NEWS

On Thursday 25th May, Invest in Africa hosted an exclusive briefing event featuring the Ghana Deputy Minister of Trade and Industry, Hon. Robert Ahomka-Lindsay on Ghana’s investment prospects and opportunities at EY London.

Hon. Robert Ahomka-Lindsay shared the current administration’s priorities to, within the next four years, make Ghana the most attractive investment destination in Africa once again. According to the Deputy Minister, priority industries include aluminium, garment & textiles, industrial salts (alkaline), pharmaceuticals and petro-chemicals (gas and crude).

Nurturing and supporting the current job creators in the Ghanaian economy is another focus of the current administration. Hon. Ahomka-Lindsay discussed how the government have begun a stimulus programme for companies with the greatest job creation potential by providing them with tax breaks and other monetary incentives to help them stay in business and create more jobs.

The Deputy Minister also highlighted the country’s bureaucratic structures as an obstacle to doing free and open business, explaining how the government already has plans in place to successfully de-bureaucratise these systems.

He expressed his delight to be working with Invest in Africa to drive investment and create new opportunities with local SMEs. Invest in Africa’s online platform, the African Partner Pool (APP), connects SMEs to large companies helping SMEs access new tenders, training and finance.

With an historic election in the rear view for the country, Ghana sits at a crossroads in its economic and development strategy. Once the beacon of the Africa rising narrative, Ghana’s tumultuous economic growth, energy crisis and falling commodity prices in recent years have caused some panic and anxiety within the general public. However, Hon. Ahomka-Lindsay believes the country’s best days are still yet to come.

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On Thursday the 1st of June, Invest in Africa, in collaboration with Business Council for Africa, hosted an event featuring Ghanaian businessman and politician, Dr. Papa Kwesi Nduom, on the economic climate in Ghana post-elections at Simmons and Simmons.

Increasingly, Ghana has been victim to setbacks in economic growth due to a power shortage phenomenon. However, the new administration has promised an end to this economic hardship and the rampant unemployment among youths.

Dr. Papa Kwesi Nduom, with his experience in diverse business ventures and as founder of the Progressive People’s Party (PPP), examined the current business conditions to provide prospective solutions. He explained that while Ghana’s economic environment is good, systems need to be put in place to allow for the available opportunities to be cultivated. To achieve this, Nduom’s focus was on deregulation: the government must remove their influence on business transactions in the private sector. Furthermore, the underdevelopment of the infrastructure sector provides a promising opportunity for private sector actors to take advantage of; funding should be provided by the private sector and not the state.

Prosperous economies are characterized by increased efficiency, as transaction costs are reduced, and Nduom also suggested the re-allocation of the transportation, energy and water sectors to the private sector. In having focus and financial support fine-tuned to specific sectors, actors would not be overwhelmed with the responsibility and each can strive to achieve maximum functioning in their respective specialities.

Lastly, Nduom placed an emphasis on the importance of education, a sector where government expenditure should be directed. This will lead to an increase in the educated populace, the creation of more jobs and the potential for economic growth.

Invest in Africa’s (IIA) mission is to boost the economies in African countries. IIA strives to achieve this by pooling industry resources, knowledge and networks to support job creation and the development of local businesses. Their programmes, which include the Business Excellence Programme (BEP), function to improve human capital or the standards of local. In addition, the African Partner Pool (APP), a pioneer cross-sector business directory, makes local sourcing more efficient by connecting larger firms and local SME’s; thus creating a level playing field and delivering wide a socio-economic benefit.

Currently, the new administration in Ghana seeks to build the most business-friendly economy in Africa. The President believes this goal, which will create business and employment opportunities can be achieved through empowerment of the private sector.

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www.africanpartnerpool.com. Another initiative of Invest In Africa is the Business Excellence Programme, a combined Development Partners & Private Sector funded programme with the aim of building businesses to be more competitive.

 

Sam Brandful, the Ghana manager for Invest in Africa expressed the view that the collaboration with the GSA will guide local businesses to expand, understand and meet Ghanaian and international standards and empower local businesses to support the the Ghanaian economy while addressing major challenges which affect their growth.

Ghana Standards Authority joins the cross sector group of companies that IIA is currently working with through various initiatives. These include: Tullow Ghana, EY, AGI, AB & David Law, Ecobank, Modec Ghana, UT Bank, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE, AFDB,FMO, B&FT, Multi Media Group (MMG) and Dun and Bradstreet.

