Company wins US investment prize
Wanjo Foods, an indigenous food company
based in Accra has been announced the winner of a $25,000 investment
prize at a pitch competition hosted by an American based
organization, Case Foundation.
Wanjo Foods processes indigenous crops into
food products including juices, jams and syrups and employs hundreds
of Ghanaians while Case Foundation invests in people and ideas that
could change the world.
The outcome of the competition was disclosed
to journalists on Tuesday during a tour to some enterprises by a
member of the US Presidential Ambassador for Global Entrepreneurship
and co-founder of Case Foundation, Mr. Steve Case.
Mr. Case’s tour covered SMSGH Solutions
Limited, an indigenous IT company and a local fashion design
company, Dignity DTRT, where he interacted with the heads of the
The event dubbed: “Pitch for Accra,” brought
together nine companies representing Ghanaian burgeoning
entrepreneurial sector across a number of industries including
fashion, agriculture, manufacturing and financial services.
“By leveraging its unique cultural assets,
Accra is rising as a promising entrepreneurial ecosystem in West
Africa and another proof point that Africa is open for business,”
Mr. Case said.
“Wanjo Foods is a testament to the
increasing democratization of entrepreneurship and the idea that
promising young companies can be found anywhere,” he added.
Mrs. Salma Salifu, Managing Director of
Dignity DTRT, and Mr. Alex Adjei Bram, Chief Executive Officer,
SMSGH Solutions Limited in an interaction with Mr. Case’s team
highlighted some problems facing entrepreneurs in the country.
Among other things, they noted that lack of
access to capital, market volatility, uncertainty in the power
sector, particularly frequent power cuts, and unstructured local
policies, largely impede entrepreneurial growth in the country.
Mr. Bram said Ghanaian entrepreneurs require
smart capital that goes with learning, training, mentoring as well
as monitoring and evaluation to properly build knowledge and skills
of local entrepreneurs to withstand the global competitive market.
He also called for a policy direction
towards promoting intra-Africa trade to chart a new course for the
African large, but unexploited, market.