How Young Entrepreneurs Are Building New Wealth in Accra

Introduction: A New Generation, A New Economy

In a modest workshop in Aladjo, a suburb of Accra, coconut shells that once littered streets and markets are being transformed into cups, bowls, and spoons. Elisha Kofi Foli, a young entrepreneur living with a disability, saw waste and envisioned opportunity . Across the city, in the classrooms of Soronko Academy, young women who were once told they didn’t belong in tech are now launching e-commerce stores, building websites, and hiring others . In university hostels and co-working spaces, teams of young founders are coding solutions for fintech, logistics, and agriculture .

This is not the Accra of a decade ago—where a good education led to a job search, and a job search led to a government posting or a corporate role. The new Accra is being built by young people who are not waiting for doors to open. They are building their own.

Across the capital, a generation of entrepreneurs is quietly rewriting the rules of wealth creation. They are not relying on inheritance or connections. They are leveraging digital tools, sustainable practices, and a fierce determination to solve problems they have witnessed in their own lives. From the 40 young businesses showcased at Fidelity Bank’s Orange Market to the innovators gathered at the Timbuktoo Agritech Hub, a new economic engine is firing up—and it is powered by youth .

This ASJ article explores how young entrepreneurs in Accra are building new wealth, the ecosystems supporting them, and the pathways that are turning side hustles into sustainable enterprises.

The New Wealth Creators: Stories from the Frontlines

Elisha Kofi Foli: From Coconut Waste to Eco-Friendly Products

At Polo Junction in Aladjo, coconut vendors operate in abundance. For years, the shells were discarded indiscriminately, piling up as environmental hazards . But for Elisha Kofi Foli, a young entrepreneur and a person living with a disability, those shells were not refuse—they were raw materials.

Elisha founded MyCocoStuff Ghana to convert coconut waste into biodegradable products: cups, bowls, spoons, and spoons. His process separates the coconut into shell, fibre, and cocopeat, with the fibre also finding applications in construction .

His journey began in 2022 with a single machine. It has been marked by resilience. “The journey hasn’t been easy,” he admits. “Operating machinery as a person living with disability is not easy. Accessing funds to expand production is also a major challenge, and getting people to understand and accept eco-friendly products takes time” .

Yet his persistence is paying off. MyCocoStuff represents a new model of wealth creation—one that addresses environmental degradation while building a viable business. Elisha’s work also highlights the need for systemic support. He is calling for policies to reduce single-use plastics and for partnerships with institutions like Ghana EXIM Bank to support expansion .

Erica Appiah: Agritech Innovation from the Ground Up

Erica Appiah grew up in Accra, but her entrepreneurial roots lie in the farms of Akim Swedru, where she frequently visited her grandmother and great-grandmother—subsistence farmers who toiled to put food on the table . “I have watched the women in my life work so tirelessly, so for me, it has almost become second nature. I have learned to work hard no matter the circumstance—to achieve my goals,” she reflects .

During her undergraduate studies in Agribusiness Management at KNUST, Erica met her co-founders—John and Solomon—through the Mastercard Foundation Scholars Program. Together, they started a campus project focused on solving problems they had witnessed: post-harvest losses among smallholder farmers .

Their first innovation was a multi-stage rice thresher. Farmers can lose up to 46 per cent of their yield due to inefficient post-harvest methods, and Erica had seen this firsthand. The team’s big break came through the INFoCAT Innovation Challenge, organized by the United Nations University Institute for Natural Resources in Africa (UNU-INRA). Selected from hundreds of applicants, they received an initial seed fund of $7,400 to adapt their solution into one that was more efficient, solar-powered, and women-friendly .

The journey was grueling. “Entrepreneurship has stretched me beyond what I imagined,” Erica says. “There were times I questioned my decision repeatedly. The financial pressure was real.” As the eldest sibling, she faced pressure from home to get a “proper paying job.” “It was difficult hearing those comments while trying to build something meaningful” .

What kept her going was the farmers. “Every time I saw a farmer use our machine and smile—every time I saw relief on their faces—it reminded me why the team started” . After rigorous testing, Wobil Technologies was selected as one of the winners of the INFoCAT grant—approximately $25,000—validating the sleepless nights and the self-doubt.

Today, Erica’s journey is a testament to how agritech innovation can create wealth while solving critical food security challenges. Her story also highlights the importance of targeted support for women in agriculture mechanization—a space where women are still underrepresented .

