Ghana

Founded in 1999, OpenLab is a higher education institution offering online and in-class degree and certification courses in new technologies and digital skills. With a mission to combat youth unemployment by providing digital skills, OpenLabs has opened institutions in 5 locations in Ghana: Accra, Kumasi, Takoradi, Tamale, and Tema. By entering into strategic partnerships with renowned technology companies such as IBM, Google for Education, and Huawei, OpenLabs offers its students advanced training in line with the realities of the job market. With over 100,000 students trained, OpenLabs is fully involved in the growth of African tech.
 

THE ENTREPRENEUR

A proven entrepreneur, Dev Varyani began his career in the 1990s with a paper production company in Nigeria. Later, he diversified into health and agriculture. Then, wanting to offer quality education focused on innovation, impact, and employability, he founded the Eureka Africa Group. The group has four higher education institutions covering a variety of fields:

• Blue Crest University, which offers courses in communications, business, and fashion
• Academics City, which trains students in engineering, technology, and entrepreneurship
• Open Labs, a collection of training centers focusing on new technologies and digital technologies
• School Of Fashion And Design, a school specializing in African fashion and design

PARTNERSHIP WITH I&P

Through its I&P Education and Employment program, I&P is committed to working alongside OpenLabs to:

⇒  Confirm its position as a reference institution by accelerating its digitalization, notably through the acquisition of IT equipment,

⇒  Implement policies and practices to protect learners on campus.

EXPECTED IMPACTS

⇒  To increase the accessibility of young people, women and vulnerable populations to quality training through the scholarship programme

⇒  Strengthen the employability of youth through education adapted to the needs of the local labour market.

A COMPANY SUPPORTED BY THE PARTNERSHIP BETWEEN I&P AND MASTERCARD FOUNDATION

Since February 2021, I&P has partnered with Mastercard Foundation through its I&P Education to Employment initiative, a blended finance program aimed at improving access to relevant and quality education on the African continent.

The partnership between I&P Education to Employment and Mastercard Foundation specifically aims to support 30 education entrepreneurs in 3 target countries (Ivory Coast, Ghana, Senegal) over 3 years. The partner companies receive funding and technical assistance to support them in their digital transformation, resilience, and growth strategy as well as in the implementation of social inclusion and employability measurement mechanisms.

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https://openlabs.edu.gh/

I&P Education to Employment program

Codetrain is a coding bootcamp school designed to provide aspiring software developers with the technical skills that will allow them to have a career in the software development industry. The founder, Richard Brandt, first thought about setting up a coding school when he had trouble finding interns with hands-on experience.

«I selected a group of students from various universities and a few high school graduates, and started teaching them how to code. The results were amazing, and one remarkable thing was that their friends kept asking if they could also join the training. That is when I knew that I was doing something that had high impact potential » - Richard Brandt (link)

The school offers two curricula: full stack web development and mobile app development. The program focuses on practical teaching and interactive learning. Codetrain opened its doors in 2017, in the cities of Accra and Kumasi and has since trained 500 students and has a 90% job placement rate.

A graduate in mathematics from Kwame Nkrumah University in Ghana, Richard Brandt began his career as a data analyst. His passion for entrepreneurship caught up with him so he spent two years training at the Meltwater Entrepreneurial School of Technology (MEST). He was taught practical skills in software development and business creation. His first excursion into the entrepreneurial world was for merchants looking to improve their conversion rates. Then, his passion led him to Chile, where he joined an incubator, and then to Germany. In 2017, willing to give the youth the tools to join the digital revolution and impact their communities, he founded Codetrain.

PARTNERSHIP WITH I&P

Through its I&P Education and Employment program, I&P has committed to Codetrain to:

⇒ Support the digitalization strategy through the development of an e-learning platform and the improvement of the video content offer,

⇒ Support the implementation of a scholarship program, especially for young women, and ensure sustainable funding,

⇒ Strengthen the employability rate of students and graduates by recruiting a professional in charge of relations with international and local companies to assist them in their search for internships and jobs.

EXPECTED IMPACTS 

⇒ Expand the accessibility of the training offer across Ghana through the creation of an e-learning platform.

⇒ Enable youth, women and vulnerable populations to access appropriate training through a more flexible scholarship system and payment terms. 60% of the scholarships would be reserved for women.

