Two hundred and eighty entrepreneurs and small and medium scale enterprises have been enrolled to benefit from the annual women business mentorship program by indigenous financial institutions, Sinapi Aba Savings and Loans.

The beneficiaries will be mentored in modern business strategies and best business practices meant to enhance their operations.

Started in 2020, it was meant to train and economically empower women especially in the informal sector to better their businesses but the third mentorship programme accepted eight male entrepreneurs.

Beneficiaries were selected from the operational areas of the financial institution to form the third cohort under the bank’s initiative to expand businesses.

CEO of the bank, Tony Fosu, said financial institutions owe their respective operational areas the responsibility of contributing to boosting businesses in the country.

He said the growth of SMEs will reverberate into the economy; creating a lasting avenue for business to grow, hence the need to assist them grow.

Mr Fosu said this at the launch of the third edition of the mentorship programme, dubbed “Mentoring the next generation of great women”, held in Kumasi.

The mentorship is expected to last for six months with experienced business women getting training on emerging businesses and on how to expand and growth their ventures.

Coordinator for this year’s programme, Marian Gyamfi believes pairing mentors and mentee will help with easy transfer of knowledge.

She said the impact of the training is felt when there is a direct engagement; creating capacity building and networking among participants.

The first cohort under the mentorship programme trained 150 women, while the second trained 225.

Philippa Appiah, a participant in the previous cohort is now a mentor. She shared her experience on how she can now train other emerging business owners.

Sinapi Aba Savings and Loans hopes to sustain the nationwide mentorship programme to ensure growth in the informal sector.