Ghana’s Ministry for Business Development is pushing for a legislation to make it mandatory for 30 percent of all public funded contracts to be given to local entrepreneurs especially start-ups.
Business Development Minister, Mohammed Awal revealed this during a working visit to the Accra Digital Centre and the Africa Internship Academy, where over 500 young entrepreneurs are being trained to build on their entrepreneurial skills under the National Entrepreneurship and Innovation Plan (NEIP) initiative.
“You cannot grow an economy and leave out an important group like 48 percent of the people, that is the youth. Because most of them have business ideas and businesses but they do not have the money to scale up and they don’t have collateral as well.
We are here to tell the young people that after the training we will support them start their businesses and hold their hands for the rest of their lives,” he said.
The Minister also reiterated government’s determination to eradicate the unemployment situation in the country using NEIP.
According to him, the programme is not just to provide capital for entrepreneurs but also create a network of experienced entrepreneurs who would offer free mentorship to others.
He said: “Businesses succeed when you mentor. These are people who are very young and below 40 years. They do not have the experience that some of us have so we’ve been able to talk to about 50 businesses in this country. Some are foreign and they’ve agreed to volunteer as mentors. So, when we select these 500 people, we will attach them to various industries.”