AngloGold Ashanti, Absa Bank sign MoU to improve SME sector in Obuasi

AngloGold Ashanti Ghana Limited and Absa Bank Ghana Limited have officially signed a Memorandum of Understanding (MoU) in Obuasi to partner on transformative initiatives that aim at positively impacting the small and medium enterprises (SME) sector in Obuasi.

The MoU will see both organisations collaboratively undertaking four projects that have been jointly designed to assist businesses within the Obuasi mine operational area to improve their business capability, create non-direct mining jobs in Obuasi, with the goal to diversify and sustain the local economy.

The four projects, according to Mr. Emmanuel Baidoo, Senior Manager Sustainability AngloGold Ashanti Obuasi mine, are the Business Acceleration and Sustainability Project, Women in e-Commerce Project, Business Supply Chain Development Project and the Artisans to Entrepreneurs Project.

Dignitaries that attended the function in a group picture.

Through these projects, Mr. Baidoo said, AngloGold Ashanti Ghana Limited and Absa Bank Ghana Limited would provide small and medium sized enterprises (SMEs) with the necessary resources and support to accelerate the growth of their businesses, including access to finance and markets, knowledge of the digital economy, and an upskill of technical and vocational artisan skills.

“We are delighted to collaborate with Absa Bank Ghana Limited to jointly implement the four projects we co-designed. AngloGold views this as a strategic partnership that will allow us to a supportive environment for entrepreneurs,” Mr. Baidoo added.

Mrs. Audrey Abaka, Director SME Agency Banking and Partnerships of Absa Bank Ghana Ltd noted: “We are extremely excited to partner AngloGold Ashanti Obuasi mine on this journey to transform lives in Obuasi and its environs. With a shared goal of positively impacting the lives of our clients and stakeholder communities, we deliver the needed impetus to help bring economic transformation to these communities.”

Mr. Andrew Dwomo Osei, PRO and Acting Secretary Local Contractors Association, Obuasi, on his part noted that inadequate funding opportunities have plagued many companies and sole proprietorship in Obuasi as a burden of lofty interest rates has suffocated businesses and hindered their growth.

The Dompoasehene, Okofo Kwabena Bonsu I, who chaired the function, expressed his appreciation for the partnership between AngloGold Ashanti and Absa Bank, and called on businessmen and women in Adansi to take advantage of the MoU to improve their businesses.

From Frederick Danso Abeam, Obuasi


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