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Telecel Foundation’s Connected Health Initiatives Impacts Hundreds in Kumasi

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Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. 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Telecel Foundation’s Connected Health Initiatives Impacts Hundreds in Kumasi

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Telecel Foundation’s Connected Health Initiatives Impacts Hundreds in Kumasi

Two-year-old Richmond in the arms of his father, Kurt as he receives the care package from the Telecel Ghana Foundation team

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In celebrating Ashanti Month, the Telecel Ghana Foundation has organised two of its flagship health initiatives, Healthfest and Homecoming in Kumasi to support the healthcare and well-being of residents and communities in the region.
Healthfest

As a demonstration of healthcare support and community spirit, the telco organised Healthfest – a free medical screening event for a wide range of health checks such as blood pressure, blood sugar, malaria, hepatitis B, HIV, typhoid, weight and general health consultations in the bustling streets of K.O. Freeman in Ashtown.

A total of 483 people received free medical screening and health advice based on the outcomes of the checks. The Foundation also facilitated the registration, replacement and renewal of the National Health Insurance Scheme (NHIS) for 300 inhabitants of Kumasi.

For many residents like 53-year-old petty trader and mother of three, Naomi Antwi Agyei who couldn’t afford regular check-ups, Healthfest provided them with valuable insights into their medical conditions and how to take better care of themselves.
“I am always skeptical about health outreach programmes but attending today’s medical screening by Telecel Ghana Foundation has been very helpful. I never knew I had health conditions but now that I’m aware, I can take steps to manage them,” Mrs. Antwi Agyei said.

Healthfest was designed not only to provide immediate health checks but to also encourage people to embrace healthier lifestyles and seek treatment, if needed.
Homecoming

As Healthfest was in progress in Ashtown, about eleven kilometres in Atonsu, the Foundation was simultaneously organising Homecoming – an initiative to settle the outstanding debts of recovering patients burdened by medical expenses at the Kumasi South Hospital.

The Foundation covered the medical bills of about 15 indebted patients recovering from various health conditions including skin burns, auto accidents, surgeries, chest infections and birth complications, who were discharged to reunite with their families.

In addition, the Foundation donated medical supplies such as gloves, fetoscopes, bedsheets and toiletries to the mother and baby unit of the hospital, to equip maternal health officers in caring for expectant and nursing mothers.
“The clearing of the treatment costs of patients and donation of medical supplies will make a huge difference. This gesture has empowered the hospital to work and save the lives of patients as well as deliver quality health care to those in need,” said Dr. Gyamfi Yeboah, Administrator for Kumasi South Government Hospital.

The Connected Health initiatives of Telecel Ghana Foundation during Ashanti Month are a testament to the power of community-driven healthcare. With Homecoming, the Foundation provided direct relief to individuals facing overwhelming medical expenses, while Healthfest ensured that the broader community had access to critical health screenings and education.

Head of Foundation, Sustainability and External Communications at Telecel Ghana, Rita Agyeiwaa Rockson said “We believe that everyone deserves access to quality healthcare, regardless of their financial situation or socioeconomic background. With our Connected Health Initiatives, we are contributing to prime healthcare delivery and community health support for people and communities in Kumasi and other parts of the Ashanti Region.”

Two-year-old Richmond has both thighs bandaged as a result of hot soup pouring on his pelvic region in a kitchen accident. Recovering from the skin burns on his lower body, Richmond’s health condition is compounded by the inability of the family to pay his medical bills.

His dad, Kurt Asubonteng was grateful to the Foundation for coming to their aid. “This gesture from Telecel Foundation is a miracle for us. Although Richmond was ready to be discharged, we struggled to raise funds to clear his treatment bills. With Telecel Foundation coming to our aid, we can now go home as he heals from the burns,” Kurt said.

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