The Chief Sustainability Officer for Deloitte West Africa and Audit Partner at Deloitte Ghana, Abena Biney, is advising Micro, Small and Medium Scale Enterprises (MSMEs) to set up strong management to drive the business of their respective entities.
According to her, having the right professionals with managerial skills and a proven track-record is critical in building a business with a solid foundation that will 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. The event attracted over 500 business leaders, policymakers and professionals from across the African continent and was organised by AB & David with support from Deloitte, Absa Bank, Citi FM and Joy FM.
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, expenses, earnings) by considering the industry and market dynamics.
She also advised that MSMEs must 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 MSMEs’ need to implement strategic decision-making modules to make the business viable and attractive.
She also called formotivating employees in various ways while acknowledging the need to build trust and relationships with stakeholders.
ESG
With an increasing focus on sustainability and Environmental, Social and Governance (ESG) protocol, Abena Biney urged MSMEs to incorporate ESG goals into their businesses’ core values.
This, she believes, will enable them to easily access green financing and other sustainable financial products.
She also advised MSMEs to demonstrate green credentials by investing in green technologies and developing sustainable products and services.
Abena Biney’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-Sync Consult.
The Crystal Ball Africa event is an annual Pan-African business forum, held in January of each year, that provides deep insights on trends and issues which impact businesses in Africa.
It provides a platform for collaboration, networking and sharing insights on navigating complexities of the African business landscape. As businesses prepare for the challenges and opportunities of 2025, the one-day programme’s discussions highlighted the importance of strategic partnerships, innovation and government support in driving economic growth across the continent.
