Ghana government budgets $10m to support entrepreneurship – Minister

Ibrahim Awal, Minister for Business Development, says the government as part of its initiative to support the private sector had budgeted $10 million to support young entrepreneurs.

 He said the Ministry was also working on loans and grants for these entrepreneurs at low rates.

The Minister said this when he launched the Ahoom Retail Centre at La-Palmwine Junction in Accra on Friday.

Mr Awal said creating an atmosphere that was conducive to the growth of the private sector was one of government’s key aims of solving the problem of unemployment in the country. 

He said despite the challenges in entrepreneurship, one could also encounter great opportunities.

Mr Awal urged young entrepreneurs to brave the difficulties of their field by being daring and passionate about what they did.

“Show more passion and confidence, and government would support you,” he said.

Mr. Gregory Kankoh, Chief Executive officer of Group Nallem STM, parent company of Ahoom, said the Ahoom Retail Centre, was to serve as a sales point for on and off line African products such as clothing, wood carving and food, as well as skin products, among others.

“Ahoom is a shopping mall for African products, be it clothing, skin care products, food, etc,” he said.

Mr. Kankoh said the idea was to ease the difficulty that local entrepreneurs faced in marketing their products. 

He urged the government to support local artisans, because these artisans were naturally gifted people, who only needed a little support to contribute to the socio-economic growth of the country.

Mr. Kankoh said there was the need to have systems that supported the growth of entrepreneurial initiatives, adding that these initiatives held solution to the country’s high rate of unemployment.

Ms Gifty Klenam, Chief Executive Officer of the Ghana Export Promotion Authority (GEPA), said in a speech read on her behalf, acknowledged the fact that Ahoom had come at a point when the global market was fast rising.

The GEPA boss said she was well aware that the products sold at Ahoom were of good quality.

Ms Kleman said since Ahoom was an online outlet to sell quality products, it would help consumers to save time, fuel and also give them the opportunity to compare prizes with much more ease.

She urged Ahoom to register with GEPA, in order to enhance their credibility, because with online buying, consumers looked for accredited sources.

Mr. Dominic Sam, UNDP Country Director to Ghana, said currently, doing business was no longer as it used to be.

“You need to be dedicated, hardworking and well-motivated to succeed,” he said.

Mr. Sam urged the leadership of Ahoom to believe in themselves and be strong, in order to succeed in a highly competitive business environment.

Source: GNA