Business News of 2014-04-11

Rural Enterprises Programme gets $76m support

The Ministry of Trade and Industry has secured $76 million to support the Rural Enterprise Programme (REP).

The sector Minister, Mr Haruna Iddrisu, who announced this at a workshop on the REP’s framework in Kumasi, explained that the amount was secured from the African Development Bank (AfDB).

With such a funding, he said, the way had been cleared for the commencement of effective and sustainable work towards improving rural livelihoods and rural income without any hindrance.

Mr Iddrisu urged Ghanaians, especially those in rural communities, to take advantage of the fund to start their own enterprises.

He urged the youth to start their own businesses with such funding, instead of seeking non-existent employment avenues in the public sector.

He, therefore, called on the mangers of programmes such as the REP to identify enterprising people and provide them with support to be successful indigenous entrepreneurs.

Mr Iddrisu expressed worry that Ghana was currently importing food to the tune of GH¢1.3 billion, a situation which he described as contributing immensely to the weakening of the local currency against the major international media of exchanges.

The minister disabused the minds of the people that because Kumasi was not the strong hold of the National Democratic Congress (NDC), business men from such areas would not be supported by the government.

He threw an open challenge to entrepreneurs with viable export business plans in the region to pick up forms at the Export Development and Investment Fund (EDIF) secretariat to enable them to have access to government’s support to grow their businesses.

Source: graphic.com
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