Regina Honu: Building a Pipeline of Women Tech Entrepreneurs

When Regina Honu graduated with a computer science degree, she was ready to work. But hiring managers saw her gender before they saw her skill. “Doors didn’t open. Interviews turned cold. People were surprised that she even knew how to code” .

Instead of giving up, she built something of her own.

In 2016, Regina launched Soronko Academy, the first coding and digital skills academy for girls and young women in West Africa. She started in Accra, working with local schools and community centres to offer free and low-cost training. Her mission was simple: to give young women the skills, confidence, and opportunity to enter the tech industry—or to create their own business if the industry refused to hire them .

What began with HTML, CSS, and basic web development quickly expanded. Regina saw that many women needed more than technical skills. They needed laptops. They needed financial literacy. They needed networks. Soronko expanded its curriculum to include entrepreneurship, design thinking, communication, and digital marketing .

By 2020, Soronko had trained over 6,500 women and girls across Ghana. Some became freelance designers. Others launched e-commerce stores. Tailors and bakers built websites to promote their work. One woman started an online tutoring platform. Another began selling handmade soap internationally .

Regina was building more than a training program—she was building a pipeline from learning to freelancing to launching full businesses. She worked with banks to help participants open accounts and apply for loans. She partnered with internet cafés and hardware providers to reduce barriers to tech access. And she brought in mentors: local entrepreneurs who could answer questions and provide encouragement .

In 2021, Soronko partnered with the Mastercard Foundation to scale its model to rural regions. Many of the women in these areas had never used a computer. Some had never touched a smartphone. But with patience and the right tools, they learned to code, budget, and build online profiles .

In 2023 alone, more than 300 graduates of Soronko launched registered micro-enterprises—from digital services and online stores to community training hubs of their own. They are hiring others. They are paying taxes. And they are shifting what employment looks like in their communities .

Regina’s story is a powerful example of how entrepreneurship can be taught, nurtured, and scaled. It is not about waiting for policy reform—it is about creating infrastructure that supports entrepreneurship from the ground up .

The Ecosystem Supporting Young Entrepreneurs

Fidelity Bank’s Orange Market: Bridging the Gap Between Funding and Market Access

In March 2026, Fidelity Bank Ghana hosted the third edition of the Orange Market in partnership with Accra Goods Market. The event provided a high-traffic commercial platform for 40 young entrepreneurs to showcase their products, test their business models, and generate direct revenue .

The Orange Market is a flagship initiative under the Fidelity Young Entrepreneurship Initiative (FYEI), which supports beneficiaries of the Orange Corners Innovation Fund (OCIF), a program run in partnership with the Embassy of the Kingdom of the Netherlands . Since its launch in 2024, the Orange Market has created market opportunities for 95 young businesses in just two years—from 35 entrepreneurs in the inaugural edition to 40 in the third .

Nana Yaa Afriyie Ofori-Koree, Head of Partnerships, Sustainability and CSR at Fidelity Bank, explained the thinking behind the initiative: “We realized early on that providing funding, capacity building, training, and certification is incredibly important, but it is simply not enough if these brilliant businesses do not have a market to sell to” .

The Orange Market solves exactly that problem. By partnering with established platforms like The Accra Goods Market—which has spent over a decade connecting vendors with consumers—Fidelity Bank is giving young entrepreneurs a commercial advantage that extends beyond funding . The 40 businesses featured spanned diverse sectors: agribusiness, sustainable fashion, tech-enabled services, and creative arts .

Makafui Ayimey, Founder of The Accra Goods Market, noted the power of collaboration: “This collaboration proves that when corporate institutions and ecosystem builders join forces, we can create an unparalleled launchpad for the next generation of Ghanaian business leaders” .

Timbuktoo Agritech Hub: Powering Africa’s Agricultural Innovation

On March 12, 2026, the Timbuktoo Agritech Hub was launched in Accra under the auspices of the United Nations Development Programme (UNDP) in partnership with the Government of Japan . The initiative aims to advance agricultural innovation and entrepreneurship across Africa, supporting startups developing solutions to improve productivity, strengthen food systems, and promote climate-resilient agriculture .

Ms. Shaima Hussein, Deputy Resident Representative of UNDP Ghana, explained that Timbuktoo is a bold pan-African initiative aimed at improving the livelihoods of 100 million people. The Agritech Hub will support startups in climate-smart agriculture, supply-chain innovations, and market-access technologies .