A COMPANY SUPPORTED BY THE PARTNERSHIP BETWEEN I&P AND MASTERCARD FOUNDATION

Since February 2021, I&P has partnered with Mastercard Foundation through its I&P Education to Employment initiative, a blended finance program aimed at improving access to relevant and quality education on the African continent.

The partnership between I&P Education to Employment and Mastercard Foundation specifically aims to support 30 education entrepreneurs in 3 target countries (Ivory Coast, Ghana, Senegal) over 3 years. The partner companies receive funding and technical assistance to support them in their digital transformation, resilience, and growth strategy as well as in the implementation of social inclusion and employability measurement mechanisms.

Read more 

https://codetraingh.com

I&P Education to Employment program

Zeepay is the fastest growing Ghanaian-owned fin-tech, promoting financial inclusion in Ghana. Zeepay focuses on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, Bank Accounts and Digital tokens to International Money Transfer Operators, Payments, Subscriptions, International Airtime and Refugee payments.

Zeepay has experienced exponential growth since its launch in 2016 and currently terminates over 130,000 transactions on a monthly basis

In March 2020, Zeepay became the first Ghanaian-owned company to be issued an Electronic Money Issuer (EMI) licence by the Bank of Ghana. This license enables Zeepay to offer the full spectrum of mobile financial services in Ghana.

The entrepreneur

Andrew Takyi-Appiah is the Managing Director of Zeepay. Andrew is an expert in banking and mobile payments, having accumulated over 15 years of experience in banking and business development, from working in 3 continents: Europe, North America and Africa. His African experience spans across Nigeria, Kenya, Uganda, Rwanda, Ghana, Burundi, Zambia, Malawi and South Africa. Prior to founding Zeepay, Andrew previously worked at PwC (UK), PwC (Ghana), Barclays UK, UT Bank, Ecobank, GT Bank, Nestle and the Commonwealth Secretariat.

Partnership with I&P 

The partnership between Zeepay and I&P (through its fund I&P Afrique Entrepreneurs 2) aims to:

⇒ Help Zeepay meet regulatory capital requirements of the license

⇒ Support the company on talent acquisition, technology development and customer acquisition

Expected Impacts

⇒ Deepen financial inclusion, especially to underserved sections of the population

⇒ Catalyze economic development by promoting access to faster, safer and cheaper ways to access international remittances

⇒ Create decent jobs across the continent in the technology sector

XpressGas Limited is the fastest-growing and one of the largest LPG (Liquefied Petroleum Gas) companies in Ghana.

The company was incorporated in 2009 and was granted a license by the National Petroleum Authority in 2010 to operate as an LPG Marketing Company. XpressGas currently owns 3 LPG refill stations, 23 LPG Bulk Road Vehicles (BRV-Trucks), and serves a network of 53 third-party owned stations across all the regions of Ghana.

The main focus of the business is on the peri-urban and rural areas of the country, and this is in line with the Government of Ghana’s stated objective to increase access to LPG by 50% in 2030.

Liquefied Petroleum Gas (LPG) is increasingly becoming the preferred choice of fuel in the world and Ghana is moving in the same direction. The increase in patronage could be attributed to its affordability, efficiency and environmental friendliness. The impact potential of switching consumers from harmful traditional fuels such as firewood to LPG is significant.

The entrepreneur

The company is managed by a strong promoter who has built a well-structured business that has advanced up the ranks of the top LPG companies in Ghana within the span of just 8 years.

Mr. Kofi Nketsia-Tabiri brings over 18 years of investing, business development and entrepreneurship experience to the management of XpressGas. Prior to starting XpressGas, Mr Nketsia-Tabiri founded Patient Capital Partners, an energy project development and investment advisory firm that has undertaken several modern energy related projects for international organizations such as the World Bank, Triodos, African Development Bank, United Nations Environmental Programme, etc.

Kofi was the inaugural head of the business innovations unit in Africa at E+Co, the pioneering organization that funded over 250 clean energy investments in emerging markets before its restructuring in 2012. In 2017, Kofi was recruited as an Investment Consultant for the Africa Renewable Energy Scale Up Facility (ARESUF), under the auspices of Micro-Energy International and PROPARCO.

