P2P Business Academy Officially Launched
SNV Netherlands Development Organization in partnership with Fidelity Bank Ghana Ltd is implementing the “Catalyzing WASH: From Possible to Profitable (P2P)” project; a project funded by The Embassy of The Kingdom of Netherlands (EKN). The project aims at increasing access to water, sanitation and hygiene (WASH) services at the household level by scaling up access to finance and capacity development of services offered by Micro, Small and Medium Enterprises (MSMEs) in the country.
In a bid to materialize this objective, a capacity building component of the project dubbed P2P Business Academy, tailored to equip MSMEs operating in the WASH sector with technical and administrative expertise was launched by SNV and Fidelity on 3rd November 2016 in Kumasi. The launch attracted key participants from Government, financial institutions and the WASH sector. Key among them were the Ashanti Regional Minister, Officials of EKN, Kumasi Metropolitan Assembly (KMA), Fidelity Bank, Partner NGOs, Microfinance Institutions, artisans and individuals who have benefitted from the project.
It is expected that 500 MSMEs throughout the country will receive training in business management and coaching from a selected network of business development service providers and consultants recruited nationwide.
Mrs. Agatha Quayson, the P2P project Manager, indicated in her welcome address that, a €4 million revolving fund has been set up by the project to provides credit facilities at reduced interest rates to both households and WASH Businesses. These funds are accessible through a wide network of Bank and Non-bank financial institutions. She also highlighted that a total of 3.6 million Ghana Cedis has already been disbursed to 250 households and 88 WASH enterprises nationwide to finance projects in the areas of hygiene services, liquid and solid waste management, water provision and household latrine construction.
The key note Speaker at the Official launch of the P2P Business Academy, the Ashanti Regional Minister Mr. John Alexander Ackon, lauded SNV and its partnership with the Fidelity Bank for the immense work done and highlighted the need for concerted effort to improve sanitation conditions and water delivery services.
He added that government would continue to partner the private sector to develop and implement initiatives that would help to make things better to prevent diseases caused by poor sanitation.