Mr. Samuel Nartey George, Minister of Communications, Digital Technology and Innovation, noted that agriculture remains central to livelihoods but faces challenges including climate change, fragmented supply chains, and limited access to finance—challenges that require innovative and sustainable solutions. He emphasized that digital tools and artificial intelligence could transform the sector by improving decision-making, market access, and resilience against climate shocks .

The broader Timbuktoo initiative aims to mobilize one billion dollars over 10 years, support 10,000 startups, scale 1,000 high-growth enterprises, improve livelihoods for 100 million people, and generate 10 billion dollars in value across the continent .

ThirdWell Inclusive Business Centre: A One-Stop Resource Hub

In February 2026, the ThirdWell Inclusive Business Centre (IBC) was officially launched at La Palm Royal Beach Hotel in Accra . Described as a one-stop resource hub, the Centre provides strategic advisory services, corporate governance guidance, and coordinated access to professional support for accredited inclusive businesses .

Mr. Osah Thompson-Mensah, Founder and Chairman of the Centre, explained that IBC was established to address major challenges faced by inclusive businesses and SMEs, particularly in strategic management, access to financing, and building strong partnerships .

The Centre’s work builds on the Inclusive Business Initiative in Ghana, which has already accredited 27 companies as inclusive businesses in 2024 and 2025. These businesses have generated a combined revenue of GH¢1.18 billion while impacting over 2.25 million people—demonstrating the powerful role inclusive businesses can play in driving economic and social transformation .

Mr. Thompson-Mensah called for inclusive business to become the foundation of Ghana’s economic development strategy, arguing that “when citizens are economically empowered, they demand more goods and services, which stimulates production, drives factory expansion and boosts exports” .

Enterprise Spotlight: A High-Stakes Competition for Young Entrepreneurs

On March 16, 2026, Enterprise Group PLC launched Enterprise Spotlight, a high-stakes competition aimed at propelling Ghana’s brightest young business minds into the national spotlight . The initiative, delivered in partnership with Springboard Road Show Foundation (SRSF), is open to entrepreneurs aged 18 to 40 from all sectors of the economy, with women and persons with disabilities strongly encouraged to apply .

Through a nationwide application process, 24 entrepreneurs will be selected. Participants advancing through the stages will receive direct financial support:

Beyond financial rewards, Enterprise Spotlight offers mentorship, national visibility, and market access. All participants will receive formal enrolment in a structured Mentoring and Counselling Program, a dedicated business showcase on Springboard, and access to Springboard’s nationwide network of over one million young Ghanaians .

The Executive Director of Springboard Road Show Foundation framed the initiative’s significance: “Ghana’s entrepreneurs have always been ready. They did not need to be discovered; they needed a door to be opened. Enterprise Spotlight is that door” .

Ultimate Charismatic Centre: Empowering Traders with Business Grants

Beyond corporate and institutional support, faith-based organizations are also contributing to the ecosystem. The Ultimate Charismatic Centre has disbursed grants totaling approximately GH¢450,000 to about 500 traders and small-scale business operators in Accra, Kumasi, Koforidua, and Sunyani .

The church has also begun providing skills training to youth in Dome, Accra, in batik tie-dye, hairdressing, and IT/AI technologies to empower them to start their own businesses .

Prophet Akwasi Agyeman Prempeh, the General Overseer, stated that the grant scheme would be expanded this year to reach at least 1,000 individuals. “Christianity combines both the spiritual and physical development of people,” he explained .

The Startup Ecosystem: Accra as an Innovation Hub

From Trading Hub to Innovation Hub

Historically, Accra thrived as a trading and administrative center. Its economy was largely driven by retail, imports, public sector activity, and traditional services . But a parallel ecosystem has emerged—one built on digital infrastructure and venture-backed ambition.

The modern Accra startup is not merely a small business. It is designed to scale. It leverages technology, data, and network effects. It aims to solve systemic inefficiencies—whether in finance, logistics, healthcare, agriculture, or education . This shift signals a transition from transactional commerce to innovation-led enterprise.

Fintech: The Financial Disruptors

Financial technology remains the most visible startup category in Accra. As mobile penetration deepened and digital payments became mainstream, entrepreneurs identified gaps in credit access, savings, remittances, and business financing .

Startups are now:

• Offering digital lending to underserved SMEs

• Providing payment gateways for online merchants

• Enabling cross-border remittances

• Building micro-investment platforms

These companies are not replacing banks outright. Instead, they are expanding access, reducing friction, and reaching demographics previously excluded from formal finance. In doing so, they are accelerating financial inclusion and reshaping how money moves within the economy .

