The collaboration is a two-month business accelerator for women-led social enterprises focusing on businesses that have a clear positive social and/or environmental mission.
The initiative will enable 50 women-led social enterprises to become more investor-ready, connect them with investor partners and help them access funding.
The impact of the COVID-19 pandemic on women entrepreneurs was severe and support programs like this can help build the resilience of these businesses.
“We are delighted through this program to bring all these together by enabling women social-enterprises who are building their businesses despite the challenges of Covid-19 grow their businesses and their social and environmental impact.”Chikodi Onyemerela – Director of Programmes and Partnerships, British Council Ghana
During the program, a needs assessment of the businesses will identify gaps that they need to address in order to become eligible for funding.
The accelerator program will support the women to fill in the gaps through interactive learning workshops, targeted coaching and expert support.
Participants will be taken through sessions on improving their business model, proper bookkeeping and financial management systems, growth strategy and marketing including customer acquisition strategy.
“Ghana has been ranked as the world’s third leading economy with the most women business owners over 36%. This is great news for us and what we do at Social Enterprise Ghana. This accelerator will support women social enterprises to deliver even more social and environmental impact through their businesses” said Edwin Zu-Cudjoe, Executive Director, Social Enterprise Ghana.
Investor partners including banks, angel networks and SME growth financiers will also assess the businesses for investment and provide feedback and support.
“The British Council Ghana has supported social enterprises and women-led businesses over the years through diverse programs. Our research on social enterprise and gender has provided valuable insights to the ecosystem,” said Chikodi Onyemerela, Director of Programmes and Partnerships, British Council Ghana
“We are delighted through this program to bring all these together by enabling women social-enterprises who are building their businesses despite the challenges of Covid-19 grow their businesses and their social and environmental impact.”
The expected outcome of the program is for investor partners; ShEquity, ABSA Bank, ACCESS Bank, Grofin, Built, Lady Angels Network and other investors to interact with and invest in the businesses of the social enterprises.