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Politics of Wednesday, 28 November 2012

Source: GNA

Govt to set up Gh¢10m grant for graduate entrepreneurs - Prez Mahama

President Mahama has proposed the replication of the local contents clause in the oil industry in all the other sectors of the economy.

This, according to the president, will ensure that Ghanaian businessmen and citizens are giving the edge in areas where they have competitive advantage.

President Mahama also says his government when retained in power will harmonize the various social intervention programmes under one ministry to enable them serve their purpose efficiently.

The president made the remarks when he addressed students of the Kwame Nkrumah University of Science Technology (KNUST) on Tuesday night after signing the Kumasi Declaration.

President Mahama said. “It must cut across all sectors that in every sector, we must insist on a certain amount of local content. It is only when we do that that we can stimulate our local private sector and enable them to expand in order for them to employ the young graduates and other people who are coming out of the university.”

President Mahama promised that his government will set aside a 10 million cedis soft grant as a seed capital for the young entrepreneur programme which he says has the potential to employ to more jobs in the country.

“They will help you write a business plan and finance the business plan. The business plan will be submitted to a board that is responsible for disbursing the money. Once the business plan is approved, you will be given the credit line to set up the business,” the president explained.

He said a committee will supervise the running of the business until such a time when the business is strong enough to stand on its own.

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