The Minister for Business Development, Dr. Ibrahim Mohammed Awal has disclosed that over 22,500 students from both Senior High and tertiary institutions across the country are benefiting from a grooming program under the Student Entrepreneurship Initiative.
Addressing the media when he took his turn at the regular Meet-the-Press session, Dr. Ibrahim Awal said exposing senior high school students to business concepts and plans at an early age will help build entrepreneurship culture amongst them.
He said the initiative will help the student to develop an entrepreneurial mindset and begin to develop projects and services while in school.
The Minister disclosed that, 7,500 students in Senior High School are currently benefiting from the initiative nationwide.
He added that, 15,000 students in the various tertiary institutions are also benefiting from the initiative nationwide.
He said this will boost the entrepreneurship ecosystem and deepen the entrepreneurial capacity of tertiary students.
“Under the Presidential Pitch 1, over 200 jobs have been created with funding provided to Young Entrepreneurs between 18 and 35 years with brilliant business ideas. Twenty young entrepreneurs were assisted last year with funding, ranging from GHC25,000.00 to GHC50,000.00.“ he said.
Under the Presidential Pitch 2, the Minister said over 800 applications were received, of which 20 of them were selected.
He said 10 made it to the final with Funding between GHC25,000 to GHC60,000.
He mentioned that, President Akufo-Addo made a personal donation of GHC40,000 to the overall winner.
The overall winner was a team of two female students from the Kwame Nkrumah University of Science and Technology (KNUST) – Matilda Asantewaa Sampong and Emilee Otoo Quayson, who make sanitary pads by processing banana and plantain fibre.
Their business, called Floyabana Pads, is mostly targeted at rural women who cannot afford the mostly imported sanitary pads on the Ghanaian market.
They assured that the grants provided to them by government would enable them to expand their business.