Access Bank Ghana PLC has strongly advised youth-owned small and medium-sized enterprises (SMEs) to embrace Artificial Intelligence (AI). The bank states that AI is crucial for innovation, competitiveness, and sustainable growth. Businesses that do not adapt to AI risk falling behind in the increasingly digital economy.
This urgent call was made during the BUILT Powered by Access U AI Business Sprint. This event was an entrepreneurship and capacity-building workshop held in Accra. Astra Roster organized the program to provide young entrepreneurs with practical AI skills. These skills aim to strengthen their brands, improve productivity, and help scale their businesses.
The initiative is part of Access U, Access Bank Ghana's main platform. Access U focuses on empowering the next generation of entrepreneurs. It does this through sharing knowledge, fostering innovation, and building strategic partnerships. These efforts promote business growth and economic inclusion across Ghana.
Nana Akuffo, Head of Youth Banking at Access Bank Ghana, spoke at the event. He described AI as "the great equaliser." Mr. Akuffo explained that AI offers businesses of all sizes opportunities to compete, innovate, and expand. He stressed that AI allows businesses to redefine how they operate, regardless of their starting point. Entrepreneurs who adopt AI today will be better positioned to lead tomorrow's economy.
Mr. Akuffo highlighted Africa's changing demographics. He noted that by 2050, most of Africa's population will be under 25 years old. This demographic shift creates both an opportunity and a critical need. It requires investing in youth entrepreneurship and digital capabilities. Equipping young entrepreneurs with necessary skills and technologies is vital for competing in a fast-changing global market.
He stated that the shift towards AI is already happening. The key question is whether young entrepreneurs will lead this change. Africa's economic future is being built by its young entrepreneurs today. They must have the right tools and skills to succeed.
AI is no longer just another business tool, according to Mr. Akuffo. It is a transformative technology reshaping industries worldwide. AI helps entrepreneurs overcome traditional barriers to growth. These barriers include limited access to capital, networks, and operational capacity. He encouraged SMEs to use AI to improve efficiency, enhance customer experience, and find new market opportunities.
Access Bank's partnership with the BUILT initiative shows its commitment to supporting youth-led enterprises. This support goes beyond providing financial services. Mr. Akuffo explained that their involvement in BUILT creates meaningful experiences. These experiences empower young entrepreneurs with the knowledge and tools they need. SMEs are the backbone of Ghana's economy. Access Bank is committed to supporting them as a true partner.
The BUILT Powered by Access U AI Business Sprint brought together youth-owned SMEs from across the country. Participants engaged in practical sessions. These sessions covered applying AI in branding, marketing, business operations, and growth strategies. Through initiatives like Access U, Access Bank Ghana aims to strengthen Ghana's entrepreneurial ecosystem. It does this by equipping young business owners with digital skills. These skills are essential for building resilient, competitive, and future-ready enterprises. This strategic focus ensures Ghana's youth are prepared for the evolving global economic landscape.