E-Commerce and Logistics Reinvention

Online retail in Accra has matured significantly. What began as basic marketplace platforms has evolved into sophisticated supply chain ecosystems . Startups are integrating:

• Inventory management systems

• Real-time tracking

• Last-mile delivery optimization

• Digital payment integration

Logistics startups, in particular, are addressing one of Accra’s persistent challenges: efficient urban delivery. By applying route optimization software and data analytics, these companies are reducing delivery times and operational costs .

Agritech: Urban Solutions to Rural Challenges

Though Accra is urban, many of its startups are solving rural problems. Agritech ventures headquartered in the capital are building platforms that connect farmers to markets, provide digital extension services, and facilitate supply chain transparency . This model illustrates an important point: innovation does not need to be geographically located where the problem exists. It only requires access to talent, capital, and digital infrastructure. Accra provides that ecosystem .

The Talent Engine

One of the most significant drivers of startup growth is talent concentration. Universities, coding bootcamps, and tech communities are producing developers and product managers at increasing rates . Young professionals are choosing entrepreneurship over traditional employment pathways. The appetite for risk is higher than it was a decade ago. This cultural shift—from job-seeking to job-creating—may be the most transformative element of Accra’s startup story .

Key Sectors Where Young Entrepreneurs Are Building Wealth

Challenges Young Entrepreneurs Face

Despite the momentum, structural obstacles remain :

• Regulatory uncertainty: Unclear or changing regulations can stall growth

• Limited access to large-scale capital: Early-stage funding exists, but growth capital remains scarce

• Infrastructure bottlenecks: Unreliable power and internet require costly backups

• Market access: Even with great products, reaching customers is a persistent challenge

• High failure rates: Not all startups succeed, but failure contributes to ecosystem maturity

Erica Appiah’s experience captures the personal challenges: “Entrepreneurship can be lonely. There were moments of self-doubt, moments of comparing myself to peers who had stable careers. Support didn’t always come when we expected it. Funding was uncertain. Progress was slow” .

What This Means for Aspiring Young Entrepreneurs

Start with a Problem You Know

Erica Appiah was inspired by the women in her family who farmed. Elisha Foli saw coconut waste piling up in his neighborhood. Regina Honu faced gender discrimination in the tech job market. The most sustainable businesses often emerge from problems founders have experienced personally .

Seek Out Ecosystem Support

Accra’s startup ecosystem is growing. Key resources include:

• Funding and market access: Fidelity Bank’s Orange Market, Enterprise Spotlight

• Incubation and mentorship: Timbuktoo Hub, Impact Hub Accra, Springboard

• Skills training: Soronko Academy, One Million Coders Programme

• Inclusive business support: ThirdWell Inclusive Business Centre

Build Resilience

Erica’s advice to aspiring entrepreneurs: “It is okay to feel tired. It is okay to feel discouraged. But quitting should never be an option. Entrepreneurship comes with setbacks, but those setbacks refine you. They build resilience” .

The Road Ahead: A Structural Shift

Skeptics may argue that startup enthusiasm is cyclical. Yet several indicators suggest structural permanence :

• Growing digital adoption across demographics

• Continuous talent pipeline development

• Expanding investor interest

• Increasing institutional support

Accra is gradually positioning itself as a West African innovation node. The transformation may not make daily headlines, but its cumulative effect is reshaping the city’s economic future . If sustained, startup growth could:

• Diversify Ghana’s economic base

• Increase exportable digital services

• Strengthen SME competitiveness

• Attract foreign direct investment

The quiet revolution unfolding in Accra is not about instant unicorns. It is about ecosystem building. And ecosystems, once rooted, tend to endure .

Frequently Asked Questions (FAQs)

1. What sectors are young entrepreneurs in Accra focusing on?
The most active sectors include fintech, agritech, sustainable manufacturing, e-commerce, logistics, and creative arts. Young entrepreneurs are also building businesses in tech-enabled services and digital skills training .

2. How can young entrepreneurs access funding in Accra?
Funding sources include competitions like Enterprise Spotlight (prizes up to GHS 100,000), grants like the INFoCAT grant (up to $25,000), and initiatives like Fidelity Bank’s FYEI, which provides patient capital and mentorship .

3. What is the Orange Market and how does it help young businesses?
The Orange Market is a flagship initiative by Fidelity Bank Ghana in partnership with Accra Goods Market that provides a high-traffic commercial platform for young entrepreneurs to showcase products and generate direct revenue. Since 2024, it has created market opportunities for 95 young businesses .

