Kosmos Innovation Center, Mastercard Foundation launch initiative to promote agric, MSMEs

The Kosmos Innovation Center (KIC) in partnership with the Mastercard Foundation has launched the KIC Business Booster – an acceleration programme aimed at scaling Micro, Small, and Medium Enterprises (Agri-MSMEs) in the agriculture sector in Ghana.

The KIC Business Booster accelerates the growth of Agri-MSMEs by improving their investor readiness and connecting them to potential funding.

Agri-MSMEs that take part in the programme are provided with customised capacity building training and business development support services such as mentorship and coaching, market linkages, and network opportunities.

The programme will enable Agri-MSMEs to improve their business operations, mitigate financial constraints, and appropriately prepare them to engage with potential investors.

Over the next four years, the KIC Business Booster programme will scale up 900 Agri-MSMEs in Ghana’s agriculture value chains.
The Accelerator, which forms part of KIC’s partnership with Kosmos Energy and the Mastercard Foundation’s Young Africa Works strategy in Ghana, will be implemented in a phased approach.

In the first year, the program with Agri-MSMEs will be based in Greater Accra, Ashanti, Central, Northern, and Upper West Regions of Ghana.

Calls for applications will be open starting now until 27th May 2022. Interested Agri-MSMEs in the listed regions can apply directly on KIC’s website: www.kicghana.org.

To commemorate the launch of the Accelerator programme, KIC organised a learning event for young people and operators. The learning event brought together several experts who discussed the challenges faced by Agri-MSMEs and proposed various solutions to solving these challenges.

Speaking at the launch, the Executive Director of KIC, Benjamin Gyan-Kesse, said: “The Booster programme aligns with KIC’s goal of supporting Agri-MSMEs to scale up, provide food security, and build globally competitive brands backed by innovation and technology. We want to support Agri-MSMEs to grow and impact society in terms of providing food and creating jobs.”

In addition to the Business Booster programme, KIC has led bold initiatives within Ghana’s agriculture sector and supported young entrepreneurs driving innovative business models within the sector.

More than 100,000 farmers have been impacted by Agri-Tech and agribusinesses supported by the KIC programme.

The Board Chairman of KIC, Senior Vice President and Head of the Ghana Business Unit at Kosmos Energy, Joe Mensah said, “The KIC Business Booster programme is another pillar of KIC’s work that has a lot of potential to transform the agriculture sector when provided with the necessary support.”

For him, “Offering support to Agri-MSMEs means a lot to the KIC program and just as we have made significant impact with the other program elements, the Business Booster program will also yield high impact.”

Ghana Country Head at the Mastercard Foundation, Rosy Fynn, noted that “The launch of the KIC Business Booster program is aligned to our country strategy of investing in the agriculture and agriculture-adjacent sectors to unlock work opportunities for young Ghanaian women and men, and to push for system level changes, that will position Ghana as a technological hub with agriculture innovations that are suited to the African context.”

Earlier this year, the Mastercard Foundation and KIC announced the launch of a multi-year partnership to train the next generation of young leaders and entrepreneurs in Ghana’s agriculture sector.

Source: https://www.graphic.com.gh/business/business-news/kosmos-innovation-center-mastercard-foundation-launch-initiative-to-promote-agric-msmes.html