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Presidential Business Support 3rd Window:GH₵50m soft loan for 5,000 start-ups
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Five thousand business startups are to benefit from a soft loan facility totaling GH₵50million under the third window of the Presidential Business Support Programme (PBSP) which opens across the country today.
The beneficiaries would be selected from 26,000 entrepreneurs from all districts whose capacity would be built in marketing and business management as part of the programme.
Launched by President Nana Addo in 2017, the PBSP is aimed at assisting Ghanaian businesses with capacity building, money and funding for young entrepreneurs and start-ups.
At the launch of the new window in Accra yesterday, Minister of Business Development, Dr Ibrahim Mohammed Awal said 19,000 startups supported under the previous windows had created 90,000 jobs.
This, he said, was a testament of the need to support the youth to be job creators instead of job seekers since only two per cent of the nearly 250,000 young people who graduate get jobs in the formal sector.
“The rest must find jobs in the private sector hence the president’s commitment to entrepreneurship to train them, equip them, fund them and build capacity so that they can create jobs and employ more people,” he said.
According to Dr Awal, the country was largely a youthful population with three per cent of the young people below 30 years and that the government was determined to use the programme as a resource to enhance national development and create wealth for the people.
On his part, John Kumah, the Chief Executive Officer (CEO) of the National Entrepreneurship and Innovation Programme (NEIP), the agency coordinating the programme, said this year’s edition had been extended from 19,000 beneficiaries to 26,000 and GH₵40million to GH₵50 million to support more people.
He said 100 beneficiaries would be selected from each of 260 districts across the country and given loans ranging between GH₵5,000 and GH₵50, 000 with 10 per cent interest.
The interest, he said, was to sustain the pool of fund and support other people as well as incorporate the culture of loan repayments to enable them approach banks for loans in the future.
This year, he said, application had been decentralised and not done exclusively online, in response to concerns raised by prospective beneficiaries in the rural areas that internet access was an impediment.
He assured all prospective applicants of a fair and selection process as private consultants would be in charge of the selection after which the Monitoring and Evaluation department of the ministry would follow up.
“It is a very fair and transparent process. I urge all to apply through their district assemblies, every Ghanaian with a business idea is qualified,” he said.
On the recovery of loans, Mr Kumah, said it was about 70 per cent but the COVID-19 had slowed down recovery rate.
BY JONATHAN DONKOR
The Office of the Special Prosecutor (OSP) has clarified that former Finance Minister Kenneth Nana Yaw Ofori-Atta remains the subject of criminal proceedings in Ghana and is still wanted under a valid arrest warrant issued by the High Court in Accra.
In a public notice, the OSP said it had taken note of a transcript of a hearing from a United States immigration court that has been circulated by some media organisations.
According to the office, the document has been interpreted by some to suggest that Mr. Ofori-Atta has not been credibly charged or linked to any wrongdoing in Ghana.
The OSP rejected that interpretation, explaining that it is not involved in Mr. Ofori-Atta’s immigration proceedings in the United States.
It said its involvement relates only to extradition proceedings, which are being handled through Ghana’s Attorney-General as the country’s central authority.
According to the OSP, the extradition documents are not before the US immigration court and the court has no authority to determine whether the criminal charges against Mr. Ofori-Atta are credible.
“The credibility or otherwise of the criminal charges against Mr. Ofori-Atta is a matter for determination by the courts in Ghana,” the OSP stated.
The office explained that there are three separate legal proceedings involving the former minister.
These include the immigration proceedings in the United States concerning his immigration status, extradition proceedings to determine whether he should be returned to Ghana, and the criminal case before the High Court in Accra involving corruption and corruption-related offences.
The OSP reiterated that Mr. Ofori-Atta remains before the High Court in Accra as an accused person and that a valid warrant has been issued for his arrest.
It maintained that he remains a fugitive from justice in Ghana and is required to appear before the High Court to answer the charges against him.
The Special Prosecutor also stressed that the criminal proceedings in Ghana would continue in accordance with the law and the directives of the High Court, whether or not Mr. Ofori-Atta is physically present in the country.
By: Jacob Aggrey
Telecel Ghana has announced that it has resolved the intermittent challenges that affected its voice and data services.
In a message to customers, the telecommunications company announced that its network services had been fully restored after experiencing temporary disruptions.
“We are pleased to inform you that intermittent challenges with our voice and data services have been resolved,” the company said.
Telecel apologised to customers for the inconvenience caused by the service interruptions and thanked them for their patience during the period.
“We appreciate your patience and apologise for any inconvenience this may have caused,” the company added.
The company assured customers of its commitment to providing reliable communication services under its slogan, “Connecting Energies.”
By: Jacob Aggrey
