The 1, 350 beneficiaries of the Presidential Business Support Programme are expected to created 30, 000 jobs, Business Development Minister, Dr. Mohammed Awal Ibrahim has said.
In an interview with Kwame Tutu on Frontline on Rainbow Radio 87.5Fm, the minister said beneficiaries were selected from the ten regions of Ghana out of 7, 000 applications.
He explained that as part of the programme, the beneficiaries have been tasked to create 30, 000 direct jobs within the next year, and several thousands of indirect jobs.”
He also disclosed on the show that the first beneficiaries of the Presidential Business Support Programme, are to receive, from the Ministry of Business Development, continuous training and capacity building, mentorship and business advisory services, free accounting services, access to business and networking opportunities.
They are also expected to receive seed capital ranging from GH¢10,000 to GH¢100,000 each.
The minister said the programme, which is an idea by the president, would be an annual programme.
Government he said is projecting to increase the beneficiaries from 1, 350 to 3,000 in 2019.
The beneficiaries are expected to pay 10 percent interest on any amount received and spread the payment over 3 years.
Speaking at the event on Tuesday, 7th August, 2018, at Jubilee House, the seat of the nation’s Presidency, the President of the Republic, Nana Addo Dankwa Akufo-Addo, noted that over the past two decades, the countries that have made rapid economic strides have been the ones that have encouraged high levels of investment in entrepreneur development.
It was, thus, a happy-sad moment for the President when he learnt that seven thousand (7,000) micro, small and medium sized businesses applied for support under the Presidential Business Support Programme.
“Happy, because I was encouraged by the numbers of young Ghanaians wanting to start their own businesses. And, sad, because not all of them would be beneficiaries of this programme,” he said.