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Presidential Business Support 3rd Window:GH₵50m soft loan for 5,000 start-ups
Five thousand business startups are to benefit from a soft loan facility totaling GH₵50million under the third window of the Presidential Business Support Programme (PBSP) which opens across the country today.
The beneficiaries would be selected from 26,000 entrepreneurs from all districts whose capacity would be built in marketing and business management as part of the programme.
Launched by President Nana Addo in 2017, the PBSP is aimed at assisting Ghanaian businesses with capacity building, money and funding for young entrepreneurs and start-ups.
At the launch of the new window in Accra yesterday, Minister of Business Development, Dr Ibrahim Mohammed Awal said 19,000 startups supported under the previous windows had created 90,000 jobs.
This, he said, was a testament of the need to support the youth to be job creators instead of job seekers since only two per cent of the nearly 250,000 young people who graduate get jobs in the formal sector.
“The rest must find jobs in the private sector hence the president’s commitment to entrepreneurship to train them, equip them, fund them and build capacity so that they can create jobs and employ more people,” he said.
According to Dr Awal, the country was largely a youthful population with three per cent of the young people below 30 years and that the government was determined to use the programme as a resource to enhance national development and create wealth for the people.
On his part, John Kumah, the Chief Executive Officer (CEO) of the National Entrepreneurship and Innovation Programme (NEIP), the agency coordinating the programme, said this year’s edition had been extended from 19,000 beneficiaries to 26,000 and GH₵40million to GH₵50 million to support more people.
He said 100 beneficiaries would be selected from each of 260 districts across the country and given loans ranging between GH₵5,000 and GH₵50, 000 with 10 per cent interest.
The interest, he said, was to sustain the pool of fund and support other people as well as incorporate the culture of loan repayments to enable them approach banks for loans in the future.
This year, he said, application had been decentralised and not done exclusively online, in response to concerns raised by prospective beneficiaries in the rural areas that internet access was an impediment.
He assured all prospective applicants of a fair and selection process as private consultants would be in charge of the selection after which the Monitoring and Evaluation department of the ministry would follow up.
“It is a very fair and transparent process. I urge all to apply through their district assemblies, every Ghanaian with a business idea is qualified,” he said.
On the recovery of loans, Mr Kumah, said it was about 70 per cent but the COVID-19 had slowed down recovery rate.
BY JONATHAN DONKOR
News
University of Ghana opens maiden ‘Artify’ visual arts exhibition
The University of Ghana, in partnership with Nubuke Foundation and KGL Foundation, has launched a week-long visual arts exhibition titled ‘Artify’ on the University’s campus.
Running from November 26 to December 2, the event showcases drawings and paintings by eight visual artists selected by the University.
The artists participated in a two-week skills and business orientation training before the exhibition, where they were coached on art practice fundamentals, copyright and intellectual property, entrepreneurship, and business management.
The training was to help the artists upscale their craft and expand their client reach, equipping them to become more business-oriented art professionals.
The Artify project, under the theme Amplifying Art as a Business, was conceived by the University of Ghana’s Office of Research, Innovation, and Development (ORID).
Professor Felix Ankomah Asante, Pro Vice-Chancellor, Research, Innovation and Development, University of Ghana, said they aimed to equip them with the necessary tools and skills to thrive as artists and entrepreneurs.
“This initiative nurtures talent and fosters entrepreneurial spirit among young aspiring artists. Together, we cultivate creativity and transform passion into sustainable careers,” he said.
Prof. Asante said that the skills required to run an art business were often overlooked, as art was commonly perceived as a hobby that doesn’t necessitate specialised management skills.
He argued that by integrating business and project management skills into the art ecosystem in Ghana, more organisations and investors could be encouraged to support creatives.
Madam Odile Tevie, Director of Nubuke Foundation, called on authorities to create more platforms, similar to the Artify exhibition, where artists could showcase their work.
She advocated the establishment of visual arts spaces in communities, where local talents could receive training and be nurtured in their craft.
Mr Sedem Atsu Avornyo, one of the participating artists, praised the University and its partners for the initiative.
He noted that his knowledge and skills had been greatly enriched, better preparing him for the job market. –GNA
News
Don’t harass, visitors on period of election …Comptroller-General cautions Immigration staff
The Comptroller-General of Immigration, Mr Kwame Asuah Takyi, (Esq.), has asked personnel of the service, especially those at the various borders of the country, not to harass people who travel in and outside of the country during the election period.
The advice is to stem reports that usually characterise immigration operations in border communities in such crucial moments.
He gave the advice at the 2024 Comptroller-General’s end-of-year games held at the McDan La Town Park on Friday.
It was under the theme “Kick for unity, sports for peaceful elections.”
According to Mr Assuah Takyi, It was important for personnel of the staff to behave professionally and live by the high standards required to ensure peace and tranquility at the border towns where elections would be ongoing.
“I want to remind you of the roles and responsibilities expected from you. Don’t take advantage of the upcoming general elections to harass visitors and passengers going in and out of the country.
“Perform your duties professionally as immigration officers and, where necessary, assist other security agencies to maintain peace, law, and order before, during, and after the elections.”
“Be apolitical because your services are to Ghana first and only, and not to any individual or political party. As officers in uniform, don’t put up behaviours that would question your professionalism.”
“This is not a call on immigration staff alone. All the security agencies are poised to display high standards of professionalism to ensure that Ghanaians vote in a peaceful atmosphere,” Mr Takyi said.
Flanked by three-time African best player and former captain of the Black Stars Abedi Ayew Pele, who was the special guest of honour, the Comptroller-General stated that as officers and men in uniform, their duty to the country was to maintain peace, law, and order and not to be involved in dubious or political activities.
“If any of you want to do politics, resign and hand over your uniform to the service and go. This information should go out there to our officers across the country.”
Mr Assuah Takyi urged members of the general public to behave responsibly to make the work of the security officers simple and peaceful while cautioning potential troublemakers to have a change of mind because that would not be tolerated.
“The National Elections Security Taskforce (NESTF) met the political parties on Thursday to reaffirm our commitment to professionalism, impartiality, and adherence to the rule of law.”
“Our actions will be impartial and guided by the law, and anyone who decides to violate the laid-down laws will be made to face the law.”
Mr Asuah Takyi urged all to operate within the confines of the law to ensure a successful and trouble-free election.
By Raymond Ackumey
