Ministry of Business Development to invest in young entrepreneurs

March 13, 2020 / Comments (0)


The Ministry of Business Development (MBD) will provide training to 15,000 young entrepreneurs and give another 3,000 young people access to funding of between GH¢10, 000 to GH¢100,000 per person to grow their businesses. This is aimed at creating more job opportunities for young, dynamic, yet unemployed persons in the region.

This was made known by Dr. Ibrahim Awal Mohammed, Minister for Business Development, at a media briefing held in Tamale, during a week-long series of activities, which form part of the Ministry’s quarterly stakeholder engagement, where relevant government policies and interventions are presented and discussed.

“We spent GH¢6,000,000 in 2019 on 700 businesses in northern Ghana and 2018 was about half of that [figure] and in all we have about 2,000 young entrepreneurs, who in the last three years have benefitted from the GH¢10, 000,000 support available through the Presidential National Entrepreneurs and Innovation Programme (NEIP)” he said.

He noted that the ministry has created about 96,000 jobs across the country in the various sectors to alleviate poverty.

He stated that in the last three years, the government has built the foundation for accelerated socio-economic development, which has helped to stabilize the economy.

“We have been able to stabilize the macroeconomic environment, with the Gross Domestic Growth(GDP) digit being about 7 percent up from 3.45 percent in 2016, while inflation is down to 7.7 percent from about 15.6 percent in 2016. He stressed that the next level is to move from stabilization to growth, which the government is focused on.

He reiterated the commitment of government and the ministry to ensure total reduction of unemployment in the country.

Also speaking during the engagement, Prince Imoro Andani, Board Chairman for the Ghana Integrated Iron Steel Development Corporation (GIISDC) indicated that there are more programmes being initiated to achieve economic growth and therefore urged the youth to take advantage of them. He further called for a dedicated national agenda devoid of political biases.

Source: B&FT Online

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