Ghanaian entrepreneurs are set to receive major boost as the National Entrepreneurship and Innovation Programmme and the National Board for Small Scale Industries work towards accessing a $200 million grant for entrepreneurs and small medium enterprises (SME’s).
A Ghanaian delegation led by Mr. John Kumah, Chief Executive Officer of the National Entrepreneurship and Innovation Plan and Madam Kosi Yankey, Chief Executive Officer of National Board for Small Scale Industries attended a n impact evaluation workshop in Athens, Greece organized by the World Bank.
The Ghanaian delegation made a case to the World Bank on the need to support Entrepreneurs and Small Medium Scale Enterprises in Ghana with the needed funding to ensure that start-ups get the needed interventions to scale up and to employ more people.
According to Mr. John Kumah, starts up are faced with barriers like access to capital, low managerial skills, access to local and international market making it difficult for them to scale and to ensure productivity.
“This grant when accessed will contribute towards overcoming some of the barriers that stifles the work of entrepreneurs and small medium enterprises in Ghana. Over 400 entrepreneurs and small medium enterprises will receive training and also groups and individual consulting support which will enhance their management capabilities and personnel development skiils. We will also provide funding to 200 entrepreneurs and SME’s through this fund and also improve the capacities of entrepreneurship hubs across the country.
Mr. John Kumah also added that through this grant more jobs will be created as selected beneficiaries will be able to employ more people.