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Government poised to grow an entrepreneurial nation

Accra, July 31, GNA –
Finance Minister, Mr Ken Ofori-Atta, has reaffirmed government’s commitment
towards making Ghana a leading entrepreneurial nation on the African
Continent.  

He said government was
injecting 10 million dollars as a seed-capital into the National
Entrepreneurship and Innovation Plan (NEIP) which was launched recently to
support start-up and early-stage businesses.

The NEIP is also
expected to raise additional 100 million dollars in private capital and
multilateral funding to fund its programmes which include business development
services, incubator hubs and business accelerator services. 

Presenting a 61-page
Mid-Year Budget for 2017 in Parliament on Monday, Mr Ofori-Atta says the NEIP
would be managed by a Private Sector Implementation Partner, which would be
incepted in three weeks.     

“It is envisaged that
NEIP will have several self-contained modules on ICT, Tourism, Agriculture,
Health and other similar critical areas that will be managed by subject-area
specialists,” the Finance Minister said.    

He explained that this
is to ensure value-creation and youth employment to reduce the unemployment
rate.    

He said as part of its
effort to improve the business environment for investments, government had
launched a comprehensive programme for business regulatory reform to make the
country business-friendly. 

The reform, he said,
aims at improving Ghana’s rankings on the World Bank Ease of Doing Business
Index and to establish an electronic register for business regulations,
legislation and processes which would provide a complete repository of business
laws and regulations.   

It will also help in
conducting a rolling review of business regulations and develop a centralised
web portal which will provide an interactive platform for public
consultations.   

The design targets
regulatory reliefs for Small and Medium Enterprises in order to reduce entry
barriers for young entrepreneurs and start-ups and seeks to establish
Regulatory Reform Units within MDAs to conduct Regulatory Impact
Assessments.  

Mr Ofori-Atta said
this would lead to the creation of a permanent system of quality control for
the introduction of new business regulations.

GNA

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