 

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Ghana Standards Authority and Invest in Africa have signed a joint Memorandum of Understanding (MOU) that aims to make Ghanaian businesses, especially SMEs, become more competitive locally and globally through improved quality and access to financial and technical support.

Following the 2016 African Partner Pool (APP) Business Forum which was held under the theme of “Creating Thriving Businesses through Taxation & Quality Standards,’ the relevance of information on quality standards for business growth was evident and this has led to the signing of this Memorandum of Understanding to help bridge the knowledge gap of Ghanaian businesses, especially the SMEs.

This MOU will allow Invest in Africa to advertise the services of the Ghana Standards Authority (GSA) on the Invest in Africa and African Partner Pool websites, with direct links to the GSA website so as to inform and simplify the process of accessing the services of GSA.. SMEs will also have the opportunity to participate in events, training programmes and forums that focus on quality standards and their application to business growth and development.

The Ghana Standards Authority (GSA) which is the National Standards body was established by the Standards Act 1973 (NRCD 173). The Authority is also the custodian of the Weights and Measures Act (NRCD 326, 1975). These legislations together mandate the Authority to undertake: national standards development and dissemination, product certification scheme, pattern approval of new weighing and measuring instruments, destination Inspection of imported high risk goods, advise the Ministry of Trade, Industry, on standards and related issues amongst others.

Signing the MOU, the Executive Director for Ghana Standards Authority, Prof Alex Dodoo pointed out the need to create awareness for the services of the Authority, and their readiness to facilitate, direct and assist SMEs to produce quality made in Ghana goods and access their services to meet the required standards.

Invest in Africa (IIA), a cross-sector partnership of companies with the vision to create thriving African economies, has been set up to give businesses access to skills, finance and new markets. This is done through its key initiatives the African Partner Pool (APP), an online business platform that connects international companies to validated local businesses. www.africanpartnerpool.com. Another initiative of Invest In Africa is the Business Excellence Programme, a combined Development Partners & Private Sector funded programme with the aim of building businesses to be more competitive.

Sam Brandful, the Ghana manager for Invest in Africa expressed the view that the collaboration with the GSA will guide local businesses to expand, understand and meet Ghanaian and international standards and empower local businesses to support the the Ghanaian economy while addressing major challenges which affect their growth.

Ghana Standards Authority joins the cross sector group of companies that IIA is currently working with through various initiatives. These include: Tullow Ghana, EY, AGI, AB & David Law, Ecobank, Modec Ghana, UT Bank, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE, AFDB,FMO, B&FT, Multi Media Group (MMG) and Dun and Bradstreet.

 

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Invest in Africa Ghana has announced the appointment of Mr Clarence Nartey as its new Country Manager effective 4th September 2017. He succeeds Mr Sam Brandful, who has successfully lead Invest in Africa for the past 4 years.

Mr Nartey founded 3i Consult Ltd – a Pan-African Marketing Strategy & Talent Development Consultancy in 2016.

Prior to setting up his consultancy, he was the Marketing Director for Unilever Ghana (and also served on the board of directors) from July 2013 to end of 2015.

His corporate career (with the multi-national giant, Unilever) spanned 15 years. During this period Mr Nartey held several senior multi-functional roles in operations, audit, marketing and strategy development across South Africa, Turkey, Singapore and Ghana.

Mr Nartey assumes responsibility for the running of IIA Ghana after a number of landmark achievements, overseen by his predecessor Mr Brandful, including the launch of the African Partner Pool (APP), an online portal connecting Ghaian businesses to larger corporates tenders, as well as the the Business Linkage Programme (BLP), a business skills accelerator scheme run specifically for Ghanaian SMEs.

Invest in Africa (IIA), is a cross-sector partnership of companies that has been set up to provide access to new markets, skills, and finance to SMEs while reducing the risk of Multi National Companies (MNCs) or larger companies doing business in Africa.

Key partners of IIA include: Tullow Ghana, EY, Association of Ghana Industries (AGI), AB & David Law, Ecobank, Modec Ghana, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE.

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Invest in Africa has partnered with the Kenya Extracives Programme (K-EXPRO) to run a Credit Guarantee Scheme in Turkana, Kenya. The aim of this initiative is to help SMEs improve their credit, making it easier for them to access finance without having to give collateral.

