Ashesi University’s Ghana Climate Innovation Centre (GCIC) has inducted 22 entrepreneurs into its 7th Cohort Business Incubator for training and sustainable development.
GCIC trains and secures funds for Small and Medium Enterprises adopting climate-smart models in their operations.
The entrepreneurs in this 7th cohort are made up of 50% female-owned businesses and 40% male-owned businesses with 38% located in Greater Accra, 27% in the Ashanti Region, 15% in the Western Region, whilst the Eastern, Central, Volta, and Northern Regions make up 20%.
The businesses are in five key sectors; 42% are climate-smart agriculture businesses, 27% are waste management, 15% are energy efficiency organizations, and the rest are in the greening and solar energy sectors.
At the induction program, the Executive Director of GCIC, Ruka Sanusi stated that her outfit between June 2017 and 2020 had supported entrepreneurs to generate substantial revenue and create new jobs.
“Our Centre’s robust business incubation program has generated US$2.06 million and created 733 new jobs, raised additional early and growth-stage financing of more than USD2 million.”
She added that GCIC in 2021 had “sequestered CO2 emissions of 14,500MT and helped to avoid emissions of 70,684.47MT, which is about six times over the five-year target of 10,000MT”.
The GCIC’s Partnership, Entrepreneurship, and Investment Director, Dramani Bukari, added that the entrepreneurs would go through the GCIC’s Technical and Product Development workshop and stated its benefits.
“The GCIC works to improve technologies and products, whilst stimulating climate risk mitigation and improving management practices. We have also invested funds to ensure our cohorts grow climate-resilient businesses.”
He went on to say, “Our grants are available after application and involve the submission of evidence of the efficient and effective utilization of the awarded funds.”
