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Presidential Business Support 3rd Window:GH₵50m soft loan for 5,000 start-ups
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
Troubled and anxious citizens in Damongo of the Savannah Region have expressed concerns about the number of young people, believed to be under the age of 18, involved in ‘shisha’ smoking in pubs and drinking spots within the township.
Eyewitnesses say the minors were seen patronising nightlife venues, where Shisha smoking happen in the open.
The situation has sparked renewed public concern over the enforcement of child protection laws and regulations governing the operations of entertainment centres in the municipality and country as a whole.
An eyewitness, who spoke to The Spectator on conditions of anonymity for security reasons, noted that the situation was becoming increasingly common.
“This is not a one-off incident. It is becoming very common, but residents like us cannot openly report or speak about it because our lives will be at risk,” he said.
Under Ghanaian law, minors were prohibited from patronising Shisha.
Public health experts have consistently warned that shisha use exposes users to harmful substances that can negatively affect brain development, respiratory health, and overall well-being, particularly among young people.
The residents believe the alleged incidents point to broader challenges relating to youth supervision, substance abuse, and weak enforcement of existing regulations and have called on municipal authorities, security agencies, and regulatory bodies to intensify monitoring of pubs and entertainment centres to ensure compliance with the law.
In an effort to address the menace, Mr Salisu Be-Awurbi, the Savannah Regional Minister, has led public education campaigns, engaged security agencies, and supported enforcement actions to address the rising use of illicit substances in the region.
Wura Kelly Seidu Boresah I, the Chief of Damongo, has also called on all stakeholders including parents, community leaders, institutions, and young people to actively support efforts to curb drug abuse, warning that the rising consumption of hard drugs poses a serious health threat to the future of the youth in the Savannah Region.
He also cautioned individuals involved in the sale and distribution of illicit drugs to immediately desist from the practice, stressing that offenders will face arrest and prosecution in accordance with the law.
From Geoffrey Buta, Damongo, Savannah Region
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Dr Theresa Baffour, an advocate for ending violence and Chief Executive Officer (CEO) of SAHM SAHW Foundation, has said that society plays a critical and pivotal role in breaking the cycle of domestic violence.
According to her, domestic violence is a major contributor of making women, who are mostly the victims, mentally derailed and unable to engage in economic activities.
She said this when the foundation called on the Ga Mantse, Nii Tackie Teiko Tsuru II, to solicit support for the initiative by the “Strong and Healthy Minds, Strong and Healthy Women” (SAHM SAHW) to combat domestic violence within the Ga State.
The visit was occasioned by the fact that domestic violence cases have become quite prevalent in the Ga communities and is retarding growth.
According to her, the canker was an impediment to national development because the victims were usually tortured and would have to go through series of therapies to return to the right state of mind.
Dr Baffour mentioned that Gender-Based Violence (GBV) places a mental toll on women, and was, therefore, important to break the cycle through comprehensive mental health support, crisis intervention and empowerment programmes in communities with high rates of GBV.
This intervention, she underscored, would help in empowering the denigrated victim of domestic violence to soundly heal, build and thrive.
Dr Baffour added that the initiative would provide holistic, trauma-informed mental health care and advocacy for young women affected by domestic violence.
According to her, the above statement would create safe spaces for healing and equipping them with entrepreneurial skills for renewed hope and empowered life.
The Ga Mantse pledged his support for the laudable initiative to combat domestic violence and also acknowledged the need to address it in the Ga State.
Further endorsement came from Justice Julia Naa-Yarley Adjei Amoah, Chief of Staff at the Office of the Ga Mantse, as she commended the team of SAHM SAHW Foundation for taking a bold step to end the canker in the Greater Accra.
She added that it was a step in the right direction to save vulnerable women from torture, stress and emotional abuse.
By Alfred Nii Arday Ankrah
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