Tullow invests GH¢1.5m in 10 Ghanaian agribusinesses
Tullow Ghana has made a substantial investment of GH¢1.5 million in 10 promising agribusinesses across the country.
The investment is part of the Tullow AgriVentures Programme (TAP) initiative designed to empower small and medium-scale enterprises within Ghana’s agricultural value chain.
The TAP initiative, which has Innohub Foundation as its implementing partner, is a multi-year project aimed at enhancing employment opportunities, providing essential training for startups, and promoting sustainable growth within the agribusiness sector.
Through the programme, Tullow ultimately aims to launch 600 new agribusinesses and support 30 existing ventures to expand, and thereby create 1,500 direct and 4,500 indirect jobs.
At a recent competitive Pitch Event held in Accra, 14 shortlisted agribusinesses presented their innovative projects to a panel of industry experts.
From this group, 10 companies – Tropical Snacks, Vicca Juice, Fafas Breakfast, Entofarms, H.A Farms, Madolf Ventures, Wami Agro, Vokia Farms, Defarmacist Group Limited, and Minana Services were selected, each receiving GH¢150,000 to expand their operations in Ghana and the sub-region.
Additionally, they will also get market access and business development support.
The panel of experts evaluated the agribusinesses based on scalability, impact, and sustainability.
Ms Cynthia Lumor, Deputy Managing Director of Tullow Ghana, emphasisedTullow’s commitment to nurturing young entrepreneurs within the agribusiness sector.
“Tullow has always believed in the potential of young entrepreneurs in the agribusiness sector to make a significant difference in Ghana’s economic growth. Today, we are happy to be supporting these young businesses, as part of a deliberate effort to build a better future through responsible oil and gas development,” she said.
Nelson Madiba Amo, Executive Director of Innohub Foundation, praised the partnership with Tullow Ghana and highlighted the anticipated impact on the winners:
“As the implementing partner for this programme, we have witnessed the incredible potential and dedication of these 14 finalists. We are committed to this programme and the pitch event was an exciting opportunity for all to highlight their hard work and innovative agribusinesses. We look forward to seeing them shine as the first cohort of the Tullow AgriVentures Programme,” he said.
The various groups with their cheques
Ms Edusei (right) briefing the Absa Bank Ghana officials about the operations of Eden Tree
STORIES: KINGSLEY ASARE
