The tourism sector will benefit from a ¢120 million Ghana funding from INCYDE Foundation, a Spanish company promoting entrepreneurship.

The money which will come in the form of a loan will promote entrepreneurship within the tourism ecosystem.

To this end, a Memorandum of Understanding has been signed between the Ministry of Tourism, Arts and Culture and INCYDE Foundation.

According to the Tourism Minister, Dr. Ibrahim Mohammed Awal, this investment will go to support the tourism ecosystem and enable the country achieve its target of $5 billion annually from the sector.

“One in every four jobs in Ghana is created from the tourism sector. We want to ensure that two out of four jobs will come from the sector. We want to create one million jobs and to have $5 billion next year. To do that, we need to build the capacity of value chain players that is why our friends from Spain and INCYDE Foundation are here to support us. This agreement will help us build the capacity of 120,000 people,” he said.

International Affairs Manager at INCYDE Foundation, Mar Casanova Llorens said Ghana is among countries her outfit is considering investing, to help promote entrepreneurship and tourism across the globe.

Highlighting the details of the agreement, she said “we’re going to develop two more training courses in Accra. First, we will train the trainers because it’s important to equip them with knowledge and skills so that they can continue to train in the future. Also, we’re going to train entrepreneurs,” she stated.

Spanish Ambassador to Ghana, Javier Gutiérrez, stated that this MOU is a step to reinforcing Spain’s partnership with Ghana.

“When I had the opportunity to present my letter of credence to President Akufo-Addo, I told him that we want to reinforce our partnership and extend it into other areas of collaboration, for instance tourism,” he said.