When Racheal Addin received a call inviting her to a bookkeeping and financial literacy training, she did not hesitate. “I was very happy when I heard about the training,” she recalls. ” I had to be there, learn, and use what I’d gain for my future.”
Like many smallholder farmers in Pokrom, Ghana’s Eastern Region, Addin worked hard to grow her business. But like many entrepreneurs, she faced a challenge that had nothing to do with farming itself. She struggled to keep track of her money. Income from the farm often blended with household expenses, making it difficult to know whether her business was truly growing. She was not alone.
Most of the 20 participants who gathered at the Hephzibah Christian Center for the Nkabom Collaborative at Ashesi's three-day Bookkeeping and Financial Literacy Training had never received formal financial management training. Some relied entirely on memory to keep track of sales and expenses. Others admitted that families frequently consumed business income before they had a chance to reinvest it. Several had experienced mobile money fraud or lacked confidence using digital financial tools.
For many, farming had always been viewed as a way to make ends meet rather than as a business that required planning, budgeting, and investment. Through demonstrations, role plays, storytelling, and discussions conducted primarily in Twi, participants learned how to separate business income from household finances. They learned to record daily transactions using simple pictorial tools, plan for seasonal income fluctuations, and build consistent saving habits. The program was designed to be accessible for participants with limited literacy and two participants living with disabilities.
One key lesson for Richard Nortey was discovering that financial discipline is not determined by how much money someone earns. The lesson reflected one of the program’s core messages: sustainable businesses are built not only on increasing income, but on developing habits that protect and grow it.
For participant Joseph Aidoo, the training shifted how he thinks about creating value from farming. Other participants described equally practical changes. Many left with their first record books and personal financial action plans. Farmers who had previously relied on memory learned to use visual record-keeping tools to monitor income and expenses, regardless of literacy level. Participants also gained confidence using mobile money services independently while learning how to identify and avoid common scams through a simple “Wait, Verify, Decide” approach.
Reflection sessions throughout the three-day program revealed a shift in mindset. Many no longer viewed farming simply as subsistence work, but as a business that deserved the same discipline, planning, and financial management as any other enterprise.
For Addin, the impact extends beyond her own farm. She is already thinking about how to multiply the impact.
“Many of my family members are farmers,” she shared. “When I go back, I will share everything I have learned with them and how they can use it.” That ripple effect reflects the broader vision of the Nkabom Collaborative at Ashesi: equipping young farmers and agribusiness entrepreneurs with practical knowledge that strengthens livelihoods, and contributes to more sustainable food systems.
By the end of the program, every participant had developed a personal action plan for improving their financial practices. Participants left believing that with the right tools, practical support, and a shift in mindset, one can transform both their business and their future.
This article was first featured on Ashesi Unviversity's website.