Ghana: PEL launches new online equity crowdfunding platform

Propartners Exchange Limited (PEL), a financial institution, has launched an online platform to provide crowdfunding services to the general public.

The new platform, www.propartners.com.gh, is part of a rebranding process initiated by the company to catch up with the latest technological trends and thus improve its services.

The move was also part of the company’s efforts to increase support for start-ups and existing businesses inside and outside Ghana.

With the new platform also offering original equity partnerships, companies looking for funding no longer need to visit the company before applying as the platform is fully automated to do so.

Speaking at the launch in Accra yesterday, Managing Director of Propartners, Mr. Wisdom Anku, said the company has chosen to upgrade its new corporate brand due to the advent of technology.

“The name of our company has not changed, the objectives and ideals of Propartners have not changed either, but we have realized that with new technologies, new demands are imposed on the market.”

“We are expanding our reach on the internet and that means we are competing with sophisticated companies in this space, hence improving our corporate image,” he added.

Mr. Anku expressed his gratitude to the promoters, original directors, shareholders, auditors and members of the advisory board of Propartners for their contribution to the success of the company.

Commenting on the impact of the pandemic on the running of his business, the managing director said it has not been easy but due to perseverance and determination the business has continued to grow.

He added that: ‘Despite terrible disruption, no staff were made redundant, we all survived.’

In his address, the Chairman of the Board of Propartners Exchange Limited, Mr. Benjamin Atidjah noted that the research revealed that Small and Medium Enterprises (SMEs) dominate the Ghanaian economy by around 90%, employing approximately 60% of the country’s workforce and raking in about 70% of Ghana’s GDP.

As a giant revenue-generating domain, the sector, he said, has played a pivotal role in the socio-economic development of the country.

However, he lamented that businesses in the SME sector have faced many challenges, including lack of access to finance.

Explaining, Mr. Atidjah said that the government and various organizations have contributed to the development of SMEs “but these interventions have been largely insufficient to achieve the desired growth results”.

He revealed that Propartners focused on providing holistic business growth solutions to SMEs by bringing investors and financial partners to the doorstep of entrepreneurs and vice versa.

According to him, the company had, over the past five years, delivered on its promise to support business growth.

Mr. Atidjah advised SMEs to make their business attractive to investors both abroad and domestically.

“We encourage local businesses seeking funding to embrace the novelty in raising capital. Equity partnerships and equity crowdfunding are brilliant ways to raise capital,” he added.