Partnership with IPAE 2

With support from I&P, XpressGas aims to:

•— Consolidate and cement its position in the B2B market

•— Accelerate the launch of the B2C cylinder recirculation model (CRM)

•— Improve health and safety standards

Expected Impacts

⇒— A company at the forefront in increasing LPG availability and access to consumers especially those in the rural areas who continue to suffer from Household Air Pollution (HAP)

Context: It is estimated that about 18% of households in Ghana use LPG as their primary source of cooking. The remaining 72% of households mostly depend on firewood and charcoal for cooking. Exposure to household air pollution is responsible for 16,600 deaths and the loss of 502,000 disability adjusted life-years annually.

⇒— LPG emits lower greenhouse gas emissions than alternatives, CO2 emissions are relatively low. Greenhouse gases are reduced by 5-16 times per prepared meal compared to coal.

⇒— Creation of over 300 direct and indirect jobs over the investment period with specialized training provided to staff

⇒— Contribution towards the development and structuring of the cylinder recirculation model in Ghana to create a safer environment for LPG distribution

New Crystal Health Services (NCHS) is Ghana’s leading private health care group dedicated to the urban poor. From its modest beginnings in a four-bedroom facility in 2003, New Crystal now serves an average of 300,000 customers per year through a chain of six networked clinics, a diagnostic services company and a pharmaceutical wholesale and retail company. NCHS provides general consulting services in health care, surgery, optics, dental care and other diversified health services.

THE ENTREPRENEUR

Dr. Wisdom Amegbletor is a medical doctor and an entrepreneur. After completing University of Ghana Medical School in 1999, he completed his mandatory housemanship and then decided to work at Greenshield Clinic in Sefwi-Wiawso, a rural town in the Western region of Ghana. During his Greenshield experience, the founder of the clinic entrusted Dr. Wisdom with overall management responsibility, which helped him to later birth the idea of New Crystal in 2003. He holds an MBA from the University of Ghana Business School in Entrepreneurial Management. Dr. Wisdom has been the primary driver of New Crystal’s growth to date.

Watch an interview with the promoter, Dr. Wisdom Amegbletor

PARTNERSHIP WITH I&P

I&P’s investment in New Crystal aims to:

• Upgrade the infrastructure of the New Crystal network of clinics to enable the continued provision of affordable, more quality health care to underserved communities

• Strenghten governance practices and organizational structure to support the sustainability of the business

EXPECTED IMPACT

• Access to affordable and quality health care

• Provision of free health care to all the staff of the clinics

• Financing of certifications and regular training of the staff

• Improved waste management methods

• Possibility of supplying solar energy to clinics

PEG Africa is a young company which aims to bring off-grid solar energy access to rural and peri-urban communities in West Africa by providing pay-as-you-go (PAYG) solar home systems to rural and remote customers. The company has started its activities in Ghana.

The model of the company is based on the combination of technical, distribution, and financial innovations:

• Technical innovation: the product itself is a small solar kit allowing the client to light a few bulbs, recharge a phone, and listen to the radio. It is connected with the PEG management information system through mobile technology allowing the company to monitor remotely a number of items.  
• Distribution: the company is setting distribution points with dedicated sales teams around the country.
• Financial innovation: this is probably the most important innovation. The client is paying its solar system as he uses it through mobile money payment of a few Euros per month. If he doesn’t pay and recharge credit, the system is blocked and not usable by the client. After one year of payments, the client owns the product.

PEG has secured a licensing partnership with M-KOPA, the leading company in PAYG solar technology in Africa. M-KOPA has successfully deployed its products and methodology to more than 200,000 households in East Africa.

The entrepreneurs

Hugh Whalan, the CEO, has focused on energy and financing in West Africa for the last 6 years. He started the first crowd-funding site for energy, and a fast growing solar distribution company in Ghana, which he sold to a NY-based investor. Prior to his work in Africa, he was the director of business development for the largest US based carbon project developer.

Nate Heller, the Chief Operating Officer, has over 13 years of experience in international development, including stints with the UN, the Peace Corps, and multiple social enterprises. He spent 6 of those years building innovative distribution channels for poor consumers in West Africa.

