The Minister for Business Development has underscored that in the next four years to come the government will provide five hundred thousand jobs to the teeming unemployed youth using the National Entrepreneurship Innovation Plan.
The sector Minister made this disclosure at a training programme for business start-up by National Entrepreneurship and Innovation Plan (NEIP) in collaboration with China Europe Business School (CEIBS) in Accra.
The NEIP is expected to train over seven thousand owners of start-ups to indigenous entrepreneurs across the country.
He said it is the vision of the resident Nana Addo Dankwa Akufo-Addo to build the most business-friendly and people –friendly economy in Africa to create jobs and prosperity for all.
He said the overall objectives of the president’s vision is to create opportunities and inspire a lot more of the youth to start new businesses, encourage existing businesses to invest , grow and expand.
This is to be achieved through the implementation of policies that will promote the growth and development of entrepreneurship opportunities for the teeming youth in the country and create jobs to enhance their livelihoods he added.
The president in demonstrating his commitment launched the NEIP which being implemented by the Ministry with seed money of one hundred million Dollars to support indigenous Ghanaian entrepreneurs he explained.
NEIP, together with its Private Sector Implementation Partner; African SME Organization and CEIBS has set up job incubation centre to mentor small businesses start-ups in the country he said
He added that the partners have been charged with the mandate to develop sustainable new business across the country to address the barriers to growth faced by existing Small and Medium Enterprises(SMEs) through the provision of finance.
A world Bank report dated 2015 indicate that the formal SME sector alone contributes over 60 percent of the total workforce and up to 40 percent of Gross Domestic Product in emerging economies like Asia and Sub-Saharan Africa adding that this remain an important driver in the nation’s growth.
Yaw Asamoah, the Chief Executive Officer of African SME said the first job station has been created at CEIBS and twenty –five similar centres will be provided across the regions to help groom entrepreneurs.
He said all businesses passing through the job incubation centre will be trained for three months and given seed funds to enable them grow.