Minister of Business Development Mohammed Awal revealed plans that the government of Ghana would set aside at least $100 million to finance young entrepreneurs and startups as they look to support their dreams and create space for the next generation.
The West African country like many other countries around the world faces a high rate of unemployment among the youth and seeks to address the issue through financial inclusion for the entrepreneurs.
“There’s money in Ghana we just have to redirect the spending. We are closing the gaps to mobilise these funds and, we will invest them. Goodwill is there for Ghana to grow,“ the government official admitted.
The Head of State Nana Akufo-Addo has led the Parliament in addressing the issue, having financially invested towards the same.
Mr Awal has encouraged entrepreneurs to identify new business opportunities and take advantage of the government to assist in the creation of employment.
The government launched the National Entrepreneurship Programme (NEP), an initiative aimed at creating the conducive and business-friendly environment to stimulate enterprise activities and provide integrated national support for start-ups and small businesses that would, in turn, generate employment for the teeming youth of Ghana.
“I am determined that we change the economic conditions in our country for the better, to ensure that young people see it as a place of opportunities, instead of the place from which they flee at the peril of their lives. We need to do all within our power to create an entrepreneurial climate, to enable our young people to come up with creative ideas that can be developed into businesses,” the President said during the launch of the programme in Accra in 2017.
The lack of jobs has dampened the economic outlook of Ghana prompting the president to act on the state of the country. Foreign investors such as China have also established their businesses in the West African country, also creating employment opportunities for the Ghanaians.