Empowering Entrepreneurs Through Innovation and Legacy Planning
MTN Ghana, through its SME Accelerate platform, recently organized a webinar focused on helping entrepreneurs strengthen and sustain family-owned businesses. The event emphasized the importance of innovation, sound governance, and legacy planning in ensuring long-term success.
Held in Accra, the session took place under the theme “Building Legacies That Last.” It brought together successful business owners, next-generation leaders, and industry experts to discuss strategies for adapting, growing, and thriving in an evolving business environment.
The webinar was hosted by Korkui Selormey and featured two prominent Ghanaian family businesses: FC Beauty Group and Rose Aluminium Company Ltd. Founders and their successors shared insights on managing growth, transitions, and leadership dynamics.
Transitioning Leadership with Trust and Intention
One of the central topics was the process of transitioning leadership from the founding generation to the next. Dr. Mrs. Grace Amey-Obeng of FC Beauty Group and Madam Vivian Serwaa Adu of Rose Aluminium highlighted the need for intentional succession rooted in trust.
Madam Serwaa Adu shared her experience of seamlessly transitioning leadership to her son, Mr. Barima Yaw A. Osei-Bonsu. She emphasized the importance of letting go while still alive to ensure the business continues to thrive. “If you are not ready to let go, what happens to that business if you fall?” she asked. “It’s better that you start now, when you are alive, and see that business you’ve adored move on to a better stage.”
Dr. Amey-Obeng also spoke about strategic alignment, guiding her three children into roles that matched their talents and educational backgrounds. This approach created distinct yet collaborative business units under the FC Beauty Group.
Insights from Next-Generation Leaders
Next-generation leaders shared their personal experiences of stepping into leadership roles. Mr. Osei-Bonsu initially disliked the factory environment but developed interest after gaining manufacturing experience abroad. He introduced key innovations such as an ERP system for integrated sales and inventory management and established new distribution depots, which significantly boosted sales.
Mrs. Barbara Shika Obeng-Kamara of FC Beauty Group emphasized the importance of humility and continuous learning for young entrepreneurs. “Go humble; be like a sponge to soak so much. Then you can mix your ideas with what you’ve learned from them,” she advised. She infused science and innovation into the company by restructuring product formulations and leveraging digital tools for real-time customer feedback.
Overcoming Challenges in Business Growth
The discussion also touched on broader issues affecting business growth in Ghana, particularly for women leaders. Both founders reflected on their journeys in male-dominated sectors such as manufacturing and finance, encouraging women to overcome internal fears, strengthen governance, and pursue available funding opportunities.
The panelists agreed that longevity in business depends on strong core values. For Rose Aluminium, these values include consistency, integrity, and faith—what Madam Serwaa Adu described as the ever-present “God factor.”
Lessons from Leadership Missteps
Mr. Osei-Bonsu shared a reflective moment about a leadership misstep. Coming from the UK, he initially tried to bring Western management styles to Ghana, which proved ineffective. “It wasn’t appreciated,” he admitted, noting that maintaining professional distance is sometimes necessary to preserve business harmony.
The session concluded with encouragement for business owners to embrace failure as a teacher and to cultivate patience and perseverance as key ingredients for building lasting legacies.
MTN Ghana’s Commitment to Supporting SMEs
MTN Ghana used the platform to reaffirm its commitment to supporting SMEs with practical digital tools and resources. The company showcased solutions such as MTN Business Eye, a smart surveillance system accessible via *5060#, offering 24/7 monitoring and real-time alerts for enhanced business security.
Additionally, MTN highlighted the MTN Ajumapa Bundle, designed specifically for women entrepreneurs. The package, available through *5060#, offers competitive data and voice bundles, free on-net calls on Mondays, and business insurance coverage of up to GHS 8,250.
Through the SME Accelerate initiative, MTN Ghana continues to empower small and medium enterprises with digital solutions and capacity-building platforms that enable them to remain competitive and resilient in a fast-changing economy.