Seyi Ebenezer (2nd L) with other Payaza Regional Group Executives
Payaza, a fintech organisation which specialises in international payments and financial solution, has held a day’s event for Small and Medium Enterprises (SMEs) in Accra to help them thrive in their respective sectors.
The event, ‘SME Thrive,’ provided the platform for attendees to gain valuable connections and professional advice from experts on how to grow their businesses.
SMEs make up 70% of Ghana’s Gross Domestic Product (GDP) but face a lot of challenges, such as access to finance, inadequate technological tools, and the right clientele to scale their businesses across Africa, hence the initiative.
The group CEO of Payaza, Seyi Ebenezer, gave a rundown of the vision the payment solution has for Ghana, where the payment gap between consumers and businesses is bridged, giving clients an array of options outside of the conventional payment methods such as bank transfers.
“We’re essentially here to support SME businesses and empower them through payment, exposing to the world at large,” he explained as a part of their vision.
Aside from being a payment platform, Payaza creates webpages for entrepreneurs for free, where their wares can be showcased and, they don’t have to worry about their accounts being shut down or taken away.
“Somebody selling on Instagram, if it shuts down your account, you won’t have access to such platform to sell again. What we’re coming here to bridge is that, we create a website for you, you’re able to release all your products over there, we plug in the payment gateway for you so that you’ll be able to have access. So same way you’re selling on Instagram, you can sell on the web as well,” he explained.
A speaker at the event, Ifeoluwa Dixon, advised businesses not to take the solo route, but to partner with others.
“We’ve moved from the era of doing life alone, to doing life with a multiple of people, a collaboration, partnership. That is what Payaza has brought to us today. To partner with them so that your visibility will be beyond Ghana,” she disclosed.
She also advised businesses to partner with brands that are seasoned in their field, since they give valuable advice based on personal experiences.
An SME elevator pitch competition was also held for five SMEs, with the winner taking a cash prize of GH¢45,000 and the runners up winning GH¢30,000 and GH¢15,000 respectively.
By Vera Owusu Sarpong