4. What is the Timbuktoo Agritech Hub?
The Timbuktoo Agritech Hub is a UNDP-backed initiative launched in Accra in March 2026 to support startups developing climate-smart agriculture, supply-chain innovations, and market-access technologies. It aims to mobilize $1 billion over 10 years and support 10,000 startups across Africa .

5. How can women entrepreneurs access support in Accra?
Organizations like Soronko Academy provide coding and entrepreneurship training specifically for women and girls. The Enterprise Spotlight competition encourages women to apply, and the ThirdWell Inclusive Business Centre supports inclusive businesses, including women-led enterprises .

6. What challenges do young entrepreneurs face in Accra?
Key challenges include limited access to large-scale capital, regulatory uncertainty, infrastructure bottlenecks, and market access difficulties. However, the ecosystem is growing, and institutional support is expanding .

7. How can I participate in Enterprise Spotlight?
Applications are open to entrepreneurs aged 18–40 with registered businesses in Ghana. The deadline is April 6, 2026. Apply at www.myenterprisegroup.io or www.springboard.com.gh .

8. What is the ThirdWell Inclusive Business Centre?
ThirdWell IBC is a private not-for-profit organization established to empower inclusive businesses by promoting investment and partnerships that enhance their capacity to scale sustainable impact. It provides strategic advisory services, corporate governance guidance, and coordinated access to professional support .

Conclusion: The New Architects of Wealth

The young entrepreneurs of Accra are not waiting for permission. They are not waiting for doors to open, for connections to materialize, for the economy to improve. They are building—with code, with coconut shells, with solar-powered machines, with training programs that turn beginners into business owners.

Erica Appiah, who once questioned her decision to pursue entrepreneurship, now sees farmers smile when they use her machines. Elisha Foli, who navigates the challenges of running machinery as a person with a disability, is transforming waste into products that could replace single-use plastics. Regina Honu, who was told she didn’t belong in tech, has trained thousands of women who are now running their own businesses and hiring others.

These are the new architects of wealth in Accra. Their wealth is not inherited. It is earned, built, and shared. And in the process, they are not just transforming their own lives—they are transforming the city itself.

The quiet revolution unfolding in Accra is not about waiting for change. It is about making it.

Frequently Asked Questions (FAQs)

1. What sectors are young entrepreneurs in Accra focusing on?
The most active sectors include fintech, agritech, sustainable manufacturing, e-commerce, logistics, and creative arts .

2. How can young entrepreneurs access funding in Accra?
Funding sources include competitions like Enterprise Spotlight (prizes up to GHS 100,000), grants like the INFoCAT grant (up to $25,000), and initiatives like Fidelity Bank’s FYEI .

3. What is the Orange Market and how does it help young businesses?
The Orange Market is a Fidelity Bank initiative that provides a high-traffic commercial platform for young entrepreneurs to showcase products and generate revenue. It has created 95 market opportunities since 2024 .

4. What is the Timbuktoo Agritech Hub?
A UNDP-backed initiative launched in Accra in March 2026 to support agritech startups across Africa, aiming to mobilize $1 billion and support 10,000 startups .

5. How can women entrepreneurs access support in Accra?
Soronko Academy provides coding and entrepreneurship training for women. Enterprise Spotlight encourages women to apply, and ThirdWell IBC supports inclusive businesses .

6. What challenges do young entrepreneurs face?
Key challenges include limited access to capital, regulatory uncertainty, infrastructure bottlenecks, and market access difficulties .

7. How can I participate in Enterprise Spotlight?
Applications are open until April 6, 2026, at www.myenterprisegroup.io or www.springboard.com.gh. Applicants must be aged 18–40 with a registered business in Ghana .

8. What is the ThirdWell Inclusive Business Centre?
A one-stop resource hub providing strategic advisory services, corporate governance guidance, and access to professional support for inclusive businesses .

9. How many inclusive businesses have been accredited in Ghana?
27 companies have been officially accredited as inclusive businesses in 2024 and 2025, generating GH¢1.18 billion in revenue and impacting over 2.25 million people .

10. What is the long-term outlook for Accra’s startup ecosystem?
If sustained, startup growth could diversify Ghana’s economic base, increase exportable digital services, strengthen SME competitiveness, and attract foreign direct investment

Source: Accra Street Journal 

Last Updated on March 28, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

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