Mansa Nettey
Standard Chartered Bank Ghana PLC has announced the opening of applications for Cohort 4 of the Standard Chartered Women in Technology (SCWIT) Incubator Programme.
According to the bank, this initiative supports female-led and/or owned businesses, in line with the growing demand for diversity in technology and entrepreneurship. Also, it underscores the need for increased opportunities for women to develop entrepreneurial and leadership excellence, reflecting the bank’s commitment to sustainability and community engagement, with specific focus on innovation, entrepreneurship, and technology.
The programme is implemented by Ashesi University’s Ghana Climate Innovation Centre (AU-GCIC).
Through the SCWIT Incubator Programme, selected women entrepreneurs get access to a comprehensive incubation experience, featuring personalised business advisory services, mentorship, and financial grants, as well as several skills development master classes, including participating in the high value Mini MBA programme curated by AU-GCIC.
The programme cumulatively aims to equip the female led enterprises with the transformational and essential skills needed for success in the dynamic tech enabled business landscape.
Entrepreneurs selected for the initiative will benefit from immersive learning in business management and operations and access to a range of services, including legal, accounting, financial planning, and tech support, as well as valuable networking opportunities with successful peers and industry experts.
Upon completion, the participants will showcase their businesses, competing for financial grants to scale up their ventures and drive sustainable growth and impact.
The SCWIT programme is part of the broader global initiative, Futuremakers, by Standard Chartered, which is aimed at tackling gender inequality by promoting greater economic inclusion.
Since its launch in Ghana in November 2020, 54 female owned businesses across various sectors have benefited from the incubator. Fifteen of such businesses have received grants of $10,000 (Ghana Cedi equivalent) each to scale up their businesses.
This year’s programme includes an increase from five to six top finalists who will receive US$10,000 in Ghana Cedi equivalent equity-free grant each, to scale up or kick start their technology enabled businesses.
The eligibility criteria for the prospective enterprises include female ownership of not less than 50% stake or equity in the business; businesses should have been operation for at least 12 months; business should have been founded by a Ghanaian and registered and operating in Ghana; business should be developing an innovative and scalable tech-enabled or sustainability inclined product; and also the business should be able to demonstrate its technology’s sustainable impact from the social, economic, or environmental perspectives.
Mansa Nettey, CEO, Standard Chartered Bank Ghana PLC, stated “We remain committed to advancing economic and social development sustainably and equitably, our purpose revolves around propelling commerce and prosperity through our unique diversity. The SC WIT incubator is dedicated to empowering women-led start-ups, by providing indispensable resources and the support needed to propel female owned businesses to unprecedented heights.”
Ruka Sanusi, Executive Director, Ashesi University’s Ghana Climate Innovation Centre, also said, “The Standard Chartered Women in Technology business incubator is focused on breaking down gender barriers to opportunity, whilst empowering emerging female business leaders to make meaningful contributions to the world around them.”
By Samuel Boadi