Presidential Pitch 3: GH¢1m fund set aside for entrepreneurs

The third window of the Presidential Pitch is open for entrepreneurs to tap into the GH¢1million set aside as business support from the Ministry of Business Development.

The Presidential Pitch offers young entrepreneurs an opportunity to pitch their business ideas to a panel of experienced judges, out of which 10 will be selected as winners and awarded funds to support their businesses.

Speaking to the press, the Business Development Minister, Dr. Ibrahim Mohammed Awal, noted that President Akufo-Addo is determined to create an ecosystem that supports entrepreneurs to thrive and enables job creators.

He said: “In Ghana, only 2% of young people think they should be entrepreneurs because the ecosystem does not support them. But that’s why the president is restrategizing and setting up the Business Development Ministry to enable a good ecosystem to thrive”.

The minister revealed that Seasons one and two of the Presidential Pitch supported 20 entrepreneurs who created 460 jobs in return.

He noted that 250 jobs are expected to be created from the 10 jobs that will be supported in the third window.

He added that in addition to the money, the selected individuals will be given business advisory support on how to use the money in terms of marketing, branding, access to finance, and social capital to make sure that they are well prepared.

Dr. Awal advised unlettered individuals to visit the ministry for assistance, or get literate family members to assist in the application process.

According to him, what matters most is the ability to explain a business idea and how it will contribute to solving unemployment in the country.

“Whether you’ve been to school or not, once you have a good business idea and you don’t have money to implement it, just apply to the Business Development Ministry and the judges will assess its sustainability.”

Interested individuals are expected to apply via www.mobd.gov.gh.

Giving an update on winners from the first and second window, the minister noted that Aisha Limann, winner for the first window, has introduced new products and set up a factory awaiting inauguration.

He said Matilda Asantewaa Sarpong and Emily Otoo Quayeson, winners of the second window, are working assiduously with the Kwame Nkrumah University of Science and Technology to produce quality sanitary pads for commercial purposes.