Absa Bank's Young Africa Works Project, in partnership with the Mastercard Foundation, has positively impacted 5,700 SMEs across Ghana, including smallholder farmers.

Since its inception in 2020, the program has facilitated the investment of over GH¢1.1 billion into these enterprises, creating significant opportunities for growth and employment.

During a recent tour of funded project sites in the Accra area, beneficiaries shared how the initiative has transformed their businesses.

They urged the government to increase investment in the agricultural sector, stressing its potential to employ the country’s unemployed youth.

They believe that with sufficient investment, agriculture could become an appealing career path for young graduates, offering an alternative to traditional white-collar jobs.

The program has already created jobs for 2,400 young people in the agricultural sector, demonstrating its effectiveness in addressing unemployment.

Audrey Abakah, Absa’s Head of SME, Agency Banking, and Partnership, highlighted the project's role in job creation and entrepreneurial support, especially in underserved sectors.

"We launched this initiative in 2020 to help businesses, particularly SMEs, recover and scale their operations after the financial challenges brought on by the COVID-19 pandemic," she explained.

Abakah expressed satisfaction with how businesses have utilised the funding to expand their operations and create job opportunities for young people.

One such beneficiary is Eden Tree Limited, a producer and distributor of fresh fruits, vegetables, and herbs. Managing Director Catherine Krobo Edusei shared that the financial support from Absa came at a critical time when her company was struggling financially.

"With Absa's support, we can now pay our suppliers on time, ensure timely staff salaries, and increase our workforce due to our expanded capacity to handle more produce," she said.

Eden Tree accessed GHS 1.1 million, enabling the company to produce two tonnes of vegetables daily.

At G Billy Farms in Nsawam, the workforce has grown from 17 to 70 permanent employees, with an additional 100 casual workers.

The farm, which is the largest supplier of fresh pineapples to Blue Skies Company Ltd, plans to expand its 80-acre farmland to 100 acres by the end of the year.

General Manager Eric Danquah credited the Absa AYAW partnership with helping them scale their production and offer better salaries to employees.

"Our success has attracted other smallholder farmers and university graduates who come to learn from us. We are grateful to Absa and the Mastercard Foundation for their support," he said.

Danquah also encouraged Absa Bank to extend its 10% loan facility to more entrepreneurs to help them scale up and create more jobs.

Praise Exports Services Limited, an agro-processing export company in Pokuase, has also benefited from the program.

CEO Godwin Edem Adordie reported that the company has increased its exports from 200 metric tonnes to 300 metric tonnes after receiving support from Absa Bank.

The financial aid allowed Praise Exports to invest in new machinery and quality control systems, ensuring their products meet international standards for export.

Overall, the Absa Young Africa Works Project continues to drive significant economic growth and job creation in Ghana, empowering SMEs to thrive in challenging times.