Ghana: Busy Internet, Stanbic Bank Launch Business Incubator

17 September 2019

Busy Internet, in collaboration with Stanbic Bank have launched the Stanbic Business Incubator (SBIncubator) space at the Silver Star Tower to provide upcoming start-ups and entrepreneurs and SMEs with the needed support to thrive into a fully-fledged business.

The SBIncubator is a third generation business incubator and initiative by Stanbic Bank Ghana to contribute towards the promotion of entrepreneurship and SMEs in Ghana.

The SBIncubator will provide structured training, business advisory and coaching, access to market and funding opportunities to start-ups and SMEs.

The SBIncubator's physical co-working gspace was completed and officially launched in partnership with BusyInternet, Oracle and other strategic partners.

Speaking at the event, the CEO of BusyInternet, Rosy Fynn stressed the importance of incubators in the development of SMEs, in line with BusyInternet's positioning as an avid supporter of small businesses and start-ups. The SBIncubator, she believes will provide the needed advice, support and direction to aid upcoming start-ups and entrepreneurs.

She recounted her personal experience of relocating to Ghana ten years ago with an MBA, lots of zeal and passion to storm the sport and entertainment industry only to find herself "joining the corporate world six months later".With some support from an incubator, she might have "launched a successful business", she said.

Ms Fynn mentioned the private sector and mostly notably start-ups and SMEs, contribute about 70 per cent to Ghana's GDP.

Only 15 per cent of start-ups however end up surviving beyond five years due to lack of funding, support and opportunities to express their ideas.

The CEO of Stanbic Bank Ghana, Mr Alhassan Andani was delighted in the prospects the SBIncubator has to offer to SMEs and entrepreneurs. Hailing the entire project as a corporate social responsibility initiative, he said the SBIncubator will be a hub for innovation to achieve excellence.

The partnership with BusyInternet, Oracle and many others he mentioned, is a step in the right direction to support many more young entrepreneurs with the needed skills and support to move on to "sustainability".

Busy's partnership with the SBIncubator is a follow-up to its partnership with Forbes8 to provide Ghanaian entrepreneurs with an online portal to keep up with trends, business tools, skills and ideas in the world of business from top-class global business leaders.

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