Young Africa Works MSME
Target Impact
- Build the capacity of 5,000 SMEs to ensure continuity of operations, and through this initiative create 50,000 decent and sustainable jobs for Ghanaian youth.
- Introduce unique and innovative lending solutions to 5,000 SMEs.
- 20 fintech startups will be supported with financing to drive financial inclusion.
Status: Active
Country
Ghana
Period
2020-2025
Industries
Access to Finance
Digital Economy
Commitment
$55 Million USD
Impact to Date
3,688
total of 3,688 businesses have received capacity building and training, with about 6,536 young people in dignified and fulfilling work
$15.48M
From inception to date, Absa Bank Ghana has disbursed uncollateralized loans worth $15.48M to 1,292 MSMEs and smallholder farmers
Partnership Focus
Ensure that women-led MSMEs have access to finance.
Deepen financial inclusion and uncollateralized lending to MSMEs in the agriculture sector.
Capacity-building support for fintechs.
In Partnership With
Absa Bank Ghana is a commercial bank in Ghana, licensed by the Bank of Ghana, the country’s central bank and national banking regulator. In the year 2020, Absa Bank Ghana Limited and the Mastercard Foundation partnered to provide much-needed financial support to youth and women-led businesses operating in Fintech and agribusinesses, and smallholder farmers with partial or no collateral, to bridge the existing gap in assessing funding in line with the existing framework of the bank. Young businesses and startups with innovative business models will be enabled to scale their business.