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13.04.2019 Feature Article

Young Ghanaian Entrepreneurs: Seek Finnish Business Partners From The Finnpartnerships Online Platform

Young Ghanaian Entrepreneurs: Seek Finnish  Business Partners From The Finnpartnerships Online Platform

It is vital that young Ghanaian entrepreneurs think creatively, when it comes to the issue of funding their ventures. Sometimes, they must look to developed nations, such as Finland - which create opportunities for their young entrepreneurs, to partner entrepreneurs from the developing world, in profitable business ventures.

A May 17, 2018 Business & Financial Times story, about Ghana's coconut sector, entitled: 'We are missing out on US$4billion coconut industry', mentioned the names of a number of young Ghanaian entrepreneurs, who own businesses in the coconut industry's value chain:

"However, there are many small businesses producing many products from coconuts – such as oil, soap, toffees and biscuits, carpets, mats, and even renewable energy.

One of the players is Rudis Essentials, a startup that uses coconut to produce cosmetics. The company’s CEO, Rubaba Sule-Braimah, told B&FT that the major constraint that has stifled growth of using coconut to produce cosmetics in the country is inadequate finance.

Adowarim Lugu-Zuri – CEO Wazuri, also a startup that uses coconut husks to produce mats – said her biggest challenge is the mindset of Ghanaians about locally produced products.

She said many after realising that her products are produced locally begin to doubt their quality, even though they may have expressed interest initially when they were not told they are locally made.

Amin Sulley Abubakar, CEO Zaacoal – another startup using coconut husks to produce renewable energy – stated that difficulty in accessing cheap credit to finance his business has also prevented him from expanding, even though there is high demand for his products. He believes that Ghana is missing out on the enormous potential that this fruit holds.

The various players in the industry are calling on government to give them attention and address some of the problems they are confronted with, if the economy is to make the best gains from the coconut industry as some others are doing."

Finally, one hopes that the business ventures of all those young entrepreneurs, mentioned in the Business & Financial Times story above, are doing well, as we speak. If, on the other hand, they still need funding, then this blog's humble advice to them (and to all other young Ghanaian entrepreneurs in the same situation), is to seek Finnish business partners from the Finnpartnerships online platform. We wish them well.

Kofi Thompson
Kofi Thompson, © 2019

This author has authored 297 publications on Modern Ghana.
Author column: KofiThompson

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