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Business News of Tuesday, 25 August 2020

Source: Ernest Armah, Contributor

German-funded programme to provide young businesses with assistance

COVID-19 Relief Programme for Ghanaian Entrepreneurs COVID-19 Relief Programme for Ghanaian Entrepreneurs

In response to the business challenges associated with the onset of COVID-19, especially on small businesses, enpact e.V, a German NGO, has set up a COVID-19 Relief Programme, through its “Empowering Entrepreneurship Initiative” and has opened calls for applications from Ghanaian Entrepreneurs.

The programme will provide mentoring, technical, and financial support of 9,000 Euros each for 50 promising Ghanaian businesses so that the participants can continue to contribute to the economic upswing and to preserve and create jobs in Ghana.

The COVID-19 Relief Programme is supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ).

It invites young, innovative Ghanaian businesses from all sectors to apply for its COVID-19 Relief Programme. The project aims to support the participants in coping with the economic impact of the COVID-19 crisis. The Strategic Partnership Technology in Africa (SPTA) works in cooperation with enpact to promote the implementation of the programme.

The “Empowering Entrepreneurship Initiative” is launching with two programmes to provide in total nearly 3 million Euros to 330 founding teams across six countries; Egypt, Ghana, Indonesia, Jordan, Kenya, and Mexico.

Ms Regina Bauerochse Barbosa, GIZ Ghana Country Director, said, “COVID-19 has thrown us into extraordinary times, and the daily reality for businesses, especially promising start-ups is not pleasant. GIZ recognizes this and that is why we, commissioned by BMZ, are supporting this initiative to help empower young businesses and position them firmly amid the virus. One thing the pandemic has taught us is to look beyond the norm and picture how things could be. Therefore, I urge all beneficiaries of this initiative to not just rely on the support we can give, but to continue to look for innovative and creative ways to grow and scale.”

Any business in its early stages that had a functioning and promising business model before the COVID-19 crisis is eligible to apply. The aim of the initiative is to support founders financially and structurally in the pandemic.

enpact e.V. launched its activities in West Africa in 2017 and has since implemented several international and national mentoring programmes for entrepreneurs, along with the launch of a physical hub in Accra to host programmes for ecosystem enablers and support organisations to build the Ghanaian startup ecosystem.

“Empowering entrepreneurs is at the core of enpact. With this initiative, we are able to go above and beyond for young, innovative Ghanaian founders and support them in these challenging times - not only financially, but also with network, resources, and dedicated mentoring for each business,” says Ernest Armah, Project Lead for Ghana.

The COVID-19 crisis presents businesses worldwide with unprecedented challenges, and young organisations especially are the worst hit. Through a combination of mentoring, workshops, network building and financial support, the Empowering Entrepreneurship Initiative supports participating business owners to make them resilient and sustainable in the long-term and to stimulate job creation locally.

Businesses can check their eligibility and apply here: