Business

Absa Bank, AngloGold Ashanti partner to grow SMEs

Absa Bank Ghana and An­gloGold Ashanti, Obuasi Mine, have partnered to support Small and Medium-sized Enterprises (SMEs) in Obuasi and its environs as part of efforts of the latter towards the transforma­tion of the local economy where it operates.

To this end, the two organisa­tions have signed a Memorandum of Understanding (MoU) to mark the partnership.

The two will be collaborating to undertake four projects to assist SMEs within the Obuasi Mine’s operational area to improve their business capability and create non-direct mining jobs in Obuasi, with the goal of diversifying and sustaining the local economy.

The four projects are Business Acceleration and Sustainability, Women in e-Commerce, Business Supply Chain Development, and the Artisans to Entrepreneurs Project.

A statement issued by Absa Bank in Accra on Friday said the partnership would provide MSMEs with skills training and resources to drive accelerated busi­ness growth, access to finance and markets, knowledge of the digital economy, and an upskill of techni­cal and vocational artisan skills.

“By nurturing them through targeted mentorship, funding op­portunities and access to industry experts, both organizstions are committed to creating an enabling and thriving entrepreneurial envi­ronment for MSMEs in Obuasi,” it said.

“We are delighted to collaborate with Absa Bank Ghana to jointly implement the four projects we co-designed. AngloGold Ashanti Ghana views this as a strategic partnership that will allow us to create a supportive environment for entrepreneurs, “Mr Emmanuel Baidoo, Senior Manager – Sus­tainability of AngloGold Ashanti, Obuasi Mine, said.

“These initiatives we will be embarking on together seek to diversify and explore new market opportunities for local business­es, support SMEs with access to finance, as well as establish strong relationships between the Obuasi Mine and local businesses,” Mr Baidoo added.

Mrs Audrey Abakah, Director of SME, Agency Banking and Partnerships of Absa Bank Ghana, said, “We are extremely excited to partner with AngloGold Ashan­ti Ghana Ltd, Obuasi Mine, on this journey to transform lives in Obuasi and its environs. With the shared goal of positively impacting the lives of stakeholder communi­ties, we are happy to build syner­gies to deliver the needed impetus to help bring economic transfor­mation to these communities.”

“We have been at the forefront of supporting SMEs to scale up to meet the challenges of the times and transform them into the businesses of the future. This partnership provides an avenue for us to help these SMEs realise their full potential and we are happy to collaborate,” she said.

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