Dumasua: The WAN-Hive Ghana, a Non-governmental Organisation (NGO), has successfully supported 50 women entrepreneurs in registering their businesses, as confirmed by Miss Janat Issifu, the Chief Executive Officer.
According to Ghana News Agency, the NGO extended this support through its 'Obaasima business challenge', which is designed to empower women entrepreneurs and enhance their business operations. Miss Issifu highlighted that the 'Obaasima challenge' has been a highly effective business incubation programme, consistently running for six years. She elaborated that the challenge offers women entrepreneurs innovative business ideas at no cost and opportunities to pitch for support and develop sustainable enterprises. Currently, the NGO is in its sixth cohort of the programme, with participation being entirely free.
The programme is structured to equip women entrepreneurs with essential skills and knowledge required to establish and expand successful businesses. Participants are guided through capacity-building training sessions, and those with innovative business ideas undergo a design-thinking process to evaluate the feasibility and viability of their concepts. The feasibility studies also aim to gauge market acceptance of their products or services.
Participants are paired with experienced mentors from sectors such as technology, fashion, agribusiness, and creative arts. They receive guidance on various aspects, including financial management, customer relations, business development, investor readiness, business planning, pitch preparation, and leveraging digital tools for business promotion.
Upon completion, participants have the chance to compete for funding through business pitching challenges. An annual pitching ceremony is held where business ideas are presented, and the top three are selected as winners. A 'CEO Special Award' is also introduced to acknowledge an exceptional innovation that may not be among the top three. Instead of cash grants, winners receive business tools and equipment tailored to their operational needs.
The NGO is also implementing a 'Women in Business Acceleration' programme, which aids women entrepreneurs post-incubation by helping them scale their businesses, access markets, and connect with potential investors. The focus at this stage is on creating market traction and expanding customer reach, while mentors and coaches guide participants through business growth strategies.
As part of the acceleration programme, the NGO funds product testing exercises, allowing entrepreneurs to introduce their offerings to potential customers and gather feedback for refinement. The NGO also facilitates formalization of businesses by aiding registration with the Office of the Registrar of Companies (ORC), the Food and Drugs Authority (FDA), and, when necessary, the Ghana Standards Authority. Many participants receive assistance to complete necessary legal and regulatory processes, particularly in food processing and agribusiness sectors requiring FDA approval.