Stanbic Bank Launches Aspire Business Academy To Support Youth Entrepreneurs
Stanbic Bank Ghana, in collaboration with Innohub, has launched the Stanbic-Innohub Aspire Business Academy to support and promote student entrepreneurs. The Stanbic-Innohub Aspire Business Academy is part of Stanbic Bank’s interventions aimed at harnessing and developing the entrepreneurial capacities of the youth in Ghana.
Speaking at the virtual launch, Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, said the initiative stems from the bank’s purpose of driving the growth of the country and the belief that the youth are key to ending poverty in the continent. He noted that “At Stanbic Bank, we believe strongly that including the youth early in issues of financial literacy and conscientizing them about the importance of financial independence and the best practices around personal finance management are key to shaping their thinking about finances. Our gathering here today to officially launch the Stanbic-Innohub Aspire Business Academy, reiterates why we exist as a bank, driven by our purpose; Ghana is our Home, we drive her growth. Driving growth requires us to invest in the future of our youth.”
“Hence, in August 2018, we launched one of our most significant Corporate Social Initiatives - the Stanbic Bank (SB) Incubator - to provide business advisory, coaching and mentorship, and market access facilitation and networking opportunities to aspiring entrepreneurs and startups in Ghana. This year, Stanbic Bank has also established our Youth Banking division to address the financial inclusion gaps amongst the youth. As clichéd as this may sound, the youth and the opportunities available to them hold the key to escaping poverty on the continent. What they need to learn, which in a large part is the responsibility of banks, is how to achieve financial independence,” he added.
The Chief Executive Officer of Innohub, Nelson Amo, expressed gratitude to Stanbic Bank for the support and underscored the importance of collaborating to develop the capacities of the youth. According to him, “In any system, there are three pillars that are foundational to that success of that system. These are institutions of learning, corporate institutions and entrepreneurial enablers ecosystem. As this important triangle expands, it gives more room to students who sit in the middle of this interaction to develop themselves and thrive. It is therefore critical that these three pillars collaborate in order to help the youth find their feet especially in fast moving world. It is for this reason that we are grateful to Stanbic bank for this partnership.”
Other partners at the launch included the University of Mines and Technology (UMAT), Academic City University, BlueCrest University College, University of Professional University Accra (UPSA), and Garden City University College. Over the years, Stanbic Bank has initiated and supported interventions targeted at the youth. In 2018, the bank introduced the SBIncubator Ghana, which has supported over 7,288 entrepreneurs through 455 curated workshops, pitch sessions and networking events. With a special focus on women, the banks has directed and supported 1,639 through flagship initiatives like the Stanbic-Vodafone Women in Entrepreneurship Masterclass designed by the China Europe International Business School (CEIBS), STEM For Girls, an annual coding training program for girls between the ages of 18-27.
To further entrench its position as a bank for tomorrow’s leaders, the bank launched the Stanbic Business Incubator co-working space in 2019. The space offers world class boardroom, hot-desks, virtual business address services and a 100-seater capacity auditorium for events. This space provides a conducive and enabling environment for young startups to hatch their business without the burden of renting an office and meeting spaces for client meetings.
The Stanbic-Innohub Aspire Business Academy is yet another of such interventions aimed at supporting and promoting student entrepreneurs. It is is a 12-week masterclass designed for idea stage student entrepreneurs to test the viability of their ideas, build strong business structures, and target the right customers to ensure their businesses survive beyond campus. The goal of the project is to work closely with academic institutions to provide an enabling environment to magnify and encourage students in entrepreneurship and innovation.