Home Business Use Entrepreneurship, Business And Technology To Fix Economy -Prez. Akufo-Addo

Use Entrepreneurship, Business And Technology To Fix Economy -Prez. Akufo-Addo

4 min read

By Frank Amponsah

President Nana Addo Dankwa Akufo-Addo said the fastest way to resolve the country’s economy problems is entrepreneurship, business and technology and called for attitudinal change and re-orientation towards the adoption of alternative ways to achieve a prosperous Ghana.

According to him, Ghana can effectively manage its problems of unemployment and economic instability by doing much with entrepreneurship, business and technology.

He was speaking at a ceremony where 20 Ghanaian individuals were shortlisted for a business competition dubbed ‘Presidential Pitch’ under the leadership of the Business Development Ministry.

The Presidential Pitch was opened for Ghanaians between the ages of 18 and 35 with business ideas that are feasible, innovative, scalable and impactful.

Addressing the ceremony, President Akufo-Addo indicated that Ghana cannot continue to do business in the usual path but hopes to grow its economy to create the jobs the citizens need.

He averred that considering the way the economy works, taking into account its raw materials, there is the need for a change the way we work to grow of economy, making references to Google, Amazon and other giants across the world.

He said: “We in Ghana have not done well in incubating ideas to grow global giants even though we have lots of giants and youth who are seeking opportunities. Government will bulk up the trend.”

He added that government is taking steps to create the enabling environment for business to flourish stressing that the ministry of business development is in earnest helping in that direction by making available 10million dollars to support young entrepreneurs to build their businesses.

The president revealed that about 2000 applicants were received through the ministry portal, covering areas of agro processing, tourism, sanitation, garment and transportation.

He congratulates the 20 applicants who are selected for the competition and said some of them will be attached to mentors whilst others will be stationed in business incubator hubs to develop their ideas, and receive government support of USD 50,000 each to grow their businesses.

He challenged them to create jobs and employ other people, stating that government through the NEIP program is funding some 500 people to help increase their businesses.

“Government is creating the most business friendly environment in which businesses can flourish and create jobs. There are also measures to reduce cost of doing business and improve business environment. As you are aware, there has been a reduction in tariffs, and abolitions of taxes are undertaken to stimulate enterprise activities and growth,” he said.

He also hoped that the future of Ghanaian private sector is extremely promising.

The President however made a personal donation of GHC25000 to the youngest applicant from West Sisala District, a 19-year Vannessa Liman.


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