TURKANA RECRUITMENT DRIVE

On the 17th January 2018, Invest in Africa is conducting a Supplier recruitment drive at the Enterprise Development Centre (EDC), located at the Tullow Community Resource Centre (TCRC), Lokichar. The Supplier Recruitment Drive exercise targets to recruit and introduce SMEs to the Credit Guarantee Scheme. It will also give the local suppliers an opportunity to:

  • Meet and network will fellow suppliers and APP Partners.
  • Register and learn how to utilize APP features, which include; access tenders on @APPTenda-Space and promoting your business on @APPBiashara-Network
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Right Consult, an electronic security firm, has won the ultimate award–The Star Award of the Year– at the maiden Invest In Africa (IIA) SME Excellence Awards held at the Labadi Beach Hotel in Accra.

Country Manager of Invest In Africa, Clarence Nartey, challenged SMEs to build local businesses for global markets. He revealed his outfit will be investing heavily in the capacity building of SMEs in the country.

According to Mr. Nartey, there are ongoing partnerships with government, through the Ministry of Business Development, to grow about 20 indigenous companies into multinationals capable of competing globally within the next four years.

According to him, IIA Ghana is aimed at: “coordinating private sector efforts to build local content and develop the needed capacity and skills for sustained growth and jobs creation, it has grown to become a relevant local content player with a vibrant home-grown business ecosystem.”

Country Manager of the African Development Bank, Dr Yero Baldeh, urge the government to prioritize some key areas to enable local and upcoming entrepreneurs to expand their tentacles.

Dr. Baldeh further said an enhanced access to finance, reinforced business support, provision of support for entrepreneurship development as well as the promotion of an enabling environment will help entrepreneurs to compete favourably.

Speaking on the importance of the Excellence Awards, Dr. Yero Baldeh was hopeful the ceremony will “empower SMEs to find new innovative ways of resolving challenges that confront them and enable them to seize opportunities presented by regional and international markets.”

Deputy Minister of Trade and Industry, Carlos Ahenkorah, also reiterated government’s resolve to embolden the private sector in fulfilment of its industrialization agenda.

He opened that efforts are being made to link young entrepreneurs to the relevant business market through the establishment of incubators across all University campuses in the country.

The Invest in Africa (IIA) SME Excellence Awards have been developed to honour local businesses who, through the ongoing flagship business linkage and skills development programme of the IIA, have put up enviable potential to scale up and participate in supply chains of larger organisations both in Ghana and abroad.

CEO of Right Consult, Godwin Kofi Akuamoah, said “the award is a recognition of the hard work of the entire team. This will motivate us to expand our business to other West African countries outside of Ghana and Sierra Leone where we are currently present.

Other winners were Stredstar Engineering and Construction LTD winning Sustainable Business of the Year category, Joissam Ghana Ltd taking home the Scale-up Business of the Year award, AB Engineering winning the Business Transformation Award.

The rest are Asheba Africa grabbing the Business Innovation Award and Female Entrepreneur Award, Sustainable Agro LTD for the Business Linkage Award, Agri Access Ghana LTD for Award Merit Award among others.

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denis.mbau@investinafrica.com

 

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On Thursday, March 8, Invest In Africa (IIA) – Kenya entered into a collaboration with Educate Global, a Kenyan - based private equity asset manager focused on education. Educate Global is a newly-formed fund management company aiming to invest in small and medium businesses, in sectors with direct impact on educational outcomes for children and young people in East Africa.

IIA is working to enhance SME access to skills, markets and finance in partnership with leading organizations in Kenya to drive job creation and enterprise development in the economy. IIA’s collaboration with Educate Global represents a significant opportunity to share networks and expertise to support SMEs across Kenya with vital skills, markets and access to finance.

Together with its Partners, IIA has built a unique, world-class online technology platform – The African Partner Pool (APP) that currently has a cross-sector database of over of over 1,300 vetted SMEs from Kenya. The platform directly links SMEs to procurement opportunities from larger organizations sourcing for goods and services locally and also offers capacity building to enable address their skills and knowledge gaps.

IIA Partners with Tullow Oil, Equity Bank, EY, Clyde & Co, Ecobank, Safaricom, Shell, Nation Media Group, AMSCO, Strathmore Business School, Keninvest, KEPSA among others.

Speaking at the launch of the Partnership, Wangechi Muriuki, COO Invest in Africa welcomed EGF to join its pool of leading Partners in advancing the agenda of SME growth and job creation in the economy. She stated that IIA is seeking to create 1 million jobs and connect SMEs to tenders worth USD 1billion.

“IIA is delighted to have EGF join our pool of partners. We are committed to building sustainable solutions to job creation and sustainable development in the country, and this partnership will go a long way in supporting our agenda’’, Wangechi said.

