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Business News of Wednesday, 19 June 2019


Government to train 12,000 young people for start-ups - Minister

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Business Development Minister, Dr. Ibrahim Mohammed Awal has hinted that the Akufo-Addo-led government will from next week train about 12,000 young people for start-ups and businesses to improve the microeconomic stability of the country.

Explaining the rationale behind it, the Minister indicated that government plans to make Ghana the manufacturing hub of West Africa and this will be achieved if the youth is given the opportunity to set up their own businesses with a push from government.

Speaking at the 3rd edition of the China Trade Week Ghana, Dr. Mohammed Awal said GH¢50 million would be spent on the project spanning over a month or two.

He further revealed that the money given to the young entrepreneurs will have low interest rates in order for them to have ample time to prepare and raise their businesses before the Continental Free Trade Area begins in Africa.

“The last pillar of our government is entrepreneurship. The Ministry of Business Development will from next week train 12, 000 young people start-ups and businesses. We’re going to spend GHC50m next month with over the next two months to train young people on start-ups and businesses to prepare them for the continental free trade area that is coming to take place in Africa”.

“Africa has a population of 1.2bn under the continental free trade area with a net trade business of 3 trillion per annum, the only way we can tap into this is to train our young people to prepare. That’s why we’re going to train 12,000 young people and then give them money, very low interest rates so that they can prepare and raise our businesses”, he added.

Dr. Mohammed Awal challenged the Chinese Ambassador to Ghana, Shi Ting Wang to help make Ghana the number one business trade partner for Chine.

According to him, “Please help make Ghana number one business trade partner. The way we can do it is to make Ghana the manufacturing hub in West Africa. Ghana is very stable, very very conducive for microeconomic environment, and the business between Ghana and China will improve”.

The 3rd edition of the China Trade Week Ghana has opened as exhibitors from China and across the globe are showcasing their products at the Accra International Conference Centre.

The exhibition which begins Wednesday 19th June and ends Friday June 21 is showcasing more variety and high-end Chinese manufacturers looking to develop long term relations with local buyers across Ghana.

The companies cover industry sectors such as chemicals, food and beverages, construction materials, outdoor goods, daily necessities, furniture, home electrical and electronics, clothing and textiles and many more.

China Trade Week Ghana seeks more to engage the professional buyers in retail, wholesale, distribution, and import and export as well as entrepreneurs who have been thinking about starting trade relations with China.

The event has already recorded successes in Kenya, Ethiopia, the United Arab Emirates, South Africa and Morocco.

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