The young business owners entered ONE BY ONE, ready to make an impact before the panel assembled by Absa and the Mastercard Foundation.
These entrepreneurs, primarily from Ghana's fintech and agritech industries, were given 15-minute presentation slots to prepare the best pitches of their careers.
The conference space on the third level of the Absa MasterCard Foundation headquarters at Ridge in Accra was dominated by the presentation's digital screen.
The PowerPoint slides were queued and prepared to play as the projector's lights flickered.
This is where the pitch for the Fintech-Agritech Support Program by the ABSA-Mastercard Foundation took place a few weeks ago.
Over the last three years, Absa Bank and the Mastercard Foundation have maintained strong cooperation to make a difference in important economic sectors in Ghana, such as SME, Fintech, Agritech, and other related industries.
The program, sponsored by the Absa Mastercard Foundation collaboration, aims to assist young businesses that are developing and producing new items to boost Ghana's economy.
The project offers a one-of-a-kind chance for entrepreneurs looking for funding to argue their claims before five feisty business and corporate executives.
Businesses in the Fintech and Agritech sectors can use the program's GH2.5 million funding to increase their capacity and make them long-term viable.
Also, firms leveraging technology to enhance financial services including loans, payments, insurance, investments, and education are among the businesses that the GH2.5 million funding is aimed at (financial literacy).
Businesses must be older than three years old, technologically advanced, and have proprietors between the ages of 24 and 40 to qualify.
The pitching session was a fascinating show. It represented the general energy and eye-opening changes taking place in Ghana's vibrant startup scene.
The presenters were interrogated and required to fully defend assertions on their products' end-to-end potency, efficiency, budget, and compliance with Bank of Ghana regulatory sandpit requirements.
"We have a great belief in the ability of young Ghanaian companies, such as MSMEs and tech startups, to promote sustainable economic growth. We are thrilled to have a willing partner in the Mastercard Foundation because we believe that supporting and providing the sort of funding suitable for small firms is a significant social commitment "According to Audrey Abakah, head of SME banking at Absa.
This program is driven by the promise of digital technology and innovation to enhance lives and foster an enabling environment.
During the pitching session, innovative concepts including automating manual labor, digitalizing agriculture, and leveraging robotics to increase productivity and multitasking were all sold. Additional examples included organic fertilizer spraying using drone technology and precision agriculture.
In Ghana, the Absa/Mastercard Fintech-Agritech program has completely changed the landscape. It is evident that technology can be an effective tool for change and should be used to promote young empowerment and sustain economic prosperity.
These young entrepreneurs hold the key to the future of Ghana's economy, thus it is important to assist and inspire them as they soar.
"We consider our cooperation with Absa Bank to be highly fruitful and significant. As a charity to effect change throughout sub-Saharan Africa, it perfectly fits our ethos, according to Rosy Fynn, the Mastercard Foundation's country director.
The Absa/Mastercard Foundation Fintech-Agritech Assistance program is an industry-leading project that is setting the way for young entrepreneurs in a world where innovation and technology are fueling growth and development.
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