The leading telecommunication network in the country, MTN Ghana, has disbursed GHc1.3 million to 140 small and medium enterprises (SMEs) selected from the Greater Accra, Western (Takoradi) and Ashanti regions.
MTN Officials in a group photograph with beneficiaries
The support amount to beneficiaries, under the economic empowerment project of MTN Ghana, ranges from a minimum of GHc5,000 to a maximum of GHc10,000, depending on the request application each of the 140 beneficiaries submitted.
A section of the beneficiaries
Speaking at a short ceremony on Tuesday, 31st October 2023 at Nhyiaeso to introduce 27 out of 140 beneficiaries from the Ashanti Region, Madam Cynthia Mills, the Economic Empowerment Advisor at MTN Ghana, advised the beneficiaries to put the funds to good use to help them expand their businesses and employ more people.
According to her, the overall intention of the Board of Directors and Management of MTN Ghana for the five-year economic empowerment project for SMEs is to help them expand their businesses and employ more people as part of measures to help fight against poverty and unemployment in the country.
She informed the beneficiaries who had been taken through a two-month intensive training in the areas of business development, financial management, social media marketing, customer care, etc. that they had also been given merchant accounts.
Madam Cynthia Mills said interest-free loans were given to three categories in SMEs, which are youth category, women’s category and persons with disabilities category.
‘”We’re giving you the funds very close to Christmas because we know people would need your products more in this period but please don’t use the money or the funds for Christmas festivities, funeral, clothing and social events,” she advised.
“We expect you (the first batch of the five-year project) to demonstrate to us your commitment to expand your businesses, employ more people and also pay back the loans on time to enable others to also benefit. We wish to cover other regions in the coming years,” she added.
The Economic Empowerment Advisor said after their selection, they did background checks on all the beneficiaries to ensure that indeed they deserved to be supported, adding that MTN-Ghana would monitor and follow up on them to ensure that they make good use of the funds and what they were taught during the two-month training.
A number of the beneficiaries were given the opportunity to share what they had learnt during the training, how they had benefited from it and how they would use it to improve their businesses.
On his part, Mr. Nelson Amo, the Chief Executive Officer (CEO) of Innohub Enterprise Support Organization, a not-for-profit organization (NGO), commended MTN-GHANA for the initiative, for which reason he said his organization had associated itself with the project.
He said MTN Ghana had demonstrated its commitment and dedication to poverty and unemployment reduction in the country with the five-year economic empowerment project.
Mr. Amo stressed the need for the beneficiaries to make good use of the funds to improve and expand their businesses.
A number of the beneficiaries who spoke to the media couldn’t hide their excitement for being selected from many applications.
They, therefore, promised to adhere to what they were taught and use the fund for its intended purpose so as to support government’s unemployment and poverty reduction strategy.