NEIP to fund 5,000 young entrepreneurs with GH¢50m

The Ministry of Business Development has commenced the third face of the National Entrepreneurship and Innovation Programme (NEIP).
The programme intends to train and build the capacity of 26,000 startups and young entrepreneurs across Ghana, while funding 5,000 of them with a whopping GH¢50 million.
The Minister of Business Development, MrIbrahim Mohammad Awal, made this known at the launch of the programme yesterday in Accra.
“Window Three of the programme is beginning tomorrow, where 26,000 startups and young entrepreneurs across Ghana will build their capacity and train them in marketing and how to successfully run a business.”
The National Entrepreneurship and Innovation Programme (NEIP) came intoexistence to enable new businesses to emerge and give them the space to grow, to receive financing and business development services, secure orders during the critical formative years, and tap into a wide supply chain and network for their growth years, and help to create jobs at a widely distributed national level.
Addressing the audience, the Minister said that the President, in 2017, launched the programme in line with his commitment to provide funding and skills for young entrepreneurs and startups.
He said that Ghana has a youthful population, with about 60 percent below 30 years, and the President see this as a resource that can enhance national development and create wealth for the citizens.
The Minister indicated that the first two windows of the programme, which saw about 19,000 startups and young entrepreneurs trained, has produced 90,000 jobs, hence, the ministry’s joy at supporting more young people.
MrAwal also indicated that even before the pandemic, startups and small businesses in and outside the country were struggling, “because of their nature, they are not strong enough to build capital and therefore need capacity, the President, therefore, directed that 26,000 of them should be trained so that they can create jobs.”
He said the trainers would train these young entrepreneurs to be moreresilient, create jobs and become job owners, instead of job seekers.
“As you are aware, nearly 250,000 young people graduate from school every year, but only 2% are able to get jobs in the formal sector. The rest must find their own jobs, hence, the President’s commitment to entrepreneurship.”
The Chief Executive Officer of NEIP, Lawyer John Kumah, also spoke about the mode of selection. He indicated that there was not going to be favoritism or nepotism in the process.
He indicated that all districts in the six regions of Ghana would benefit from the programme.
He urged that anyone with a good business idea should visit his district office and apply for the programme and go through the process.

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