Ghana’s President Nana Akuffo-Addo is to award 1,300 entrepreneurs under the National Entrepreneurial Innovative Plan (NEIP) in order to grow businesses in the country.
The support comes in a form of a loan with a low interest of 10 percent, repayable within three years to enable the beneficiaries expand and create more businesses and will kick start on August 1, 2018.
John Kumah, Chief Executive officer, NEIP, said the Presidential Disbursement of funds was to provide financial support for individuals and businesses to expand.
According to him, “the major challenges facing the start-up of businesses is funding. It is in line with this that the government will reward 1,350 businesses with an amount of GH¢10,000.00 to GH¢100,000.00 as financial support”.
He said the disbursement was expected to be in three phases, thus, the southern, middle and northern.
The Southern disbursement would be done by President Nana Akuffo-Addo, while the middle would be done by Otumfuor Osei Tutu II, Traditional ruler of the Ashanti Kingdom and Northern disbursement by Vice President Dr Mahamudu Bawumia.
Mr Kumah indicated that over 7000 individuals and businesses had been taken through the various business hubs and training under the programme, adding that, many more would be trained after August 1.