The President of the Republic, Nana Addo Dankwa Akufo-Addo, delivered an address at the 3rd Applied Research Conference of Technical Universities in Ghana (ARCTUG 2024) in Sunyani, where he commended the substantial impact of the National Entrepreneurship and Innovation Programme (NEIP) on the entrepreneurial landscape in Ghana. Launched in 2017, NEIP has played a pivotal role in promoting entrepreneurship and innovation in the country through the provision of support to start-ups in the form of funding, training, and mentorship.
President Akufo-Addo underscored the achievements of NEIP and its contribution to reducing youth unemployment and fostering economic growth. He highlighted that the programme has facilitated the scaling up of operations for 15,000 start-ups, resulting in the creation of 103,871 jobs by the conclusion of 2023. This has not only contributed to economic diversification, but has also empowered the youth by nurturing a culture of self-reliance and ingenuity.
The President also acknowledged the foundational groundwork of the late John Kumah, the inaugural CEO of NEIP, and the former Minister for Business Development, Mohammed Awal Ibrahim, in establishing the programme. Their efforts have led to the emergence of numerous innovative businesses across various sectors in Ghana, positioning the country as a hub for innovation in West Africa.
Furthermore, President Akufo-Addo highlighted the government’s steadfast commitment to promoting entrepreneurship and innovation through substantial investments in education and research. Since 2020, the government has disbursed over GH¢700 million in research and book allowances, demonstrating its dedication to advancing education and research in the country. The President also underscored the significance of STEM education in fostering innovation and entrepreneurship, elaborating on various initiatives aimed at cultivating high-quality STEM institutions and programs.
In conclusion, President Akufo-Addo urged all stakeholders to persist in their support for initiatives such as NEIP and collaborate in advancing Ghana’s development through innovation and entrepreneurship. He expressed optimism for the future, asserting that together, they can forge a brighter future for the nation characterized by innovation, inclusivity, and prosperity.
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