Social Enterprise Ghana holds forum to strengthen members
Mrs Amma Serwaa Sefa-Dedeh Lartey, Chief Executive Officer of Social Enterprise Ghana (SEG), says investors take particular interest in a Company’s cash flow to determine its ability pay back invested or loans.
“People giving out loan are looking at your cash flow whether it is healthy and sustainable to enable you service the debt. Who you are and how you are structured determines the kind of investment you can get.
“In making the decision about who you are, you need to look at your business module and what you need to become a sustainable Social Enterprise,” she said.
Mrs Lartey said this during the Ghana Social Enterprise Forum in Accra to celebrate contributions of social entrepreneurs towards Ghana’s economy and the growth of their enterprises.
The event, attended by members and other affiliates of the association from all the 16 regions was on the theme: “Social Enterprise: Catalyst for Economic Empowerment.”
It was organised in partnership with the National Board for Small Scale Industries (NBSSI), British Council, Reach for Change, Springboard Road Show Foundation and the Business Sector Advocacy Challenge (BUSAC) Fund.
Mr Sampson Abankwa, Trade Policy Analyst/ Micro, Small and Medium Enterprises (MSME) Development Expert for NBSSI, said the MSME ecosystem was too huge a responsibility for only one institution to bear.
He said, as such, it was necessary for financial institutions to regularly partner each other to solve problems peculiar to the sector.
He said Ghana was considered as one of the countries in the world with the largest number of female entrepreneurs, adding that, 46 per cent of enterprises in Ghana are owned by women.
Mr Abankwa said more than 90 per cent of businesses in the country belonged to the informal sector and NBSSI would ensure that most of them were formalised to increase economic development.
He said the COVID-19 pandemic brought out a lot of challenges to the economy and the few who survived were those who had incorporated a little bit of technology in their businesses.
He said, they would in the near future, engage relevant partners in training MSMEs to have structures that would add a digital touch to their way of running their businesses.
“Again, we would work hand-in-hand to ensure that the teeming youth who have innovative ideas to solve societal problems would get the opportunity to work with relevant partners to help these ideas become a reality,” he said.
Mr Edwin Zu-Cudjoe, Executive Director for SEG said the institution was working with government and other relevant duty bearers in drafting and promoting a Social Enterprise Policy.
He said they have trained more than 20,000 Social Enterprise beneficiaries and partners across Ghana and 68 of their members have been assisted to access financial assistance from the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).
Again, Mr Zu-Cudjoe said SEG has trained 826 women and youth to access government services.
Social Enterprise Ghana is the network of high impact social enterprises and entrepreneurs operating in Ghana.
It has a registered membership of 590 businesses nationwide operating in climate-smart agribusiness, agroforestry, waste management and recycling, health services, education, technology, among others, to solve challenges for the poor, vulnerable, and marginalized in an inclusive and dignified way.
Source: Ghana News Agency