Kofi Ofosu Nkansah presenting a dummy cheque to one of the beneficiary
The CEO of the National Entrepreneurship and Innovation Programme-NEIP, Kofi Ofosu Nkansah has indicated that his outfit will monitor every penny of $200,000 support fund given to beneficiaries of the Hubs Acceleration Grant Programme -HAGP under the Ghana Economic Transformation Project-GETP.
He said the Hubs Acceleration Grant Programme which seeks to support entrepreneurship and MSME growth in non-resource-based sectors when disbursed to beneficiaries will be strictly monitored by the NEIP team and its supporting partners to ensure compliance and judicious use of funds for the intended purposes.
“Although this is a grant and you don’t have to pay it back, you will be required to account for how the grant was used after it has been disbursed. To ensure that grants are used for the intended purposes, the NEIP will monitor and track key milestones for businesses,” he said.
Mr. Ofosu Nkansah, made this known at the contract signing ceremony of the NEIP Hub Acceleration Grant programme in Accra.
He also assured startups that were not shortlisted for the HAG programme of government continuous support to SME development.
The Senior Private Sector Specialist, World Bank, Farrah Dib, disclosed that her outfit has been working with the government and NEIP over the last few years on the Ghana Economic Transformation Project, which is supporting the entrepreneurship ecosystem in the country, among other initiatives.
She believes that entrepreneurship is a powerful pathway for economic growth, especially for Ghana’s vibrant youth.
“For entrepreneurs to thrive, it is imperative to have a thriving ecosystem that supports them both technically and financially”, Farrah Dip advised.
At the end of the signing, NEIP awarded grants to the beneficiaries which include, The Grassroots Hub located in the Ahafo Region, $180,000, Danys ISO in the Upper East Region, $150,000, Tech Farm in the Eastern Region, $100,000 and Fab Hub, $100,000.
BY Prince Fiifi Yorke