The main auditorium and upper quarters of the Great Hall of Kwame Nkrumah University of Science and Technology (KNUST) were abuzz with the vibrant energy of tertiary education students from across Ghana. Their active participation marked the success of the first edition of the ‘Entrepreneur in You’ campus tour, a testament to their enthusiasm and commitment to entrepreneurship.
‘Entrepreneur in You’, an initiative of Maxwell Investments Group (MIG) under the auspices of the Africa School of Entrepreneurship (ASoE), has been a transformative force for aspiring entrepreneurs since its inception in 2017.
It has not only fostered entrepreneurship but also addressed global challenges, providing a platform for business development and serving as a beacon of inspiration for all.
The event, organised on Friday, June 14, 2024, attracted a significant number of university students nationwide, approximately 2000, from the Accra and City Campuses of the University of Ghana Business School (UGBS), the University for Business and Integrated Development Studies (UBIDS), the Kumasi and Asante-Mampong campuses of the Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development (AAMUSTED), the University of Mines & Technology (UMaT), Ghana Communications & Technology University (GCTU), and many others.
GCB Bank PLC, Ghana’s largest indigenous Bank, has demonstrated its unwavering commitment to the country’s youth and entrepreneurship. Its partnership and sponsorship of the ‘Entrepreneur in You’ initiative are a testament to this commitment.
This commendable collaboration, the result of extensive discussions between Dr Maxwell Ampong, CEO of Maxwell Investments Group, and the Bank’s Head of Corporate Banking and Head of Special Projects & Investor Relations, Mr Linus Kumi and Mr George Fuachie, respectively, reaffirms GCB Bank’s dedication to fostering a thriving entrepreneurial ecosystem in Ghana.
The three gentlemen also led an engaging and knowledge-filled session with the participants at the Great Hall, where they directly responded to dozens of real-life questions from the students. GCB Bank PLC reiterated its support for the Youth of Ghana and revealed plans to continue working with Dr Maxwell Ampong and his team at Maxwell Investments Group to create a clear path to impact student funding via incubators, accelerators, mentorship, and training.
This initiative aligns seamlessly with global social impact standards, reflecting the core values of Environmental, Social, and Governance (ESG) criteria. By empowering the youth and fostering entrepreneurship, it promotes economic growth, job creation, and innovation.
By partnering, supporting, and sponsoring the ‘Entrepreneur in You’ initiative, Ghana’s largest indigenous Bank, GCB Bank PLC, directly contributes to the United Nations Sustainable Development Goals (SDGs), particularly Goal 4 (Quality Education), Goal 8 (Decent Work and Economic Growth), and Goal 9 (Industry, Innovation, and Infrastructure).
The event also responds to the clarion call made at recent world events, such as the UN Climate Change Conference (COP26) and the World Economic Forum, which emphasised the critical need for innovative and sustainable solutions to global challenges.
By equipping the youth with the necessary skills and resources, GCB Bank PLC and Maxwell Investments Group are paving the way for a generation of entrepreneurs who are prepared to tackle these issues head-on through the ‘Entrepreneur in You’ initiative.
In essence, ‘Entrepreneur in You’ is not just a local initiative but a global movement. It is a series of interactive sessions, workshops, and networking events designed to inspire and empower entrepreneurs and studentpreneurs nationwide and worldwide. As it continues to inspire and empower, it reinforces the importance of youth engagement in achieving a more inclusive and prosperous future for all.
MESSAGE TO PARTICIPANTS FROM ORGANISERS
Dear Students and Participants,
From Maxwell Investments Group, the Africa School of Entrepreneurship, and GCB Bank PLC , we would like to thank you for participating in the recent ‘Entrepreneur In You’ Campus Tour event at the Great Hall of KNUST.
We want to share some compelling statistics with you that directly relate to your entrepreneurial journey:
– The private sector generates 92% of Ghana’s employment.
– 85% of businesses in Ghana are Micro, Small, and Medium Enterprises (MSMEs).
These figures highlight a compelling reality: the majority of Ghanaians, including you, are inherently entrepreneurial. Entrepreneurship is woven into the fabric of our society.
However, the challenge lies in scaling these businesses and ensuring their sustainability across generations. You have the potential to overcome this challenge and become a successful entrepreneur.
