President Nana Addo Dankwa Akufo-Addo has said the negative economic impact of the COVID-19 pandemic on Ghana’s economy has called for aggressive promotion of innovative and viable economic enterprises to steer it out of the deadly scourge of the virus.
He said many countries, including Ghana, were thrown out of business when China closed its borders and stressed the need for Ghanaian businesses not to rely on the global supply chain for its survival.
Speaking at a ceremony to officially present cash prices to 20 winners of the third season of the Presidential Pitch programme at the Jubilee House, Accra, President Akufo-Addo indicated that, Ghana could not afford to let that happen.
“We have now to do things for ourselves and, therefore, you who are driving new ideas become more important and significant for us.”
The winners of the Presidential Pitch were given a total GHȻ1, 000, 000 to support their small businesses and start-ups.
The programme, an initiative of the Ministry of Business Development, is a competition of business ideas where young persons between the ages of 18 and 35, compete for the government’s support with innovative, impactful, scalable and viable business ideas and plans.
Twenty young entrepreneurs were shortlisted to benefit from the cash support from over 100 entries received across the country.
The President challenged the young entrepreneurs that, “It is the quality of the ideas, your drive and dynamism that is going to determine the world after COVID.”
Dispute the deadly scourge in an already fragile social and economic environment such as Ghana, President Akufo-Addo said the Coronavirus pandemic presents numerous opportunities that can be tapped into and nurtured to build a stronger, self-reliant and resilient Ghanaian economy.
He pointed out that the pandemic is a wakeup call for economies such as Ghana’s to push for self-reliance, as the raging disease had created dysfunction across the world and exposed the weakness of the global supply chain.
Dr Ibrahim Awal, Minister of Business Development, expressed warm approval for the President’s commitment to the development of entrepreneurship in the country.
He said the initiative (Presidential Pitch Programme) had captured the interest of some countries, who are keen to replicate it in their nations.
The Minister was optimistic that due to the government’s proficient approach to handling the pandemic, the country’s economy would bounce back sooner.
Mr Douglas Akoglo, a 26-year-old entrepreneur from Bongo in the Upper East Region, whose pitch on the conversion of shea butter waste into coal, shampoo and anti-dandruff products, won him the first prize and received a cash prize of GH¢70,000, and an additional personal cash reward of GH¢30,000 from the President.
Rex Mainoo Yeboah, ISD
