The government is planning to introduce a policy guideline on entrepreneurship, Minister of Business Development, Dr Ibrahim Mohammed Awal, has revealed.
At a press meeting on Tuesday, 13 August 2019, the minister stated that: “The overall goal of the policy is to support economic growth through the development of entrepreneurship and innovative programmes that create more jobs, generate more income, and help to reduce poverty”.
He said the policy also aims to create and strengthen an entrepreneurial environment.
Meanwhile, Dr Awal has said his ministry has spearheaded about 4,750 jobs created under the ‘Capacity-Building for Young Entrepreneurs and Start-ups’ programme.
The minister said this was achieved through various initiatives and key interventions instituted by his ministry to improve the entrepreneurial capacity of Ghanaians, particularly the youth, in order to create jobs and wealth.
Dr Awal noted that some of the interventions include the Presidential Business Support Programme (PBSP) which has provided structured entrepreneurship and business development training for young entrepreneurs.
Consequently, 7,000 young entrepreneurs were trained under the PBSP with 1,350 receiving funding in 2017.
Dr Awal said under the second phase of the PBSP, 12,000 applicants received training and additional technical support, mentorship and business advisory services.
He added that 3,000 out of the 12,000 trainees will receive seed capital of between GHS10,000 and GHS100,000 per applicant with 10% interest per annum.
He also stated that 2,000 entrepreneurs across the country have been provided with entrepreneurship training under the Young Entrepreneurs Programme.
Other programmes by the Ministry of Business Development include green businesses, building entrepreneurship culture amongst the youth (SEI), the Presidential Pitch as well as capacity building and funding for women entrepreneurs & women entrepreneurs with disability.
The minister said the ministry hopes to create micro-enterprises in all the 16 regions to support young entrepreneurs and also train 2,000 head porters (kayayei) to improve their business skills.
They also plan to roll out a programme to build the capacity of Metropolitan, Municipal and District Chief Executives (MMDCEs) and other stakeholders to support business development activities in their districts.
Also, among the list of activities to be undertaken is the encouragement of the use of domestic domes for agriculture throughout the country.