20
Tue, Nov

LET'S CREATE ENTREPRENEURIAL ECONOMY - PRESIDENT AKUFO-ADDO

Business & Economy

Creating an entrepreneurial economy should not be difficult, especially looking at how the wealth of this country was built by the private sector and the entrepreneurial spirit of the citizens, President Akufo-Addo has stated.

Creating an entrepreneurial economy should not be difficult, especially looking at how the wealth of this country was built by the private sector and the entrepreneurial spirit of the citizens, President Akufo-Addo has stated.

 

According to the President, over the past two decades, countries that have made rapid economic strides have been the ones that encouraged high levels of investment in entrepreneurial development.

“The growth of a more entrepreneurial economy has led to the creation of jobs and the acceleration of economic growth in those countries,” he said yesterday, when he awarded 1,300 entrepreneurs with cash to start and expand their businesses under the National Entrepreneurship and Innovation plan (NEIP) Business Support Programme.

President Akufo-Addo noted that Ghana was learning a lot from the current global trend by developing an entrepreneurial economy as well as create a conducive and business friendly environment.

He said, with Ghanaians known for their sense of enterprise, creativity and innovation, it was high time full attention was devoted to those instincts again.

The President said he was not happy when he learnt that over 7000 micro small and medium businesses applied for support under the NEIP business support programme because not all of them were going to be beneficiaries. He added, however, that he was happy with the enthusiasm with which thousands of young Ghanaians applied for support.

“Nonetheless, all the 7000 businesses underwent a well-structured training programme to build their managerial capacities for their various ventures,” he said.

He disclosed that business that satisfied the criteria had to meet certain criteria, including it being a Ghanaian owned business, a micro small or medium scale enterprise and also possess a sustainability or growth model, with the ability to employ others.

“The successful winners we are celebrating today were competitively selected upon the recommendations of  a private incubation house in a transparent, efficient and equitable  manner,” the President explained.

The selection process, according to President Akufo-Addo, will go a long way to guarantee the success and sustainability of the businesses, especially with the interest rate pegged at just 10%.

President Akufo-Addo congratulated the selected business for not giving up and working hard to meet the set criteria, and charged them to seize the opportunity offered by the programme to demonstrate their entrepreneurial spirit.

The NEIP Business Support Programme is an initiative by the government under the Ministry of Business Development to support unemployed Ghanaian youth through training and funding.

The President launched the National Entrepreneurship and Innovation Plan-NEIP, a year ago to support and develop young businesses across the country.


Follow Us