CIBER Focus "Microfinance in Ghana" with Menasseh Portuphy
From IIB Institute for Intl Business on February 8th, 2016
Menasseh Portuphy and Jimmy Bettcher discuss Portuphy's work in Ghana with his microfinance company Kingsbridge Corporate Services Ltd. Portuphy is CEO of Kingsbridge, and Bettcher is a 2012 MBA candidate at the Indiana University Kelley School of Business. Portuphy first describes how he entered the field of microfinance after seeing how well small businesses were supported in London, compared to Ghana. 80% of Ghanaian small businesses cannot obtain traditional loans from large banks, because they do not want to lose family ownership and often do not have the necessary documentation for a loan. Portuphy founded his microfinance company four years ago to address this problem. He began working in small communities outside of Accra, helping small businesses grow by offering microcredit loans and advising services. Portuphy notes that a general lack of support for small businesses and startups is the key challenge in Ghana. It is difficult to find information on how to start a business, and entrepreneurs must be very persistent in order to succeed. He also notes that there are many opportunities for foreign companies to invest or expand in Ghana. Last, Portuphy reflects on his experience working with student consultants at Kelley. *This video was recorded as a part of the Indiana University CIBER Focus Vodcast series.