Minister sheds light on GHS10m women entrepreneurs’ fund

The Business Development Ministry has given details of the GHS10m fund earmarked for young women entrepreneurs.

The ministry last week announced that government had committed the money to financially support young women entrepreneurs to grow their businesses.

However the ministry did not give details immediately as to how the women will access the fund and the criteria for the selection of the beneficiaries.

But speaking to Goldstreet Business in Accra, Mr. Muhammed Awal, the minister explained that the beneficiaries will be selected from all ten regions after an initial assessment is made on the viability of their businesses.

“By April it should be ready. We are trying to make sure that the women are selected from every region for each category. Some are into textiles, food processing, fashion, trading. Because the money is not enough we want to spread so that a lot more people benefit. Each region will receive GHS100, 000.

Meanwhile 7000 young entrepreneurs have been given capacity training to enable them manage their businesses effectively. According to the ministry, these people will receive between GHS5, 000 and GHS10, 000 to boost their businesses financially.

He revealed that the ministry of Trade and Industries will in the coming days give an update on the stimulus package it announced last year which seeks to support companies that are in distress.

President Nana Akufo-Addo had earlier announced that 80 companies will benefit from the GHS100 million fund to boost their business.

By Nana Oye Ankrah

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