Raphael Awuku, Alumni
- Private Equity/Microfinance
2012 M.Fin., Sloan School of Management
“Our initial success in transforming a loss-making microfinance institution into a profit-making one through process re-engineering and prudent risk management… gave me the conviction that we can convert our charity into a profitable and sustainable business venture in Ghana and the West African region.”
Building from a non-profit consulting firm he started with coworkers from Pricewaterhouse Coopers and other Big Four audit companies, Raphael’s project combines the activities of a micro-finance organization and a boutique business consultancy, creating a private equity firm specializing in providing capital and business advisory services to micro-, small- and medium-scale enterprises (MSMEs) in Ghana. By incorporating more detailed management involvement with client businesses, this project promises to reduce the incidence of bad debts currently plaguing micro-finance institutions, convert loans into equity, and thereby help small businesses grow and become more sustainable.
In November 2007, moved by discussions he had with friends at a future leaders' seminar on Ghana’s progress in achieving the Millennium Development Goals, Raphael co-founded Alpha Beta Solutions, a boutique consultancy that offers free business advisory services to MSMEs, which form the foundation of the Ghanaian economy. In addition to his work within economies characterized by MSMEs in his four years as a Senior Associate with Pricewaterhouse Coopers, Raphael has considerable experience in appraising and improving client business systems, a skill he will hone further as he attains his Masters in Finance from the MIT Sloan School of Management.