NEIP has transformed entrepreneurship landscape in Ghana — Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has praised the significant impact of the National Entrepreneurship and Innovation Programme (NEIP) on Ghana's entrepreneurial landscape.

Speaking at the 3rd Applied Research Conference of Technical Universities in Ghana (ARCTUG 2024) in Sunyani, the President outlined NEIP's successes in reducing youth unemployment and stimulating economic growth.

Launched in 2017, NEIP is a key initiative aimed at promoting entrepreneurship and innovation in Ghana by providing start-ups with essential support such as funding, training, and mentorship. President Akufo-Addo highlighted that NEIP has notably influenced the country's start-up ecosystem, resulting in the creation of numerous innovative businesses across various sectors.

"Through financial support and business development services, NEIP has enabled 15,000 start-ups to expand their operations," he stated, adding that the program has facilitated the creation of 103,871 jobs by the end of 2023, thus fostering economic diversification and youth empowerment.

The President honored the foundational efforts of the late John Kumah, NEIP's first CEO, and former Minister for Business Development, Mohammed Awal Ibrahim, for their pivotal roles in establishing the program. He emphasized that NEIP's success in cultivating entrepreneurial talent has not only generated thousands of jobs but also positioned Ghana as a West African innovation hub. The program's focus on providing young entrepreneurs with necessary skills and resources has been crucial in reducing unemployment and fostering a culture of self-reliance and creativity.

President Akufo-Addo pointed out that NEIP's achievements are evident in the numerous innovative businesses it has nurtured, which are driving sustainable economic development and improving citizens' livelihoods. NEIP has also significantly contributed to positioning Ghana as a regional innovation hub. Additionally, the President stressed the importance of creating an enabling environment for entrepreneurship, noting that the government's efforts extend beyond NEIP, with substantial investments in education and research.

The government has disbursed over GH¢700 million in research and book allowances since 2020, highlighting its commitment to advancing education and research in Ghana. The President also emphasized the importance of STEM education in fostering innovation and entrepreneurship, detailing initiatives such as the construction of the Accra STEM Academy and several STEM Centers and model STEM Senior High schools.

Concluding his speech, President Akufo-Addo urged all stakeholders to continue supporting initiatives like NEIP and to work collaboratively to advance Ghana's development through innovation and entrepreneurship. "Together, we can build a brighter future for our nation, characterized by innovation, inclusivity, and prosperity," he said. He also expressed gratitude for the broad endorsement of the Ghana Automotive Development Policy by Toyota's representative and echoed the sentiments of Bono Regional Minister Justina Owusu Banahene regarding the establishment of a Sunyani industrial outlet of Toyota.

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