The Executive Director for Social Enterprise Ghana has called on financial institutions to develop specific funds tailored to support startups, especially social enterprises.
Edwin Zu-Cudjoe charged the financial institutions to give priority to social enterprises working to support the country to achieve its Sustainable Development Goals (SDGs)
“Social enterprises present a viable vehicle for patient capital to address Ghana’s social challenges and promote the attainment of the SDG Goals in a mutually beneficial manner”
“These investments, I believe will make social businesses thrive, bring shared values to financial institution and society as a whole,” he told Joy Business.
Mr Zu-Cudjoe was speaking at the two-day 2019 Accra SDGs Investment Fair at the Kempinski Hotel in Accra on Wednesday.
The theme for the 2019 Accra Investment Fair is Sustainable Development Financing: Building mutually beneficial partnerships, was chosen because the Ministry of Finance recognizes the importance of collaboration between private and public actors in economic development.
Social enterprises are organisations that use business strategies to solve social challenges for impact, good environment and profit.
Social Enterprise Ghana is the network of social enterprises and entrepreneurs.
The event had 24 social entrepreneurs working to promote the achievement of the SDG Goals of no poverty, zero hunger, good health and well being, etc. exhibiting their products and services.
It was organised by the Finance Ministry in partnership with the Ghana Investment Promotion Centre (GIPC) and Social Enterprise Ghana.
On his part, the Finance Minister, Ken Ofori-Atta, in his welcome address noted that the increasing SDGs financing gap is estimated at $2.5-3 trillion per year globally.
Mr Ofori Attah also highlighted the need for countries to work together to make the achievement of the SDGs possible.
Some of the social enterprises who participated included 21st Century, Alchemy Alternative, Anspoken, Attarah Gh, Bean Masters,
Brighter Investment, Ctyling Eco-Plastic, Dhorcey Black, Dignified Wear, GetBusy Gh, Ghana Code Club and Green Gold.
Others are Kente Masters, LeadAfrique, Mydda Foods, Oko Forest, SocialFarm, Slydem, Talents in Africa, Waste or Create, Whesoyy,
Wonelcycler, Zaacoal and Zlitch.