AngloGold Ashanti, Absa Bank, and MasterCard Foundation Launch Business Exposure Tour in Accra as part of the Business Acceleration and Sustainability Project (BAST).AngloGold Ashanti (Ghana) Limited-Obuasi Mine (AngloGold Ashanti) signed a Memorandum of Understanding (MoU) with Absa Bank Ghana Limited on September 14, 2023, marking a major milestone in the pursuit of four key projects targeted at supporting economic growth in Obuasi.The MoU is supported by four projects: the Business Acceleration and Sustainability Project, the Women in E-commerce Project, the Business Supply Chain Development Project, and the Artisans to Entrepreneurs Project.The pioneering effort, a cooperation between AngloGold Ashanti, Absa Bank, and the MasterCard Foundation, focuses on the growth and sustainability of Obuasi’s small and medium-sized companies (SMEs).
The formal launch of the industry/business exposure tour under the Business Acceleration and Sustainability Project (BAST) at the Accra City Hotel on Monday, December 4, 2023, is a critical component of this program.
The BAST Project, which was developed in collaboration with the Obuasi Municipal and Obuasi East District Assemblies, is consistent with the AngloGold Ashanti Obuasi Mine’s 10-Year Socio-Economic Development Plan (SEDP) (2022-2031).
The major purpose of BAST is to improve the long-term viability of enterprises in Obuasi by teaching entrepreneurial skills that provide access to funding and markets, hence boosting job development.The initial batch of 25 of the 50 selected firms attended the two-day first business exposure trip.
The event began with a welcome meal, which provided an opportunity for SME owners to network. Mr. Godwin Adordie, CEO of Praise Export, and Emmanuel Sarfo Frimpong, CEO of Frimps Poly Ltd, both notable business gurus, shared their unique experiences and provided guidance and advise during an engaging Q&A session.Emmanuel Baidoo, Senior Manager, Community Relations – Africa, stated in his presentation that ” “this partnership reflects our collective aspiration of embarking on a transformative journey that will have far-reaching positive impacts on the business landscape in Obuasi.”” He advised the SME leaders in attendance to take advantage of the exposure tour’s perks and chances.A noteworthy aspect of the tour included visits to renowned industries such as Niche Cocoa and Tropical Cable in Tema. These visits provided participants with an immersive experience, offering insights into business processes and potential opportunities within these thriving sectors.The commitment of AngloGold Ashanti, Absa Bank, and the MasterCard Foundation to the development of the SME sector in Obuasi is evident through this ambitious partnership.Recognized as “the most amazing and awesome initiative” by organizers of the Sustainability and Social Investment Awards, this collaboration underscores the partners’ dedication to empowering local businesses and fostering long-term economic growth.
