Business News of 2014-04-17

Mahama offers GHc10m for youth to start SMEs

President John Dramani Mahama has made available GH¢10 million as seed money for youth who are ready to set up small- and medium-scale enterprises, a presidential staffer has said.

Kojo Adu Asare, who is in charge of Youth Enterprise Development at the presidency, added that more sources of funding are being searched for the youth to enable them start up their businesses.

Mr. Adu Asare made this known to TV3 on the sideline of the launch of the Ghana SME 100 Ranking in Accra.

The ranking seeks to identify Ghana’s Top 100 SMEs that impact on local businesses. It is aimed at motivating entrepreneurs and marketing Ghana’s SMEs to global investors.

Making President Mahama’s intentions known, the former Member of Parliament for Adenta Constituency said the president’s offer will be judiciously utilized.

“We still have other sources that we are looking at accessing to add as and when we exhaust the [president’s] seed money,” he said.

This offer comes in the wake of President Mahama’s call on March 6 for all Ghanaians to patronize ‘Made in Ghana’ products