained in Business Management Skills: from supply chain management to record keeping, from digital marketing to staff management. Different experienced trainers facilitated the various sessions.
Enthusiastic and focused participants during the training
Participants were particularly excited about the training approach. “The training was so interactive and involving”, said Naydia Awuku, the owner of Naybucks Juice.
“I’ve learned how to reduce costs and also how to improve the quality of the products. Also, I’ve learned how to calculate my selling price and my costs”, said Yvonne Nuoriyee Abiereba, owner of Edible Treats.
Participants rated the training overwhelmingly very positive
The residential part of the training also provided an excellent opportunity for participants to network and discuss future cooperations.
After the BMB, in December 2023, the business pitches took place at Access Bank Ghana Headquarters in Accra. All 50 participants were invited to pitch their business in front of a jury. In a closing ceremony in January 2024, all 50 participants were celebrated, and the top 10 winners were awarded cash (up to 100,000 GHS) and non-cash prizes (e.g. free website development). Apart from awarding womenpreneurs, based on the best business models and pitches, the Access Bank Managing Director’s Special Award went to the most environmentally sustainable business. A little exhibition of their various products concluded the event.
The 2023 batch of Womenpreneurs
However, our support does not end here. The provision of business development services should ideally go beyond mere training and include coaching or mentoring as well. This is key for internalising, adapting and integrating the learning outcomes that emanated from the trainings. As part of the ongoing support provided by AgriBiz, individual business coaches will now be assigned to interested enterprises to provide tailor-made support services. Whether it is facilitating access to finance, reviewing the marketing strategy or updating the business plan— over the next months, these womenpreneurs will have access to experts to work on their specific business-related issues.
Augustina Tufour, Tropical Snacks, one of the winners of the programme
For further information, please contact Samuel.KojoDarko [at] gopa-afc.de or Christoph.Pannhausen [at] gopa-afc.de.