Let’s delve into the three crucial areas that can transform your entrepreneurial journey: a mindset change, skill set enhancement, and acquiring the right toolset.
a. Mindset Change: Cultivating a Growth-Oriented Perspective
– Embrace Innovation: Encourage creativity and the willingness to explore new ideas and solutions.
– Resilience and Adaptability: Learn to navigate setbacks and view them as opportunities for growth.
– Long-term Vision: Foster a vision that goes beyond immediate gains and looks towards sustainable success.
b. Skill Set Enhancement: Equipping for
Excellence
– Business Acumen: Understand the intricacies of business operations, finance, and marketing.
– Leadership and Management: Develop strong leadership skills to inspire and manage teams effectively.
– Technical Expertise: Stay updated with the latest technological advancements relevant to your industry.
c. Toolset Acquisition: Leveraging
Resources for Growth
– Financial Tools: Access funding, investment opportunities, and financial management tools.
– Digital Tools: Utilise digital marketing, e-commerce platforms, and business management software.
– Networking Resources: Build connections with mentors, industry leaders, and fellow entrepreneurs for support and collaboration.
As future business leaders, it’s crucial to recognise the pivotal role of banking and finance in empowering your entrepreneurial journey.
1. Financial Literacy: Financial literacy is the cornerstone of any successful entrepreneur. Understanding budgeting, saving, investing, and managing credit is crucial. Banks offer workshops, seminars, and online tools to help you build this essential knowledge.
– “Financial literacy is the roadmap to your entrepreneurial success.”
2. Access to Capital: One of the biggest challenges entrepreneurs face is securing capital. Banks provide various products, such as business loans, lines of credit, and credit cards, to help fund ventures. Crafting a compelling business plan and understanding loan requirements will boost your chances of obtaining the necessary funding.
– “With the right financial support, your business dreams can take flight.”
3. Building Creditworthiness: A strong credit score with financial institutions is vital for entrepreneurs. It influences your borrowing ability, interest rates, and business credibility. Manage your personal and business finances responsibly, pay bills on time, and keep debt levels low.
– “A solid credit score is the backbone of business credibility.”
4. Leveraging Banking Relationships: Cultivate strong relationships with your bank and its representatives. Many banks offer advisory services, providing valuable insights into financial management and growth strategies.
These relationships can be crucial allies in your entrepreneurial journey.
– “A strong banking partnership is as valuable as a great idea.”
5. Utilising Digital Banking Tools: Embrace digital banking for efficient financial management. Online platforms and mobile apps offer tools to track expenses, make payments, and manage your finances in real time.
– “Digital tools are the modern entrepreneur’s best friend.”
6. Risk Management: Understanding and managing risk is crucial. Banks offer insurance products and risk management services to protect your business from unforeseen events. Discuss these options with your bank to safeguard your business.
– “Risk management is the safety net for your entrepreneurial leap.”
7. Networking and Mentorship: Banks often run programs to support entrepreneurs, including networking events and mentorship programs. These provide opportunities to connect with other entrepreneurs, potential investors, and experienced mentors.
– “Business success is often about who you know and who knows you.”
8. Continuous Learning: Entrepreneurship is a journey of continuous learning. Stay informed about the latest banking and financial trends and seek educational opportunities. Expand your knowledge to position you for long-term success.
– “Continuous learning is the fuel for entrepreneurial innovation.”
In conclusion, the entrepreneurial spirit thrives on passion, innovation, and resilience. By leveraging the knowledge and tools provided at this event and with the support of banking resources, you can build a solid foundation for your business, navigate financial challenges, and achieve your entrepreneurial dreams. Remember, every successful entrepreneur starts with a dream and takes proactive steps to realise it.
The event you just attended and this initiative, the ‘Entrepreneur In You’, are crucial steps in this journey.
Entrepreneurship is the art of turning vision into reality with strategic financial partnerships. It is the art of turning passion into progress, and with the right financial tools, every dream can become a reality. Embrace financial literacy, leverage banking resources, and let innovation guide your journey.
Thank you for your active participation in the event. We appreciate your eagerness to learn and your commitment to your entrepreneurial endeavours. We wish you all the best in your journey.
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