Rising from Challenges to Opportunity
At 56 years old, Peter Afreh Asamoah’s journey from financial hardship to business success is a testament to resilience and the transformative power of support from REP. After completing senior high school, financial constraints forced him to abandon his dream of pursuing higher education. Determined to forge a path to success, he chose to learn carpentry in Breman Asikuma, where he underwent a three-year apprenticeship.
Upon completing his training, Peter set up his own carpentry shop in Breman Amanfopong, within Ghana’s Central Region. While he had acquired the technical expertise, running a business came with challenges. A turning point came when he met Mr. Samuel Asiedu, the District Director of BAC in Asikuma. Mr. Asiedu introduced him to REP, a government initiative co-funded by IFAD to support rural entrepreneurs.
The Power of Training and Financial Support
In 2006, Peter registered with the BAC and began receiving support from REP. Through the programme, he underwent technical training to enhance his carpentry skills, alongside business management training that covered financial record-keeping, marketing, and business development. The financial assistance he received helped him improve efficiency, expand operations, and engage with his community.
“The technical and managerial skills I received have proven essential for my success. Thanks to the support from REP, I was able to complete my own house in 2006, just two years after starting construction,” Peter recalls.
While carpentry remained his primary trade, Peter saw new opportunities in agribusiness. In 2012, he received training in fish farming and decided to diversify his business. This pivotal decision led to the establishment of multiple enterprises. Today, Peter manages a diverse portfolio, including:
- A Rice Milling Factory
- An Oil Mill
- A Piggery
- A Sachet Water Factory
- A 50-acre Palm Plantation
Recognizing his potential, REP continued to support him. In 2020, after assessing his pig farm, the programme encouraged him to expand and improve the quality of his livestock. To facilitate this, REP provided him with a grant of GHC 12,000, which he used to purchase modern equipment to boost productivity.
“The support from REP has been phenomenal. Beyond financial aid, they have given me the expertise and guidance I needed to grow. Through the knowledge I gained, I even secured a Chinese project that took me to China to study microcredit,” Peter shares.
Creating Jobs and Strengthening Communities
Peter’s businesses have not only transformed his life but have also significantly impacted his community. Today, he employs 10 full-time workers and several casual laborers who support his farm and factory operations. By creating jobs, he has empowered many young people and improved local livelihoods.
“REP has also supported my palm oil business, helping me acquire machinery and providing opportunities for my family members, including my disabled niece, to earn a living. In 2020, they provided me with a grant and a borehole, which has been instrumental in expanding my business,” he adds.
Beyond business expansion, Peter has made it his mission to give back to his community. He has organized training programs for young entrepreneurs, equipping them with skills and financial support to start their own businesses. His contributions extend to infrastructure development as well.
“My community has benefited immensely from my partnership with REP. I built a market for the town, although initially, the chiefs were skeptical about how I secured the funds. Additionally, I have tackled electricity issues using my rice mill and provided a polytank to improve water access on my farms,” Peter proudly states.
From Small Business to Thriving Enterprise
With REP’s support, Peter has transitioned from running a microbusiness to managing a medium-sized enterprise. The skills he has acquired over the years have enabled him to make informed financial decisions, expand his operations, and diversify his income sources.
“I’ve learned to use money wisely, treating it as a raw material for business growth. This expertise has helped me scale my business, venture into multiple sectors, and secure a sustainable livelihood,” he notes.
His journey illustrates how targeted support can empower rural entrepreneurs to create sustainable businesses that uplift entire communities. In addition to managing his enterprises, Peter has also become a sought-after consultant, offering guidance to aspiring business owners.
A Model for Rural Economic Growth
Peter Afreh Asamoah’s story exemplifies the transformative impact of rural enterprise development. His success demonstrates how access to training, financial support, and mentorship can unlock the potential of rural entrepreneurs. Through his work, he has not only built a thriving business empire but has also played a crucial role in community development, youth empowerment, and job creation.
His journey aligns with the mission of REP and IFAD’s commitment to rural economic growth. By investing in entrepreneurs like Peter, IFAD and REP continue to drive sustainable development, reduce poverty, and create opportunities for rural populations.
Peter’s inspiring story serves as a beacon of hope for aspiring entrepreneurs, proving that with the right support and determination, one can overcome obstacles and build a prosperous future.
