Presidential Pitch Season 3: Ministry Of Business To Support Young Entrepreneurs With GHC1 Million

As part of efforts to drive youth entrepreneurship among Ghanaians, Season Three of the Presidential Pitch Competition, a business idea contest which is an initiative of the Ministry of Business Development (MoBD) has been launched in Accra.

About ten successful entrepreneurs between the ages of 18-35 years irrespective of their educational background are set to benefit from a GHC1,000,000 (One Million Ghana Cedi) grant according to the Minister for Business Development, Hon. Ibrahim Mohammed Awal.

The Presidential Pitch Competition is aimed at realizing the government’s ambition of helping to unleash an entrepreneurial revolution in the country.

"It is meant to support young people who have business ideas but do not have the money to execute those ventures. The Akufo-Addo government is dealing with this challenge by providing funding for those kinds of entrepreneurs," Hon. Ibrahim Mohammed Awal stated.

The project falls in line with the President of Ghana, Nana Addo Dankwa Akufo-Addo’s, vision of assisting young entrepreneurs to incubate their business ideas and further improve livelihoods.

The Presidential Pitch competition is another initiative by the current administration to curb the unemployment rate in the country by supporting young entrepreneurs with funding for free.

The minister lamented that Ghana as a nation has a largely youthful population with over 200,000 graduates which out of this number, only 10% of them get employed into the public sector with the rest struggling to get a job.

“The President, therefore, decided that entrepreneurship is the way out to solve youth unemployment and that’s why he created this ministry. Our mandate is to deepen entrepreneurship culture and build entrepreneurs out of young people”, Dr. Awal disclosed.

“The only way we can tap into this big market and opportunity is to prepare our young people to be entrepreneurs so that their products will not only meet local requirements but global standards; hence the idea of the presidential pitch,” he added.

Young entrepreneurs are to log on to the Ministry’s website at www.mobd.gov.gh and fill in the application form or download and fill the forms and deliver it by hand to the Ministry's office.