Govt to offer support to 3,000 young entrepreneurs in next three years

The government will in the next three years provide funding for 3,000 young entrepreneurs, the Minister of Business Development, Ibrahim Mohammed Awal has said.

He explained that for this year, each beneficiary would receive between GH¢10,000 and GH¢100,000 at an interest rate of 10 per cent and recur over the next two years.

The Minister made the statement at the launch of the maiden edition of the Graphic Business Sense Competition, an inter-tertiary business school quiz organised by the Graphic Communications Group Limited (GCGL), in Accra yesterday.

Dr Awal explained that government was scaling up from supporting 1,350 entrepreneurs last year to 3,000 in the next three years to grow and expand their business as well as provide employment.

The Minister said there was the need to support young entrepreneurs as the public sector could not absorb all graduates.

He commended GCGL for the initiative saying it would inculcate entrepreneurial skills into the students.

The Managing Director of GCGL, Mr Benjamin Ato Afful, said the initiative which was designed by Graphic Business, a subsidiary of GCGL, would broaden its audience and interact with the business community.

He said there was the need to deepen engagement with its audience and refocus as technology was disrupting the traditional media.

Mr Afful said the competition would help build business capacity of the students, adding that Graphic Business would provide the relevant information to support them.

Presenting an overview of the business sense competition the Director of Sales and Marketing, Mr Franklin Sowa, said the competition would be on the theme “Developing business minds- The hot seat.”

He said the competition would be among private and public schools which included University of Ghana, University of Development Studies, Wisconsin University College, Radford University amongst others.

Mr Sowa explained that the competition would be based on accounting, management, practical calculation, problem of the day, riddles amongst others.

He said the competition would start from February 18 to 22.

BY ALLIA NOSHIE AND DAVID TAKYI

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