AngloGold Ashanti (Ghana) Limited-Obuasi Mine (AngloGold Ashanti) on September 14, 2023, signed a Memorandum of Understanding (MoU) with Absa Bank Ghana Limited marking a significant step in the pursuit of four key projects aimed at fostering business growth in Obuasi.

The four projects underlying the MoU include; Business Acceleration and Sustainability Project, Women in e-commerce project, Business Supply Chain Development Project and Artisans to Entrepreneurs project.

The groundbreaking initiative, a collaboration between AngloGold Ashanti, Absa Bank, and the MasterCard Foundation, focuses on the growth and sustainability of small and medium-sized enterprises (SMEs) in Obuasi.

An essential component of this initiative is the official opening of the industry/business exposure tour within the Business Acceleration and Sustainability Project (BAST) at the Accra City Hotel on Monday, 4th December 2023.

The BAST Project, formulated in consultation with the Obuasi Municipal and Obuasi East District Assemblies, aligns with AngloGold Ashanti Obuasi Mine’s 10-Year Socio-Economic Development Plan (SEDP) (2022-2031). The primary goal of BAST is to enhance the sustainability of businesses in Obuasi by providing entrepreneurial skills that increase access to finance and markets, ultimately fostering job creation.

The two-day inaugural business exposure tour welcomed the first cohort of 25 out of the selected 50 businesses. The event commenced with a welcome dinner, offering SME owners a platform to network. Notable business experts, Mr. Godwin Adordie, CEO of Praise Export, and Emmanuel Sarfo Frimpong, CEO of Frimps Poly Ltd, shared their invaluable experiences, providing guidance and advice through an interactive Q&A session.

In his address, Emmanuel Baidoo, Senior Manager, Community Relations – Africa, highlighted that “this partnership reflects our collective aspiration of embarking on a transformative journey that will have far-reaching positive impacts on the business landscape in Obuasi.” He urged the SME leaders present to maximize the benefits of the exposure tour and seize the opportunities it presents.

A noteworthy aspect of the tour included visits to renowned industries such as Niche Cocoa and Tropical Cable in Tema. These visits provided participants with an immersive experience, offering insights into business processes and potential opportunities within these thriving sectors.

The commitment of AngloGold Ashanti, Absa Bank, and the MasterCard Foundation to the development of the SME sector in Obuasi is evident through this ambitious partnership.

Recognized as “the most amazing and awesome initiative” by organizers of the Sustainability and Social Investment Awards, this collaboration underscores the partners’ dedication to empowering local businesses and fostering long-term economic growth.