Partnership with I&P

I&P committed alongside PEG to:

• Finance and support the company’s expansion drive in Ghana and the sub-region

• Help structure the business in its early stages and institute appropriate corporate governance

• Facilitate debt and grant capital fundraising for the company to meet its target objectives

Expected Impact

• Connect over 500,000 remote and rural households in West Africa to solar power within 5 years

• Create significant financial inclusion by making off-grid households into a knowable and attractive customer proposition

• Reduce carbon emissions by replacing traditional kerosene use with a cleaner source of power

• Grow local employment by partnering with large local sales teams to drive growth over multiple regions

For over 15 years, Eden Tree Limited has been the leading independent provider of fresh fruits, vegetables and herbs in Ghana.

The company buys fresh produce, cleans, packs and distributes it to retail, wholesale, and catering clients. Eden Tree currently supplies a variety of over 80 vegetables and fruits from over 375 outgrower farming families. 

The Entrepreneur

Catherine Krobo Edusei started Eden Tree in 1997 on her return to Ghana from the UK, where she worked as an administrator in a bank for 7 years. She has since demonstrated a strong passion and track record for growing the enterprise and engaging external funding and capacity-building to support business expansion. She is nationally recognized in Ghana as a strong promoter of women in business and received the 2013 national award from the Chartered Institute of Marketing in Ghana for “outstanding contribution towards nation-building”. 

Partnership with I&P

I&P committed alongside Eden Tree to:

• Increase the company's total sales volume and profitability 

• Grow and diversify its set of customers and channel partners 

• Increase reliability, cost-competitiveness and quality raw material supply 

Expected Impacts

• Increase its output from 1 to 4 tons per day to supply underserved markets 

• Directly impacting the lives of 2,000 family members in rural communities 

• Contribute to food safety and quality

• Respond to increasing incidence of agro-chemical abuse by farmers 

• Ensure that smallholders undertake their activities safely and sustainably 

NOVAGO (formerly known as "VRS") is a company with 20 years' experience in the field of full service long-term vehicle rental.

Created in 2004 by two French entrepreneurs, Pierrick Morier and Thomas Crand, NOVAGO has grown to become a key player in the long-term vehicle rental and fleet management sector in West Africa (Côte d'Ivoire, Senegal and Ghana), with a fleet of around 1,000 vehicles in 2023.

The company provides rental services for a wide range of clients, from professionals/SMEs to some of the larget international corporates based in West Africa. NOVAGO's activities include fleet management, vehicle maintenance and servicing, assistance and repairs, driver services and insurance.

NOVAGO plans to expand its activities in Benin and Togo.

The entrepreneurs

The management team consists of Jérôme de Villard, Chief Executive Officer of NOVAGO Africa, and Manuella Sako, Chief Financial Officer of NOVAGO Africa, Romain Pinto, Chief Executive Officer of NOVAGO Ghana, Mohamed Ly (NOVAGO Senegal) and Ramatoulaye Balde (NOVAGO Côte d'Ivoire).

The founders of the company, Pierrick Morier and Thomas Crand, are both members of the Board of Directors.

Partnership with I&P

I&P invested in the company in 2014 through its fund I&P Afrique Entrepreneurs, and reinvested with the fund IPAE 2.

Support by IPAE 1 (2014-2022)

⇒ The fleet managed by NOVAGO has grown from 80 to 800 recent, fuel-efficient vehicles.

⇒ Originally based in Ghana, the company has expanded its activities in Côte d'Ivoire and Senegal thanks to the support of IPAE 1.

⇒ I&P supported the implementation of a solid ESG plan for NOVAGO, symbolised by the launch of the first 100% electric vehicle in Côte d'Ivoire in 2023.

Ongoing projects (IPAE 2' investment)

In March 2023, NOVAGO completed a new round of financing with I&P (through IPAE 2) and Adiwale Partners. This new investment aims to :

⇒ Strengthen the company's business in its existing markets

⇒ Support NOVAGO's expansion into other West African countries

Key impacts

⇒ Creation of local standards within a nascent market

⇒ Development of a green cars offer

⇒ Pollution control policy (waste oil recycled) and implementation of a carbon offsetting strategy with the support of I&P and Ecosur Afrique

⇒ Improvement of employees’ social conditions thanks to a healthcare system

Read more

⇒ Company's website