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Akufo-Addo awards 3,000 startups with GHC30m capital

President Nana Addo Dankwa Akufo-Addo has awarded a GHC30 million funding package to a total of 3000 entrepreneurs selected from across the 16 regions of Ghana to help scale-up their businesses.

The beneficiaries were selected from among 19,000 young entrepreneurs who have received training to build their capacity in the second window of the Presidential Business Support Programme (PBSP).

According to beneficiaries received amounts ranging from GH¢10,000 to a GH¢100,000 at an interest rate of 10% and are expected to make full repayment of the facility within a 3-year period.

In the first window of the programme, 1,350 entrepreneurs received similar support bringing the total number of entrepreneurs who have received funding under the programme to 4,350.

The Presidential Business Support Programme launched in July 2017 is an initiative of the National Entrepreneurship and Innovation Plan (NEIP) under the Ministry of Business Development aimed at assisting Ghanaian businesses with Business Advisory Services and funding to scale up and to create jobs.

The President said the initiative for nurturing young businesses to enable them grow and compete favourably on the global stage, falls within the broader context of Ghana’s long-term strategic vision of consolidating its middle-income status.

He added that with a youthful population with about 60 % of the population being below 30 years, it was imperative that the government focuses on building the capacity of young people to become competitive.


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