As part of activities to mark the International Day for Micro, Small and Medium-sized Enterprises (MSME Day), AngloGold Ashanti Obuasi Mine has launched a major new initiative — the Obuasi Entrepreneurship and Innovation Challenge — aimed at nurturing entrepreneurial talent, driving local development, and reducing economic dependency on mining.
The event, held on June 26, 2025, brought together stakeholders from government, academia, financial institutions, traditional authorities, and the business community in a durbar that celebrated the contributions of local MSMEs to Obuasi’s growing economy. The launch, which was a key highlight of the durbar, coincided with MSME Day, a day recognized globally to honor the impact of small and medium-sized businesses on communities and national economies.
Speaking at the launch, Edmund Oduro Agyei, Community Relations Manager at AngloGold Ashanti, emphasized the significance of the Challenge in the context of the mine’s broader development strategy.
“This morning, we are gathered here not only to celebrate the success of our SMEs… but also to spark the beginning of a movement that will shape the future of Obuasi’s economy,” he said.
He described the Challenge as an integral part of AngloGold Ashanti’s 10-Year Socio-Economic Development Plan (SEDP) and a continuation of the company’s flagship Business Acceleration and Sustainability Programme (BAST), which has trained over 1,383 MSMEs in business development, 53% of which are women-owned. Among the many success stories are entrepreneurs who have expanded operations, formalized their businesses, created jobs, and increased market share.
The new Obuasi Entrepreneurship and Innovation Challenge is being implemented in collaboration with Absa Bank Ghana LTD, Kwame Nkrumah University of Science and Technology (KNUST) – Obuasi Campus, and the Ghana Enterprises Agency. It is tailored to support youth with innovative and scalable business ideas by providing mentorship, technical support, and possible access to finance. The ultimate goal is to stimulate job creation and inclusive economic growth.
Thomas Opoku, the Obuasi Municipal Director of the Ghana Enterprise Agency, also expressed optimism about the sustainability of the initiative. He said GEA hopes the Challenge will “reduce the dependency rate on AGA” by promoting entrepreneurial independence.
The Obuasi Entrepreneurship and Innovation Challenge is expected to unearth and accelerate high-potential business ventures that align with Obuasi’s socio-economic goals, reinforcing AngloGold Ashanti’s pledge to “Make Obuasi Great Again.”