In November 2021, the university auditorium in Kumasi, Ghana, was filled with singing and dancing, resonating with the pure joy of 224 women (and one brave man) gathered for their graduation ceremony.
This was no ordinary graduation ceremony.
Most of these women had never even stepped onto a university campus before, let alone had the opportunity for a high school education.
Yet here they were.
Each one is an entrepreneur, some for many years, others just getting started. They share a common determination to provide a better future for their families.
They are resilient, courageous, hard-working, and creative. Faced with little education, few assets, limited access to financial services, and cultural resistance, they have managed to carve out a microenterprise within the informal economy.
In 2017, Opportunity International Canada launched a new program in Ghana called Financial Inclusion for Enterprise Development, known as FINEDEV.
Funded by Global Affairs Canada, the goal of FINEDEV was to grow the “missing middle” by helping microentrepreneurs expand beyond one-person enterprises into micro-SMEs (small to medium-sized enterprises), thus creating jobs for their neighbours.
We worked with Sinapi Aba Savings & Loan, a local microfinance institution partner in Ghana, investing in capacity building to build the infrastructure, capital and staff training to serve the SME sector. And we invested heavily in client training.
FINEDEV has a particular focus to help women entrepreneurs as one of the best ways to invest in the community. This includes innovative elements focused specifically on women, including an alternative collateral pilot project aimed at making it easier for women to access loan funds.
Another innovation was a women’s mentorship program, where more experienced women entrepreneurs come alongside those just starting out. The first of its kind in Western Africa, this is resourced with a practical curriculum covering a range of topics such as hiring staff, managing debt, bookkeeping and business growth.
Phase One was a year-long pilot project with 50 mentors paired with 100 mentees. It was so successful that a second phase was funded and organized, with 75 mentors paired with 150 mentees.
And that brings us to that amazing graduation ceremony. These 225 mentees and mentors gathered to celebrate the successful completion of the program.
The singing, dancing, speeches, certificates, and cake all combined to make the graduation ceremony a memorable event indeed.
But what will last are the new skills and confidence acquired by these mentees, the relationships with their mentors, and the positive impact the training will have for their families and neighbours as they grow their enterprises into the future.
Phase Three has been funded and will start soon, pairing 125 mentors with 250 mentees for a cohort of 375 – I can only imagine the energy that will be at that graduation ceremony! And plans are in place to continue this innovative and transformative project well into the future, as funding is available.
The theme of International Women’s Day 2022 is #BreakThe Bias, aimed at building a more inclusive world. The mentorship program is but one example of how Opportunity International Canada and its local partners work through financial inclusion to break the bias and give women the tools they need to build a sustainable livelihood and provide a better future for their families. Thank you for the support that makes it all possible.
Dan Murray, CEO