Finance | Regional

Entrepreneurs in Ketu South to receive up to ¢50,000 funding package

A scene from the Obuasi Central Market in April

Between 10 to 20 selected business proposals from Small and Growing Business (SGB) owners in Ketu South Municipality will receive funding package of between ¢5,000 to ¢50,000 support their businesses to build the local economy.

This forms part of the Presidential Business Support Programme being rolled out throughout the country to support businesses and entrepreneurs under the National Entrepreneurship and Innovation Programme (NEIP) against the negative impact of the Covid-19 pandemic and for a self-sufficient economy.

Mr Gorkel Obro-Adibo, a Management Consultant made this known, when he facilitated a day’s training programme organised by NEIP to train about 100 SGB owners in the Municipality.

The programme trained entrepreneurs from diverse standing drawn from different parts of the Municipality on a number of topics including business models, business plan development, financial planning for SGBs and how to write fundable business plans.

Mr Obro-Adibo said the programme was aimed at training participants to understand the business terrain, especially in this Covid-19 era before being selected for the support to lessen the impact of the pandemic on businesses.

He indicated that the selected businesses would receive a funding package ranging from ¢5,000 to ¢50,000 depending on the strength of the plan and how “viable the business is and the potential to offer employment opportunities to other people.”

Mr Elliot Edem Agbenorwu, the Municipal Chief Executive (MCE) for Ketu South, said he would lobby NEIP for more businesses to receive support, to build the local economy as part of government’s Ghana Beyond Aid agenda.

He said his decision to lobby for 100 per cent increase stemmed from the peculiarity of the area “which is a border municipality and has businesses hardest-hit as a result of the border closure” brought about by Covid-19.

Mr Eric Dotsey, a participant who is into agribusiness, expressed the hope that his business would be selected so that he would be able to access the needed capital for the purpose of expanding his business.