Government is deploying innovative ways to create more jobs for the teeming youth of the country by creating the next generation of entrepreneurs for a sustained economic development.
Some of the ways this government is doing this is through the implementation of the Presidential entrepreneurial initiatives and business development activities being undertaken by the Ministry of Business Development.
This is according to the Minister for Business Development, Dr. Ibrahim Awal Mohammed who made this known at the Meet the Press series organized by the Ministry of Information on Tuesday.
He indicated that his Ministry has so far trained over 19,000 youth in the country under the Presidential Business Support initiative where the youth have been equipped with entrepreneurial skills to create jobs for themselves and for others.
This Ministry is empowering the youth with entrepreneurial skills through a well-structured training programme and the injection of the needed financial support to propel their business ideas into successful businesses.
The training which is focused on areas such as the sourcing of funding; marketing; accounting; book keeping; and leveraging on international financial sources, is meant to build the capacity of the youth to run, manage and own businesses.
According to the Minister, some 7,000 people were trained in 2018 and out of that, some 4,000 direct jobs have been created. While in this year alone, some 12,000 people have already undergone training with an unspecified amount of jobs created.
“Out of the 7,000 people trained last year, 1,350 of them were given funds ranging between 10,000 and 100,000 Ghana Cedis each. This amount was meant to help them to start businesses or to scale up. And today we can announce that out of this 1,350 people that we supported, over 4,000 jobs have been created.” He said.
The Minister also indicated that, out of the 12,000 people that have been trained this year, the Ministry intends to support 3,000 young men and women with funding ranging from 10,000 and 100,000 Ghana Cedis at an interest rate of 10 percent.
He indicated that the government has already spent some 100 Million Cedis on the training exercise and the Ministry has envisaged to train more people in order to create more jobs for the teaming youth in the country.
Dr. Ibrahim Awal told the media that the initiatives being pursued by the Ministry of Business Development to empower the citizenry with entrepreneurial skills is line with the Ministry’s vision to create over 120,000 jobs within five years.
The Minister said another initiative known as the ‘Presidential Pitch’ meant to encourage young people between 18 and 35 years to develop and implement their business ideas, has also been making the desired impact.
He said, “Last year we supported 20 people and 10 of them got money. A minimum of 20,000 and a maximum of 60,000 Ghana Cedis and the President donated a personal 25,000 Ghana Cedis to the winners. This year, the winners who were from the KNUST got 60,000 Ghana Cedis and the President personally donated an additional 40,000 Ghana Cedis to them.”
According to Dr. Awal, the winners of the Presidential Pitch for this year are going to produce sanitary pads from banana leaves. The most refreshing thing for government is that they are going to source all the raw materials from the country in order to produce the sanitary pads at a cheaper rate of 3 Ghana Cedis for a pack of 10 pads instead of 5 Ghana Cedis for a pack of 8 pads imported.
Other initiatives being pursued by the Ministry include Green Business; Students Entrepreneurship Initiative; Empowerment of Women in Enterprise; Support for 1,000 Women Entrepreneurs with Disability in Ghana; and linking Ghanaian entrepreneurs to the World Angel Investment Forum in Ghana.
Source: Clement Akoloh||africanewsradio.com