In response to the economic impact of COVID-19 on businesses, the Women’s Empowerment and Investment Group (WEIG) in partnership with Annan Capital Partners and GUBA, launched the COVID-19 Stimulus Fund last year to support and invest in female-led enterprises in Ghana.
The first of its kind, the initiative aims to provide funding and business support to the finalists. The beneficiaries of the fund will be presented with their stimulus packages at a virtual ceremony on Friday, 12th February, 2021 in partnership with Ecobank Ghana Limited and Ozé.
Launched in June 2020 by three serial entrepreneurs, Adeline Akufo-Addo Kufour, Roberta Annan and Dentaa Amoateng, the fund is in response to the need for more private sector partnership in boosting SME growth by providing funding, infrastructure and skills training opportunities.
The initiative attracted thousands of applicants from female entrepreneurs across the country within the agriculture, fashion, e-commerce, health industries. After a thorough review and audit process, 70 candidates were shortlisted after which the final 10 winners were announced in December 2020. The winners were selected based on certain criteria including: business viability, length of operations, business revenue, industry, social impact and economic value.
The winners include: Henrietta Boateng- Be My Honey Company Ltd – which specializes in agribusiness, Selasi Dzikunu – Delse Enterprise Ltd, (skincare and beauty brand), Selina Beebako-Mensah – Selina Beb (fashion), Mariam Twumasi – Herconcessions (Events), Jennifer Asare – Boateng – Alexander Rowe Properties Ltd (Real Estate), Dr. Juliette Tuakli – Child Accra Ltd (Healthcare & Public Health) and Maame Adjei Barwuah – Sweetroots Media (Media).
Others are Duodu Pentila Patricia – Patbaf Company Ltd, a Waste Management company, Clara Pinkrahsam – Clatural Wear Ltd (Fashion) and Serwaa Emmanuella Gyawu, Ecocent Recycling Ltd, dealers in Plastic Recycling.
Speaking on the need for the COVID-19 Stimulus Fund, CEO of the Women’s Empowerment and Investment Group (WEIG), Adeline Akufo-Addo Kufour explained that the fund was set up to inject capital into female-led enterprises who have been adversely impacted by the COVID-19 pandemic. Roberta Annan, Founder and Managing Partner of Annan Capital Partners (ACP) underscored the importance of private sector partnership in providing relevant solutions and infrastructure to address the unprecedented challenges SMEs are facing as a result of the pandemic. The Founder of GUBA, Dentaa Amoateng also reiterated the need to help these female entrepreneurs rebuild and scale up their businesses.