Five thousand entrepreneurs in the country are set to benefit from a ¢50 million business support program.

This will be captured under the third phase of the Presidential Business Support Program which was launched by the Private Sector Development Minister.

Mohamed Awal explained that the initiative is to create an excess of 50,000 jobs.

“We are going to build the capacity of 26,000 Ghanaian startups and businesses out of which we select 5000 of them to access funding of ¢50 million to build their businesses so they can create jobs.

"We expect to create over 50,000 direct and indirect jobs” the Business Development minister stated.

On the numbers of jobs created, John Ampontuah Kumah, the CEO of the National Entrepreneurship and Innovation Program, disclosed that some collaborations have been made with the Ghana Statistical Service on the exact percentage of jobs created.

“We track the jobs based on the reports and feedback we receive. What we have done with all our beneficiaries is to keep receiving feedback through our MNE department.

"If before the program you have three workers and in the end, you get 15 workers – you can imagine the numbers. This is reflective in the national data,” he stated.

Other programs by the Business Development Ministry include green businesses, building entrepreneurship culture amongst the youth, Presidential Pitch as well as capacity building and funding for women entrepreneurs and women entrepreneurs with disability.