ICODE Offers Free Training for Micro Businesses In Sekondi-Takoradi

ICODE training section

Western Region’s biggest innovation hub, Innovation Community of Developers Environment (ICODE) has trained over one hundred micro businesses to equip them with the requisite skills to improve their operations while they increase their profit margins.

With their focus on technology, business incubation and training, ICODE is poised to change the narrative of the contributions made by innovation hub in building up startups and helping sustain existing businesses as it empowers the youth in different walks of life.

The training, dubbed “Micro Business Games” which is ongoing with support from GIZ, an agency of the German foreign ministry and the “Sparkassen Stiftung fur de International Kooperation” (Savings Bank Foundation) also from Germany are expected to benefit about 500 businesses in the Western Region of Ghana.

The training basically focuses on financial literacy, basic economic background, analysis of events used in the simulation, planning income and cost (budgeting), the magic triangle of saving, saving versus loan, the economic impact of saving and the role of financial institution in making better decisions.

As part of the training, getting to know your numbers in theory and practice as business are essential so participants are divided into four groups with each group assuming leadership of a business simulation process. They take business decisions and gain insight into the internal and external factors that influence the performance of their businesses and receive feedback and reflect on the progress within the simulation.

The founder and CEO of ICODE, Prince Bonney disclosed that ICODE trains business men and women in Fashion, Agric, E-commerce and General B-to-B operations in addition to a host of other IT trainings. “But we are specialized in training businesses that use IT as a tool to power their businesses” he added.

According to him, ICODE has trained about 180 Startups in the Western Region between May to July 2019 alone of which GIZ and the Savings Bank Foundation has been of immense support to ICODE and beneficiaries in many endeavors.

“We realized that many people do their business without proper record keeping and this makes it difficult for them to receive funding from financial institutions like the banks to expand when the need arises. Knowing too well that banks rely heavily on income statements and financial accounting books to provide support, how then does your business get support. The training we do will help know the basic book keeping as well as positioning them to be able to balance their books properly as well as forecasting and even managing their supplies.”

Mr. Bonney says every batch of trainees receives mentorship by other businesses in the same space for a period to help them get hands on practice away from the theories thought.

“One of our main goal of the training program is actually to empower the private business person to create jobs for the community. Therefore, if a single entrepreneur is making more money there is a guarantee that he or she might employ someone else to expand the business. We want to encourage young entrepreneurs in Sekondi-Takoradi and the Western Region at large to create more businesses.”

Takoradi, he said can also experience the module seen in Accra and Kumasi where those places have become the center of attraction for business support and “ICODE will be offering this free training support to all young entrepreneurs and other organizations operating in Takoradi and its environs and the western region, adding that ICODE will soon be opening a branch in Tarkwa.

More photos:

Filed By: Benjamin Bray

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • UNESCO and Premium Times Centre train Gambian youth leaders on Media and Information Literacy (MIL) December 4, 2021
    Download logoA total of 40 youth leaders from national and regional youth associations in The Gambia on Wednesday, 1st December, completed a three-day training on Media and Information Literacy, as part of broader efforts to address hate speech and fake news in the country It was organized by UNESCO and delivered by Premium Times Centre […]
  • Osun State Adopts Integrated Strategies, Targets Over Two Million Residents for COVID-19 Vaccination December 4, 2021
    Download logoAs the festive season draws near and less than 2.9 % of Nigerians are vaccinated with the COVID-19 vaccine, the Osun State is implementing innovative integrated strategies to increase the percentage of the residents getting vaccinated against the virus.  Osun state, like many others in the country, unveiled a mass COVID-19 vaccination campaign. With […]
  • 2021 African Economic Conference (AEC): Experts call for African Crypto Currency, Integrated Capital Market to Ease Business Costs December 4, 2021
    Download logoA common crypto currency and an integrated capital market could boost trade in Africa and sustain growth after the Covid-19 crisis, experts said at the 2021 African Economic Conference on Friday. But the continent first needs to harmonise national rules and protocols governing the financial systems of individual countries to make the reforms workable, […]
  • Southern Africa Set for Economic Rebound, but Impact of Covid-19 Lingers December 4, 2021
    Download logoSouthern Africa is set for an economic rebound in 2021 and 2022, provided the Covid-19 pandemic tapers off, according to a report published by the African Development Bank (www.AfDB.org). Like elsewhere on the continent, the pandemic will be a deciding factor in the region’s economic fortunes. If all goes well, and that includes a […]
  • United States Government Funds Nine Social and Economic Small Grants across Malawi December 3, 2021
    Download logoThe U.S. Embassy today awarded approximately $103,000 (MWK 92 million) to nine organizations working in six districts across Malawi through the U.S. Ambassador’s Special Self-Help Fund, the Julia Taft Fund, and the Fiscal Transparency Innovation Fund. U.S. Chargé d’Affaires, a.i. Jeremey Neitzke presided over the signing ceremony saying: “These three programs are some of […]
  • DRC-Uganda: Civilians must be protected during joint military operations December 3, 2021
    Download logoAs the governments of Uganda and the Democratic Republic of the Congo (DRC) launch a joint military operation against the Allied Democratic Forces (ADF) rebels, following recent attacks in Uganda attributed to this group, Amnesty International is calling on all parties to ensure the protection of civilians and adherence to international humanitarian law. The […]
  • The African Energy Chamber welcomes the ruling for Shell to proceed with its seismic surveys of the Eastern Cape December 3, 2021
    The African Energy Chamber (EnergyChamber.org) lauds the South African High Court’s decision to allow multinational oil and gas company Shell to conduct seismic surveys offshore South Africa. Following an 11th hour attempt by environmentalists to halt plans by Shell to conduct seismic surveys along the eastern coast of South Africa, the court ruled in favor of […]
  • Federal Councillor Ignazio Cassis welcomes the foreign minister of the Kingdom of Morocco to Bern December 3, 2021
    Download logoOn 3 December in Bern, Federal Councillor Ignazio Cassis welcomed Nasser Bourita, Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates. This official visit marks the centenary of Switzerland's diplomatic presence in Morocco. Both sides signed a joint declaration, a memorandum of understanding on political consultations and a declaration on cooperation under the Paris […]
  • UNMISS peacekeepers from South Korea begin repairing main road linking Bor and Pibor December 3, 2021
    South Korean engineers serving with the United Nations Mission in South Sudan (UNMISS) have begun rehabilitating the road connecting Jonglei state with the neighboring Greater Pibor Administrative Area. The main aim of the project: To boost trade, enable communities to convene and connect with each other and build peace by enhancing regional integration.   “I […]
  • On International Day of Persons with Disabilities, the UN calls for increased recognition of persons with disabilities December 3, 2021
    Download logoOn the occasion of the International Day of Persons with Disabilities, the United Nations Secretary-General's Special Representative for Somalia, James Swan, calls for increased recognition of the rights of persons with disabilities under the Convention on the Rights of Persons with Disabilities. “Persons with disabilities of all age groups have been identified as a particularly […]
About Editor 625 Articles
Joe Bright Nyarko Journalist/Communication Researcher. Environment & Sustainability Advocate. Managing Editor of aptnewsghana.com, a non-profit news portal with bias towards environment and sustainability issues, rural development policies and gender & inequality.