McDan Foundation breaks ground for construction of modern shea nut factory

Accra, July 23, GNA- The McDan Foundation breaks ground for the construction of a modern shea nut processing warehouse and factory in Nasia in the Northern region.

Mr Frank Oduro, the Head of the Foundation led the ceremony on behalf of Dr Daniel Mckorley, the Founder and Executive Chairman of McDan Group of Companies.

The Foundation will support the facility with a state-of the-art shea butter processing equipment and a Kia Truck.

The facility due to be completed in three months would cost GHc 550,000 and create over 100 direct and indirect employment for the youth in the community.

The facility is meant for Mr Alhassan Hamza Akoligo, a young entrepreneur who won the maiden Season One McDan Entrepreneurship Challenge in February 2020.

He took home the $100,000 coveted prize money beating nine other finalists to win the prize at the grand finale.

A statement from the Foundation copied to the Ghana News Agency in Accra said the gesture was part of the foundation’s corporate social responsibility to empower young entrepreneurs to scale up their business modules.

Alhassan Hamza Akoligo, a young entrepreneur who established Alkoh Shea Butter at Gambaga in the North East Region, has won the Season One of the McDan Entrepreneurship Challenge, taking home the $100,000 coveted prize money.

Each of the nine contestants received GH¢25,000.00 from McDan Foundation, established by Dr Daniel Mckorley, the Founder and Executive Chairman of McDan Group of Companies.

The statement quoted Dr Mckorley resolute support for the next generation of Ghanaian entrepreneurs to grow and expand their businesses.

He advised them to be determined, resilient and disciplined to accomplish their vision of becoming multi-million-dollar entrepreneurs.

He noted that bad attitudes and indiscipline could easily collapse budding businesses since research had shown that out of 100 small-scale enterprises only 10 succeeded in becoming multi-million-dollar ones.

Dr Mckorley entreated young entrepreneurs to be innovative and creative in their dealings to make headway in life and positively impact on the national economy.

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Competition for $100K McDan Entrepreneurship Challenge Prize enters the final phase

The competition for the $100,000 McDan Entrepreneurship Challenge (MEC) Prize has entered its final phase.

The MEC seeks to identify the brightest young entrepreneurs or start-up business managers or students with an extraordinary business model, to reward with the prize money to establish the next largest conglomerate in Africa and beyond.

More than 7,000 entries (from both individuals and groups) were received last year when it opened nominations for the MEC prize.

The number was shortlisted to 600, and then a further shortlisting brought the figure to 60 semifinalists.

The contestants were offered mentoring and coaching before being sieved down further to 10 finalists who are now in the final phase and will be featured in a 13-week television series.

The television series will be shown on Joy News TV on Tuesdays at 6 pm, with a repeat on Saturdays at 8 pm. It will also be shown on Ghana Television (GTV) on Tuesdays at 8:30 pm starting from 16th April 2019.

With funding from business mogul Daniel McKorley known popularly as McDan, the MEC is organized by the Today’s Entrepreneurs Network (TEN Ghana), an organisation that is working to encourage the ‘create your own job’ spirit among young people in the country.

Partner institutions include the Ghana Institute of Management and Public Administration (GIMPA), Ministry of Business Development, National Entrepreneurship and Innovation Plan (NEIP) and Revolutionary Minds Communications (RM Communications).

 

Source: Ghana | JoyBusiness | JAD
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