President Nana Addo Dankwa Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has lauded the National Entrepreneurship and Innovation Programme (NEIP) for transforming the entrepreneurial landscape in Ghana.
He said the NEIP had contributed to reducing youth unemployment and stimulating economic growth.
The President, who spoke at the third Ghana Technical Universities Applied Research Conference (ARCTUG 2024) held in Sunyani, declared that the initiative has had a profound impact on Ghana’s start-up ecosystem, leading to the emergence of many innovative businesses across various sectors.
“NEIP has enabled 15,000 start-ups to scale up by providing them with financial assistance and business development services,” President Akufo-Addo said.
Launched in 2017, NEIP is a vital initiative aimed at fostering entrepreneurship and innovation in Ghana. The programme provides vital support to startups through funding, training and mentorship.
President Akufo-Addo announced that the initiative will create 103,871 jobs by the end of 2023, promote economic diversification and empower youth.
He noted that NEIP’s success in nurturing entrepreneurial talent has not only created thousands of jobs but also helped Ghana establish itself as the innovation hub of West Africa.
The President highlighted the various forms of support provided by NEIP, including funding, training and mentoring.
The program focuses on providing young entrepreneurs with the skills and tools they need, helping to reduce unemployment and foster a culture of self-reliance and creativity.
President Akufo-Addo noted that the success of NEIP is evidenced by the diversity and innovative businesses that have emerged from the programme.
He said these companies are driving long-term economic growth and improving people’s lives.
In addition to the NEIP, the President stressed the importance of creating an environment that encourages entrepreneurship.
He noted that the government’s efforts to support entrepreneurship and innovation extend beyond the NEIP, with significant investments in education and research.
Since 2020, government has allocated over GH¢700 million for research and books, demonstrating its commitment to promoting education and research in Ghana.
President Akufo-Addo also stressed his government’s commitment to STEM education, which is crucial to fostering innovation and entrepreneurship.
He outlined various initiatives aimed at establishing quality STEM institutions and programmes, including the Accra STEM Academy, several STEM Centres and Model STEM High Schools.
President Akufo-Addo called on all stakeholders to continue supporting projects like NEIP and work together to drive Ghana’s progress through innovation and entrepreneurship.
