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Thirteen local businesses in the Ahafo Region have received a financial boost of GH¢1,850,000 to expand and sustain operations to drive the region's economic transformation.
The funding, provided by the Newmont Ahafo Development Foundation (NADeF), is aimed at stimulating economic growth within the Newmont Ahafo Mine host communities.
The beneficiaries, made up of nine females and four males, received between GH¢50,000 and GH¢300,000, depending on the scale and needs of their operations.
Presenting the cheque at Ntoroso in the Ahafo Region, the Board Chairman of DADeF, Professor Yaw Ofosu Kusi, said the foundation had supported small and medium enterprises with over GH¢9.7 million since its inception in 2008.
He explained that the investments went into agriculture, manufacturing, services and trade under the NADeF’s Economic Empowerment module to create jobs and enhance local entrepreneurship.
Prof. Kusi said NADeF had remained steadfast in its mandate to translate Newmont’s corporate social responsibility vision into tangible and lasting development outcomes.
"Our journey has been guided by a deep commitment to inclusivity, equity and empowerment, particularly for the communities that host Newmont's operations," he said.
Prof. Kusi said the initiatives had touched lives in areas such as social amenities and infrastructure development, cultural heritage, environmental management, sports, youth development and economic empowerment.
He explained that the investments injected into the local businesses were expected to help them scale up their operations, enhance their productivity and increase their impact in the area.
Prof. Kusi said the 13 businesses underwent rigorous screening and evaluation by the Sustainable Development Committee (SDC) of Kenyasi No.2 and the NADeF Secretariat.
"They have shown resilience, innovation and potential for growth.
We are confident that this funding will propel them to the next level.
"This support comes with responsibility.
We expect sound financial management, strategic investment and timely repayment from all beneficiaries," he said.
Prof. Kusi said NADeF would provide technical support and business development services, monitor them to ensure the initiative yielded the intended impact and urge them to use the opportunity wisely.
He expressed the NADeF’s commitment to building strong, self-reliant communities that lead their development through partnerships, innovation, entrepreneurship and collective action.
The Adontenhene of the Ntotroso Traditional Council, Osabarima Kwadwo Dankwa Siakwan II, advised the beneficiaries to be serious with their businesses.
He urged them to work hard to improve their businesses to sustain NADeF's interest in supporting them and other businesses.
Some beneficiaries who spoke to the Daily Graphic said the offer was a great opportunity to expand their businesses.
A beneficiary, Benjamin Boampong, who is into electrical and home appliances sales, said the initiative would help to improve their businesses and development in their communities.
He said the support would also help them to employ other people and thanked the foundation for the gesture.
