Michael Kottoh, the Managing Partner of Konfidants, a research and advisory firm, has underscored the critical role of partnerships in fostering the growth of medium enterprises and fortifying entrepreneurs in Ghana.
Konfidants is an international advisory firm with a diversified portfolio. It assists companies, governments, and international organisations in achieving impactful outcomes across Africa and other global regions. The firm’s expertise spans research and analytics; strategy and advisory; implementation and project management; evaluation and audits, as well as the establishment and management of multi-country partnerships and platforms.
Kottoh highlighted that fostering collaboration among entrepreneurs could significantly boost the growth potential of medium enterprises.
At the Citi Business Festival SME Development Roundtable, themed “Positioning Our SMEs For Resilient Growth,” Kottoh pointed out that the lack of partnerships was a primary reason for the limited number of medium enterprises in the country.
He also emphasised the challenges of insufficient capital and the need for specific skill sets.
Kottoh stated, “…As a people I think we generally like to operate in small small silos. It is a mindset issue…There’s a need for partnerships as a pathway to scaling the medium enterprises. Cost of capital is very high…It is also very difficult to get long term capital…Quality skills, quality management.”
“…In spite of all these challenges, if entrepreneurs decide to partner and join forces they are stronger and that is where for me I will pin it.”
The Citi Business Festival 2024 is powered by 97.3 Citi FM and Channel One TV in partnership with Absa Bank and is sponsored by MTN Business, GIRSAL, AMG Fertilizer, Nsano Ltd and Agri-Impact Limited.
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