A social enterprise focused on accelerating the growth of small and medium enterprises in Ghana, Samaritan Angels Limited has launched its flagship I Am Investible (iAi) Project which aims to accelerate the growth of local enterprises and facilitate their growth to create 20,000 jobs over the next three years.
The project aim is to provide Ghanaian entrepreneurs as well as formal and informal start-ups with financial assistance, mentorship and technical support to accelerate the growth of the beneficiary businesses.
A projected 200 enterprises are expected to receive a share of a GH₵10million (GH₵3million cedis a year) grant while 2,000 others will receive mentorship and technical support over the next three years.
Addressing the launch of the iAi project on Monday in Accra, a Board Member of the Samaritan Angels Limited, Nana Yaw Amponsah, said the project will empower small and growing businesses to contribute to the economic development of Ghana by creating jobs.
He said the board had set the target for beneficiaries to employ at least one individual in their enterprises after receiving the support.
The Managing Consultant of iAi, Angelina Diyuoh Minski said SAL would support SMEs using its ABC Model which signifies Access to small grants of up to 50,000 cedis to enterprises, Business advisory services and Capacity development.
“We hope that the enterprises will be able to contribute to the economic development of Ghana by creating at least one job each,” Mrs Minski said.
“Samaritan Angels is here to support formal and informal businesses to be able to have funding to scale up their businesses”.
The CEO of eTransact and Head of Mission, Commonwealth Enterprise and Investment Council, Mr John Apea, assured that his outfit would support iAi to make its vision to resource SMEs a reality.
He urged the initial beneficiaries to display high levels of integrity to ensure that more businesses are able to benefit from the iAi.
Who qualifies to apply
Entrepreneurs in Ghana between the ages of 16 and 55 in any sector can visit www.iaminvestible.com to apply. Applicants in any of Ghana’s 16 regions are to upload a two-minute video speaking about their business or prepare a 250-word pitch in addition to a 150cedis processing fee at submission.
The pitches will be evaluated for funding and support by a four-person judging panel comprising the CEO of GUBA, Dentaa Amoateng MBE; Angelina Diyuoh Minski; CEO, EMI GROUP AFRICA, Ekow Mensah; and CEO of HORSEMAN, Tonyi Senayah.
The Minister of Employment and Labour Relations, Ignatius Baffour-Awuah in an address read on his behalf by the Deputy Minister of Employment and Labour Relations, Bright Wireko Brobbey said the iAi would enhance the competitiveness and growth of SMEs and support the government’s job creation agenda.
He was certain that with the holistic support provided under the project, SMEs would contribute more to the development of the country.
He said the government would continue to explore innovative ways to support private sector projects such as iAi.