Vice President Dr. Bawumia with a beneficiary
The Vice President Dr Mahamudu Bawumia has presented cheques for between GH¢10,000 to GH¢100,000 to 250 selected businesses in the Northern, Upper East and Upper West Regions under the Presidential Business Support Programme.
The Presidential Business Support programme is an initiative of the government to provide financial support to startups and young businesses to facilitate private sector growth and job creation.
The young businesses and startups are expected to repay the monies with 10 percent interest.
According to the Vice President, having received financial support, the 250 business would create over 2,000 jobs in the three regions of the north in a year to absorb most of the unemployed youth, reduce poverty and migration from the north to the South.
The Vice President said although the economic indicators of the economy are relatively strong and firm, government is working around the clock to further strengthen it to generate wealth and create more jobs.
Selected businesses that have successfully undergone training in other parts of the country would be presented with their monies soon.
The Vice President entreated the beneficiaries to use the money wisely and not to allow setbacks to prevent them from pursuing their goals.
Meanwhile, Minister for Business Development, Mohammed Awal, has revealed that later this year, government would launch another business initiative, which would provide financial support to businesses belonging to women in the three Northern Regions and the country at large.
He urged businesses and entrepreneurs to take advantage of government’s initiatives and interventions to expand their businesses.
From Eric Kombat, Tamale