BUSINESS DEVELOPMENT UPDATE – EBUAKWA BAKERY, EKUMFI EBUAKWA, GHANA
Ekumfi Ebuakwa has had an established CDF since May 2012. They have a strong savings culture and have even piloted the loan system. In addition to that, the community members are really interested in the business development aspect that the program offers. The London Business School piloted Business Brigades in this community in March 2013 to identify and then validate a couple of business ideas in the community. Of these, the idea of creating a Community Bakery was decided upon as the most viable.
Therefore, the Ebuakwa Bakery was the social enterprise project initiated in May 2013 after a series of community surveys and meetings. Over a period the six days these six the Sustainable Development Interns in July 2013, met with owners of other established bakeries in Cape Coast and Saltpond in addition to meeting with the manager already established Ekorsi Gari and Corn Mill Co-op to develop an extensive operations and marketing plan.
Since then the GB team has conducted a thorough Financial Analysis that has included field research into all possible costs and future revenue projections. At this time we are in the final stages of determining the equity buy-in from the community and therefore the loan size from the CDF. Additionally, the committed community members are starting to train with an established baker in Mankessim by the end of November for a period of 4 weeks while the community chief’s representative is overseeing the construction of the physical structure for the bakery. Stay tuned for more updates!