Mrs. Abena Biney the Chief Sustainability Officer for Deloitte West Africa and Audit Partner at Deloitte Ghana, has advised Micro Small and Medium Scale Enterprises (MSMEs) to set up a strong management to drive the business of their respective entities.
In her speech, she stated that having the right professionals with managerial skills and a proven track record is critical in building a business with a solid foundation that would stand the test of time.
Mrs. Biney disclosed this at the 2025 Crystal Ball Africa Forum on the topic: “Cracking the Code – Hidden Wealth and the Solutions in Search for Problems” with emphasis on MSMEs.
In offering solutions for MSMEs to navigate the challenges facing them, the Deloitte Audit Partner whose session was one of the most exciting urged businesses to develop a well-defined business plan, and put in place an achievable financial projection (revenue, expense, and earnings) by considering the industry and market dynamics.
She also advised the MSMEs to pay critical attention to Brand Marketing and have a Stronger Customer Acquisition Strategy since they are key elements for growth.
Leadership
On leadership which Mrs. Biney described as very important for the growth of MSMEs, she enumerated the need for MSMEs to implement strategic decision-making modules to make the business viable and attractive.
She also called for the motivation of employees in various ways whilst acknowledging the need to build trust and relationships with the stakeholders.
ESG
With an increasing focus on sustainability and Environmental, Social, and Governance (ESG), Abena Biney urged the MSMEs to incorporate ESG goals into their business core values.
This she believes will enable them to easily access green financing and other sustainable financial products.
She also advised the MSMEs to demonstrate green credentials by investing in green technologies and developing sustainable products and services.
Abena’s panel included Capital Market Consultant, David Ganesha Tetteh; Kobla Nyalatey, Executive Director, Retail and Business, Absa Bank Ghana, and Dr. Benneth Kpentey, a Financial Consultant and CEO of Sync Consult.
The Crystal Ball Africa is an annual Pan-African business forum held in January of each year, that provides deep insights on trends and issues that impact businesses in Africa.
It provides a platform for collaboration, networking, and sharing insights on navigating the complexities of the African business landscape. As businesses prepare for the challenges and opportunities of 2025, the discussion for the one-day program highlighted the importance of strategic partnerships, innovation, and government support in driving economic growth across the continent.
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