President Akufo-Addo
President Akufo-Addo will on August 1, 2018 award 1,300 entrepreneurs under the National Entrepreneurial Innovative Plan (NEIP) to grow businesses in the country.
John Kumah, Chief Executive Officer (CEO) of NEIP, said the presidential disbursement of funds is to provide financial support for individuals and businesses to expand.
He said, “The major challenges facing start-ups is funding. It is in line with this that the government will reward 1,350 businesses with between GH¢10,000.00 and GH¢100,000.00 as financial support.”
The support, he explained, was not a grant but a loan with low interest of 10 percent, repayable within three years to enable them expand and create more businesses.
He said 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 sector would be done by Asantehene Otumfuo Osei Tutu II, and northern disbursement by Vice President Dr Mahamudu Bawumia.
Mr Kumah said over 7,000 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.
The programme is a flagship initiative of the government with the primary objective of providing an integrated national support for start-ups and small businesses.
– GNA