The Vice President of the Republic of Ghana, Dr. Mahmudu Bawumia, has urged students in the second cycle institutions to develop the spirit of entrepreneurship in order to eliminate the high rate of graduate unemployment in the country.
To help address the situation of graduate unemployment, he stressed that the current Government under the leadership of His Excellency Nana Addo Dankwa Akuffo Addo is ready and committed to equip entrepreneurs with the necessary supports in order to help them realize their potential as well as contribute their quota to the development of the nation.
The Vice President made this pronouncement at the launch of the School Entrepreneurship Initiative (SEI) at the Ghana Secondary School Tamale, on Friday 14th of September, 2018.
The SEI is an initiative of the Ministry of Business Development.
This initiative is in line with the President’s commitment to create an entrepreneurial spirit that engenders job creation and improvement in livelihoods.
Dr. Bawumia, further stated that, if teenagers are introduced to thinking about business concepts and the management structure of businesses, this may inculcate the spirit of entrepreneurship in them and may be actulaised while at the tertiary level.
“The tendency that these ‘STUPRENEURS’ (student entrepreneurs) will leave University and other tertiary institutions with high sense of business awareness and confidence would help in a large measure to increase rate of business formation in the country”, he added.
Vice President Bawumia was optimistic that the initiative by the Ministry of Business Development under the able leadership of the Minister, Dr. Ibrahim Mohammed Awal, would produce the next crop of Ghanaian entrepreneurs.
He however encouraged students to embrace and take advantage of the idea to come up with Business ideas and be assured of Government’s support in making their dreams of being entrepreneurs come to a reality.
The Minister for Business Development, Dr. Ibrahim Mohammed Awal, on his part urged students to make good use and take advantage of the Programs of his Ministry to develop their entrepreneurship skills.
According to him, when students are exposed to business concepts and plans at an early age, there is a tendency for them to think entrepreneurial and begin to develop projects and services while in school.
“SEI has been designed to make you grow, what matters in life is your passion and willingness to succeed. We aim to help you on this journey and hope that in a few years, Ghana can also boast of world renowned entrepreneurs. Government is ready to support once you develop an idea”, Dr. Awal indicated.
Second Cycle institutions will be encouraged and assisted to form entrepreneurial clubs with the active collaboration of the Ministry of Education and the Ghana Education Service.
The Entrepreneurial clubs will be trained by selected hubs that are already working with the Ministry of Business Development and the National Entrepreneurship and Innovation Plan (NEIP).
To generate excitement among Senior High Schools, the SEI will roll out a business plan competition that will set out what businesses the entrepreneurial clubs wants to pursue.
The grand finale of the Business Plan Competition will be held in Accra early next year where students of various schools will present their ideas to a special jury. Winners of the business plan competition will then moved around the world to experience the audacity of entrepreneurship and to understand the real world of business. This will constitute a world series of visiting places like Silicon Valley in the USA and Tech City of London.
In a related development, Two Hundred and Sixty (260) beneficiaries across the 3 Northern Regions of Ghana received funding as part of the Presidential Business Support Program (PBSP).
Training and capacity building, mentorship and business advisory services, free accounting services, and access to business and networking will also be made available to the beneficiaries. This aspect of the program falls part of an initiative of the National Entrepreneurship and Innovation Plan (NEIP) under the Ministry of Business Development. This event took place at the Radach Lodge and Conference Centre in Tamale on Friday, 14 September, 2018.
Speaking at the event the Vice President of the Republic, Dr. Mahmudu Bawumia indicated that, job creations is critical to the fundamental growth of Ghana’s development and it is the vision and primary objective of President Nana Addo Dankwa Akuffo Addo to make the nation business friendly in Africa.
He further stated that, over the past years the private sector has been considered to be the engine of economic growth and it is encouraged to partner with Government to create job opportunities for the teeming youth.
“The Government strongly believes that the private sector is key and the main driver of our economical development agenda and therefore it is committed to the development of the private sector in Ghana”, Vice President Dr. Bawumia hinted.
He reiterated that through the Ministry of Business Development, Government has made it a priority to create a favorable atmosphere to enable private sector including startups to flourish.
Dr. Ibrahim Mohammed Awal, the Minister of Business Development, emphasized the need for entrepreneurs to be innovative in order to compete and meet the international demands.
He said, the nation cannot achieve the Ghana beyond Aid Agenda if it lacks young people who are not well equipped and educated with entrepreneurial skills.
“Please take advantage of the Presidential Business Support Program and approach Ministry of Business Development so that we support you with funding to make your ideas successful”, Dr. Awal concluded.
The 260 beneficiaries were awarded with funding from GH 10,000 to 100,000 under the Presidential Business Support Program an initiative of the National Entrepreneurship and Innovation Plan (NEIP).
Chiefs, MMDCEs, Imam and prominent leaders graced the occasion.