I come from a family of strong entrepreneurial women. My grandmother was a cloth trader. My mother was the first woman to set up a vocational school in northern Ghana.
Shea butter is something I grew up with. Ghanaian women have used it for generations, they would produce it when the farming season was over. It comes from a fruit that only grows in a certain region. You crack the nut to get a kernel, which is processed to make shea butter.
I started out going house to house, knocking on people’s doors, saying I have this beautiful, made-in-Ghana product, would you like to try it?
We work with shea butter produced by 600 women in the north of Ghana. We work through the night to produce soap flakes, some of which are used to produce black soap, while for others, we add in oils, herbs and scents to create high-quality organic skincare products.
Access to finance has been key to our growth
I started off with grandiose ideas, but when you don’t have cash of your own, or an existing market or factory, it’s difficult. I remember going to ask for money at a bank. Somebody there knew me from school – she was like, oh, Francesca’s husband is rich, she doesn’t need money. I didn’t understand what my husband had to do with it – I was there for my business, and my husband wasn’t that rich anyway. If a man went to the bank, they would never say he doesn’t need money because he has a rich wife.
I built up my financial education over the years. I learned the importance of keeping good records – banks will trust you if they can see the documentation. I learned that if you’re having business troubles, don’t hide under the table – talk to your financial institution.
Today, I can take better financial decisions. I know what kind of finance is good for us. I learned that you can obtain loans with better terms from the government, or from NGOs or international organizations.
Most of our production equipment has been financed by loans and grants. We also got approved to receive Mastercard Foundation funds, a two-year loan through Fidelity Bank, which helps us to buy shea butter when it’s in season. I’ve been very careful with the use of money. Whenever we’ve taken out a loan, we’ve never missed a payment.
By having access to good sources of finance, we can create economies of scale in terms of the purchase of our raw materials. We can plan the year ahead. We are not worrying about how to pay water or electric bills. Employees know that at the end of the month, they’ll get their salary.
Financing has also allowed us to expand. When you hire the right people and train them well, it pays for itself. Today we have 25 employees, covering management, production, logistics, sales and merchandising. In Ghana, you can find us in supermarkets and malls everywhere. We are selling in West Africa, Eastern and Southern Africa, and exporting to the US and Australia – it’s like we are taking Africa to the world.
The power of women entrepreneurs
When women businesses do well, the family thrives. An empowered woman will empower others. Here, we take good care of the people we work with. We nurture them – I have young people who come here to work part-time, to be able to further their education.
Today, I see a lot of smart, strong, hardworking young girls in business, taking advantage of AI and technology. Women were too dainty in my day, whereas these girls are on fire. But women still tend to apply for smaller amounts of financing, and leave the big amounts for the men. It’s time that women up our game, and try to go for the big loaf. If we invest in these women, it will change our entire economy.
My dreams for the future
I’m now at a place where I can get most of the things I want. Having your own money gives you freedom.
I got here through a lot of hustle and hard work. I’m over 60 now, with two grown-up kids and a granddaughter. I’m a grandma, but I’m still able to grind away, because I have a good team. This is something we do with joy and with pride, and we really love the direction we’re going in.
I want to leave a legacy. We’ve acquired land to build a new factory which will transform our women cooperatives’ working conditions. Currently, they are using traditional methods to produce black soap, which generates a lot of grime and smoke. We want to give them very good conditions, which is why we’ve acquired a site in Goma, Mayenda. These women will still be able to do their communal processing, but in a better environment, with eco cookers, so they don’t have smoke going into their nose and ears. It will be a very clean environment, surrounded by trees.
I would love to see Beauty Secrets become a multi-million dollar company, internationally competitive. That would be a dream come true. Then I can retire, and let the next generation take over the business.
By Francesca Brenda Opuko
CEO and Founder, Solution Oasis Limited
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