About ten thousand businesses and start-ups are up to benefit from a new initiative by the Asantehene, Otumfuo Osei Tutu II, as a tool to rebuilding after Covid-19 through an authentic entrepreneurship renaissance.
Known as the Otumfuo Entrepreneurship Challenge, it is aimed at addressing both underemployment and the unemployment situation in the Ashanti region and by extension Ghana.
The main objective is to provide relevant support for the youth in the Ashanti Region to start, grow, build and expand their businesses.
Under the auspices of the Otumfuo Osei Tutu the Second Foundation, the project is expected to last for five years, after which depending on the success will be extended.
The project will be implemented by industry players and experts from the Foundation and professionals from Ashesi University.
Project Lead, Michael Kwatia says the initiative comes from Asanteman aimed at mainly helping Asanteman youth to start and grow businesses that will create wealth.
“…we are targeting to engage with over ten thousand businesses, and provide direct support to about 1,000 businesses, and financial to support to over 50 businesses over the five-year period”.
The challenge will also target the indigenous businesses and empower them.
Mr Kwatia is positive this will address the challenges businesses face in the informal sector.
“…one of the things we hope this project will achieve is a lot of formalization of the informal sector businesses. So it is not a project designed for high-level business projects but rather our indigenous type of businesses that solves our daily problems, that we can help grow and expand.
The Challenge begins on November 1. The form will be through an application online.
Officials say once an application satisfies the main objectives of being able to create jobs and skills and solve local problems then the expert job is to help these businesses grow over a period of time.
- A tour of Burna Boy’s stunning home in Lagos, Nigeria
- Apeatse Explosion: Work on new shelter for displaced victims 80% complete – Prestea Huni-Valley MCE
- ‘Monkeys play by sizes, allow MPs to mature; don’t change them like shirts’ – Speaker to electorates
- Lands Ministry investigates alleged military assault on mining taskforce
- Apeatse explosion: I wish I had died than to lose my son, 10 bedroom house
- Don’t blame me for your failures – Bagbin urges Majority to consult on issues
- Special Prosecutor starts investigations into banking and financial sector crisis
- NDC MPs have washed our hands off the e-levy and its consequences if approved – Elizabeth Ofosu Agyare
- Ten dead in a road accident at Savelugu
- E-levy not on Parliament’s business statement for this week – Ahmed Ibrahim
Ghana’s economy has been collapsed by Akufo-Addo and Bawumia – Mahama
In every 20 seconds, a fire outbreak is recorded in Ghana – Research
It took me 7 months to record ‘High’ -Adekunle Gold on hit track with Davido
First female to be Brigadier-General in GAF dies
The average Ghanaian doesn’t care about fire safety because they trust in God – Researcher
Bagbin’s new look gets social media talking as Parliament resumes sitting
Shatta Wale’s prosecution has delayed, consider acquitting him – Lawyers tell court
Kojo Oppong Nkrumah: We have a responsibility to be civil in Parliament
Advans Ghana won 6 awards in 2021; goes digital in 2022
Logos Hope berths at Tema Port for floating book fair
Look for information if you want to talk policies – Okraku-Mantey urges entertainment pundits
E-levy: Government will not back down on 1.75% rate – Oppong Nkrumah
AFCON 2021: Fifa sends ‘deepest condolences’ after crush at Olembe Stadium
Ghana’s stagnant CPI performance shows corruption remains a problem – Special Prosecutor
DVLA records 32% failure in theory and 19% traffic tests in Upper West region