By: Emmanuel Amoah
Stanbic Bank’s Incubator has joined forces with Boxplay and Junior Achievement (JA) Ghana to unveil the ‘Back to Basics’ program, an initiative designed to nurture entrepreneurship and foster the growth of successful businesses in Ghana, thereby enhancing the resilience of the national economy.
At the launch event in Accra, Hamza Mumuni, Manager of the Incubator, Enterprise Direct Propositions, Business, and Commercial Banking at Stanbic Bank Ghana, emphasized the program’s importance in cultivating an entrepreneurial mindset among the youth.
“Our mission is to inspire a spirit of entrepreneurship in young people. To achieve this, it is crucial to equip them with the essential skills and foundational knowledge required for success. This program targets young individuals eager to start their businesses and those already in the business sector looking to expand. We aim to motivate and instill a business mindset that will pave the way for future achievements,” he stated.
Abeiku Greene, Executive Director of JA Ghana, highlighted the significance of the partnership in equipping start-ups and entrepreneurs with the necessary skills for success. “Since 2019, we have enjoyed a strong partnership with the Incubator, and this initiative will further strengthen our collaboration. We aim to help young people acquire the skills and experiences essential for becoming successful adults and entrepreneurs. We believe that partnering with Stanbic Bank and the Incubator aligns with our shared aspiration to support start-ups and young individuals driving economic development,” he noted.
“What sets ‘Back to Basics’ apart is its informal and interactive nature, allowing participants to engage actively and ask questions, which we believe will enhance its impact. We hope to provide young people with solid foundations to build sustainable businesses,” Greene added.
The ‘Back to Basics’ initiative will feature a series of discussions aimed at aspiring young entrepreneurs and those interested in the start-up ecosystem. The program focuses on improving participants’ products, services, and business strategies to promote sustainable enterprise development. Participants will receive guidance on critical aspects of entrepreneurship, including business model development, market analysis, and growth strategies, as well as insights on building scalable start-ups and achieving product-market fit.
According to the 2023 Annual Household Income and Expenditure Survey (AHIES) conducted by the Ghana Statistical Service (GSS), 1.9 million youths aged 15 to 35 in Ghana were reported as not engaged in education, employment, or training (NEET) as of the third quarter of 2023.
