The government has rolled out the Presidential Business Support Programme (PBSP) under the Business Development Ministry to support prospective small-scale enterprises.
So far, 20 out of 260 selected beneficiaries in the three regions of the north have received cheques of 20,000 and 40,000 cedis following the official launch in Tamale.
The Vice President, Alhaji Dr. Mahamudu Bawumia inaugurated the PBSP which aims at assisting Ghanaian entrepreneurs with business advisory services.
He said it was a move in the fulfillment a promise by President Nana Addo Dankwah Akuffo Addo’s administration to make the private sector the engine of national economic growth.
“Government will continue to support small businesses which constitute 80% of all businesses in the country and become competitive in order to contribute to the country’s socio-economic development.”
Dr. Mahamudu Bawumia emphasized that: “The private sector is at the heart of government’s transformative agenda. The Akufo Addo administration is committed to building the capacity of Ghanaian entrepreneurs to play a leading role in transforming the economy through this intervention.”
“These businesses are expected to expand in a year and create employment for some 2,000 unemployed youth and other indirect jobs.”
The Vice President commended the Business Development Minister, Dr. Alhaji Ibrahim Mohammed Awal for his exemplary leadership.
“Through the Ministry of Business Development and the indefatigable Minister, Dr. Ibrahim Mohammed Awal, government has made it a priority to create a favourable atmosphere to enable the private sector including startups to flourish.”
“In addition, we are working on the fundamentals of the economy to stimulate the needed investment for significant expansion and growth of the national economy and generation of wealth and jobs.”
“This is why we believe that in creating a business-friendly climate we have to make sure that the macroeconomic fundamentals are in place.”
The Business Development Minister, Dr. Ibrahim Mohammed Awal urged the nation’s young entrepreneurs to be more innovative.
“I want to let all young people here to know that the government is committed to supporting businesses. Our ministry’s doors are widely opened. Ghana cannot go beyond aid if we don’t have young people who are well educated and who have entrepreneurial skills.”
He said another programme to support women would soon be launched to eradicate poverty in rural communities.
The Spiritual leader and Chief Imam of the Shia community in Ghana, Sheikh Alhaji Abdul Mumin Dalhu, commended the government for taking steps to support the nation’s youth to become successful entrepreneurs.
He lauded the Business Ministry’s initiatives intended to augment the local economy.
“Youth Entrepreneurship will play a vital role in creating job opportunities and therefore better lives among our vibrant youth.”
“This couldn’t have come at anytime better than now. Certainly, it will be a bedrock of the President’s resolve to building Ghana beyond aid.”
The Presidential Business Support Programme is among several initiatives rolled out by the Ministry of Business Development to strengthen the private sector.
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By: Abdul Karim Naatogmah/citinewsroom.com/Ghana
The post Government assists small-scale businesses with startup capital appeared first on Citi Newsroom.
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