Sandrine Henton, Fund Manager at Educate Global, expressed her appreciation in Partnering with IIA, commenting: ‘’We are proud to partner with IIA and look forward to working together to support the growth of SMEs in Kenya.’’

For additional questions or information, please contact Denis Mbau on 0724988258 or denis.mbau@investinafrica.com

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As Printed in the Daily Graphic Newspaper by Elikem Kuenyehia) click here

Nearly ten years ago, Fuseini lost her job when the grant money dried up at the NGO where she worked. She couldn't find another job and her attempts at retraining as a teacher fell through when she couldn't find money to stay in the training programme. The gentle speaking Fuseini, turned to community work organising groups of people to join local peasants associations where they could learn improved farming methods. Camfed, an organisation dedicated to educating girls, chanced upon her and invited her into their peer-educator programme where she taught skills like financial literacy, entrepreneurship, conception and contraception to girls in school in English, and later to members of her community in Dagbanli. The lessons on conception and contraception she recalls,with glee, were enthusiastically received.

The 'Shea' strength of butter

When Camfed later invited her to submit a pitch for a business idea competition, she decided Shea butter production could transform her fortunes and improve the circumstances of many of the women she encountered through her community work. Fuseini had learned Shea butter extraction, as traditionally practised by women in the North, at her mother's side when growing up." As the third of ten children, she would pick the nuts and then help out in the painfully laborious process of peeling, shelling, pounding, boiling, roasting, and a few other tedious tasks in-between, before finally skimming off and cooling the finished butter from the waste residue. And for all this hard work, her mother -like many other women - never earned much selling the butter raw. Fuseini's big idea was to add value by creating consumer products like scented body lotions from great quality Shea butter. Her business· idea won some funding, and after training trips to India and mentoring in Accra, Fuseini started her journey and has walked that path ever since.

Fuseini started Asheba Enterprises in 2012 and has built it through grit and organisational acumen from her home into an operation that supports some 600 women in over seven communities in Tamale where she lives: She continues to train other women's groups on her improved production methods that fetch high prices for her high quality butter. Fuseini has built a production and storage facility to reduce the women's workload. She also offers pre-financing arrangements to the women to take away any financial barriers that could prevent those interested in making a living from production of the butter from getting involved. Asheba Enterprise's product-line currently include Shea-butter-based baby pomades, hair food, body creams and mosquito repellent. Asheba Enterprise also exports tonnes of 100% natural Shea butter for cosmetic, food and pharmaceuticals uses.

Entrepreneurially skilled women create local opportunities

Fuseini pays 'her women' well because their economic empowerment matters to her. The financial support they are now able to provide makes them independent and respected members of their households, the mother of two says.

 

While the Shea nut tree holds immense economic value in Ghana's northern savannah -with some estimates at $100M each year, it is these largely uneducated rural women who have processed the nuts into butter in the past for much less than its true economic value. Fuseini's success is evidence that empowering women with entrepreneurial skills makes them better able to recognise and exploit available economic opportunities for themselves and their communities. Kwegyir Aggrey's famous quote, "If you educate a woman, you educate an entire nation", rings true here as well.

Enrolling with IIA

Fuseini was admitted into Invest in Africa's (IIA) Business Linkage Programme (BLP) in 2016, where she received training and was assisted to develop a road map to improve governance and financial reporting of her business. With new business development skills and an appreciation of business partnerships from IIA sponsored legal sessions, she has been able to establish promising new relationships that would open up her products in international markets and increase her market presence in Ghana in coming months. The BLP is helping to turn Asheba Enterprise into a global growth-oriented business.

Fuseini-was recently named IIA woman entrepreneur of the year at the maiden IIA Business Excellence awards for her determination and social impact. She has also made it to the top ten finalists in MTN's Heroes of Change Season four in recognition of the economic and social change her business is bringing to her community. The GHS 100,000 cash prize could make a huge difference for the communities her work supports as she is already planning other activities.

Fuseini intends next to embark on a tree planting campaign and to raise awareness of the need to protect Shea nut trees which are increasingly cut for firewood and charcoal. As it takes up to 20 years for the trees, which grow mainly in the wild, to reach maturity and begin bearing fruit, Fuseini hopes to reverse this threat to tree populations and the livelihoods of-her women in the North.

Ayisha Fuseini has come a long way from her days trying to make-ends-meet to respected entrepreneur who sustainably exploits her community's resources to raise the economic circumstances of women and their families. This will likely remain Asheba Enterprise's greatest strength as it moves to expand into new markets.

To learn more about IIA's programme's, click here

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