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| Nana Addo Dankwa Akufo-Addo |
Ghana's President, Nana Addo Dankwa Akufo-Addo will today, August 7, 2018 award 1,350 entrepreneurs with an amount ranging from GHS10,000 to GHS100,000 to start and also expand their businesses under the National Entrepreneurship and Innovation plan-NEIP Business Support Programme.
The NEIP Business Support Program is an initiative by the government under the Ministry of Business Development to support unemployed Ghanaian youth through training and funding for them to be able to set up their own businesses or rather boost their existing ones.
The Presidential disbursement is the first of its kind, in recent times, that a deliberate, systematic, integrated national policy has been instituted to support early stage start-ups and small businesses.
The support is not a grant but a loan with a low interest of 10 percent, repayable within three years to enable beneficiaries to expand and create more businesses.
The NEIP Journey:
The president launched the National Entrepreneurship and Innovation Plan-NEIP, a year ago to support and develop young businesses across the country.
NEIP after the launch, called for an online application where about 7,000 entrepreneurs applied to receive funding for their businesses.
The 7,000 applicants went through vigorous training at private incubation hubs across the country who also recommended applicants for funding.
1,350 out of the 7,000 were selected to receive funding ranging from GHS10,000 to GHS100,000 across the ten regions of Ghana.
The President will today, 5:00pm at the banquet hall award the 1,350 entrepreneurs who where selected after their training.
The disbursement is expected to be in three phases; the Southern, Middle and Northern. The southern disbursement would be done by President Akufo-Addo, while the middle one would be done by the Asantehene Otumfuo Osei Tutu with the Northern disbursement to be done by the Vice President, Dr. Mahamudu Bawumia.
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