Mentorship critical to survival and growth of MSMEs – Sinapi Aba Trust

Structural business mentorship plays a vital role in the survival and growth of Micro, Small, and Medium Enterprises (MSMEs), particularly for young women entrepreneurs, according to the Sinapi Aba Trust. These businesses often struggle due to limited managerial skills, weak financial systems, and the inability to thrive in a competitive environment.

Through their mentorship program, the trust aims to address these challenges by providing practical skills, guidance, and professional networks essential for managing business risks, responding to market challenges, and positioning businesses for sustainable growth. At the graduation ceremony of the sixth cohort, Dr. Mrs. Patricia Acheampong, Deputy Director of the Council for Scientific and Industrial Research (CSIR), emphasized that mentorship extends beyond classroom training, as it establishes trusted relationships that help entrepreneurs identify and address challenges.

Effective mentorship can also prepare entrepreneurs for accessing finance, as investors and financial institutions are more likely to support business owners who demonstrate the necessary skills and systems. Over 2,000 entrepreneurs have benefited from the program, which pairs experienced mentors with mentees and combines classroom learning with practical sessions covering topics like fraud management, recruitment, customer service, financial management, and more.

This year, the sixth cohort consisted of 300 entrepreneurs, with a notable development being the involvement of previous cohort beneficiaries as mentors, creating a sustainable support network among entrepreneurs. Program Manager Phyllis Desbordes highlighted that this approach has yielded greater results compared to previous cohorts.