Chief Executive Officer of the National Entrepreneurial and Innovation Plan (NEIP), Mr John Kumah has urged banks to support business start-ups in Ghana in every small way they can in order to make them competitive.
According to him, the solution to unemployment issues in Ghana rests with the youth through their own efforts to create their own business ideas with adequate external support.
“We need more investors to come on board to support business start-ups because entrepreneurial competitiveness is the way to make our local cedi strong and not a ban on trading with the dollar,” he added.
Speaking on Asempa FM’s Ekosii Sen show, Mr Kumah explained that most Ghanaian youth have great business ideas but have a problem with execution due to lack of funds.
“We are pleading with Bank in Ghana to support start-ups in order for them to be competitive even if it is 5% of their profits. Entrepreneurs in Ghana have great minds but lack of finance is debilitating against their works,” he appealed.
Mr Kumah added that the ability of banks to support business start-ups will go a long way to help reduce youth unemployment in Ghana.
“Youth unemployment issue is now a national security threat and the long term way of solving this is supporting their innovative plans with finance. So we should be able to have start-ups desk at all the banks in Ghana,” he urged.