‘Supporting youth, SMEs are central to economic dev’t’ as 15 entrepreneurs receive GHs2.34m grant at 2022 GrEEn Innovation Challenge Awards
The Project Manager of the GrEEN Innovation Challenge at SNV Ghana, Laouali Sadda believes the youth are a driving force for required socio-economic development and supporting the growth of emerging entrepreneurs, will be the objective of the project.
The GrEEN project is aimed at supporting green businesses who have innovative products and services in SNV’s three sectors; agriculture, renewable energy and energy efficiency and Water, Sanitation and Hygiene (WASH) in the Ashanti and Western regions of Ghana.
SNV, under its Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) Project, launched the GrEEn Innovation Challenge in June 2021 to award matching grants to selected businesses in Ghana’s green sector located in the Ashanti or Western regions of Ghana, where the GrEEn project is being implemented.
The GrEEN project is a four year initiative and in its third year about to end, Mr. Sadda told journalists on the side of the GrEEn Innovation Challenge Awards last Friday that, “We are ending the third year, so we have one remaining year to consolidate and see how we can work on sustainability for both youth that has been selected and supporting also the smes.”
Timothy Dolan, Team Leader Macroeconomics and Trade Section, Delegation of the European Union to Ghana said the European Union confirms its commitment to supporting green businesses and entrepreneurs. “At COP27, we pushed for increased efforts at the global level that tackle the climate and biodiversity crises occurring across the world and affecting, especially developing, countries. support for Ghanaian green businesses is a major focus for the EU.”
The GrEEn Project, with its GrEEn Innovation Challenge, is one of the many projects the EU is using to support climate adaptability and create growth of local businesses, Mr. Dolan noted.
Multi-sector committees, made up of public and private sector institutions in the Ashanti and Western regions evaluate applicants and recommend green businesses to be awarded the matching grants.
In December 2021, the maiden GrEEn Innovation Challenge was held, and 12 green businesses were awarded a matching grant of one million, one hundred and seventy thousand cedis (GHS 1,170,000.00). They included 6 businesses in the Ashanti region, 5 in the Western region and 1 in the Greater Accra region who established an outlet in the Western region.
In August 2022, SNV Ghana, along with the European Union launched the 2022 GrEEn Innovation Challenge for only green businesses enrolled in the GrEEn Incubation and Acceleration Programmes, a 6-month free business advisory support training provided to green businesses and entrepreneurs in the two regions of the project.
Out of over 70 applications received, 32 (17 from Western Region, 15 from Ashanti Region) were shortlisted to go through a two-day pitch event from 27th and 28th October 2022 in Accra where a panel, including representatives from the European Union Delegation to Ghana, Fidelity Bank, Kosmos Innovation Centre, Ghana Enterprises Agency, Holland Greentech, and the United Nations Capital Development Fund (UNCDF) and SNV Ghana, analysed their application and interviewed them on their green products and services.
EU gives matching grant of over GHS 2.34m
Following the pitch event, a due diligence exercise was conducted and 15 businesses who meet the requirements of the GrEEn Innovation Challenge were selected to be awarded the matching grant at the 2022 GrEEn Innovation Challenge Award ceremony held at the African Regent Hotel on Thursday, 24th November 2022.
They include 7 businesses in the Ashanti region, and 8 from the Western region. The grants to be awarded are as follows: Charlotte Adu-Ansah of Chabed Enterprise with an amount of 7,000 euros, equivalent of GHc90,020, Emelia Anderson [Emmy’s Shop Afrik] received 10,000euros equivalent of GHc128,600, Vida Aniagyei [Aniwasu Garments] who received 10,000euros equivalent of GHc128,600, Elizabeth Bayo [Nasag Lach] received 10,000euros equivalent of GHc128,600 , Prince Adjei [Moreplex Company Ltd] received 10,000 euros equivalent of GHc128,600.
Others are Richard Arthur from Brofoshelle Ventures who received 10,000euros representing GHc128,600, Gideon Nyamesen [AgriCentric Ventures] 10,000euros equivalent of GHc128,600, Kofi Ackon [Uvuko Company Ltd] received 10,000 euros equivalent of 128,600 euros, David Nkansah [Davnak Ventures]] 10,000 euros equivalent of GHc128,600, Amadu Sulemana from Kozobiz Biogas Technology also received 10,000euros equivalent of GHc128,600, Georgina Odoom [Ginadoom Waste Management Services ] received 15,000 euros equivalent of GHc192,900, Matilda Stem [Asaasepa Naturals] received 15,000euros equivalent of GHc192,900, Millicent Lambog [Eggs and More] received 15,000euros equivalent of GHc192,900, Laminu Issaka [Romilla Farms] received 15,000 euros equivaelent of GHc192,900 and Emmanuella Appiah of Green Ecoworks received 25,000euros representing GHc321,500.
All the grant monies amounted to EUR 182,000 equivalent of GHC 2,340,520.
GrEEn is a flagship for the EU in Ghana, and works hand-in-hand with its partners UNCDF and SNV in project implementation.
