The dream of some 20 young graduates entrepreneurs to get funding to enhance their business became a reality Wednesday as the Ghana Export and Import (Exim) Bank supported them with GHC2 million.
In partnership with the University of Cape Coast (UCC), the maiden edition of the Graduate Enterprise Development Initiative awarded the entrepreneurs with GHC100,000 each.
This fellow several weeks of coaching and mentorship after 20 finalists were chosen from a vigorous screening process of 37 applicants.
The finalists were taken through a three-days training program to sharpen their skills and develop their business concepts. They submitted a refined business plan and upon further coaching, mentoring and pitching the 20 finalists were chosen for the awards ceremony.
Speaking at the award ceremony at the Alisa Hotel in Accra, the Acting Chief Executive Officer of the Bank, Dr Baffour Osei said they were excited to have carried out an idea they started pursuing in 2015.
“After the launch of the Youth Enterprise Support (YES) program, the President himself said can you put together a program which will give support directly to graduates? It goes to show creating an enabling environment in government’s initiative to support fresh graduates from the universities,” he said.
He said the initiative is to get the brains of the young graduates explore ideas and they are full of energy for the leg work to get themselves something to do.
“This program is to say there is room for the graduates to use your brains and follow the ideas they have to make themselves. The graduates who come out can get themselves together into groups and we are ready to support you,” he said.
He stressed that helping these graduates have a multiplier effect as they would employ other graduates.
Dr Osei said the Bank through it Monitoring and Evaluation would to ensure that Exim Bank follows up on the progress of the awardees so they put the monies to good use.
He stressed that the Bank would as well help those who did not make the finalist list to find alternative funds that the Bank is looking forward to.
Those awarded are Juga Farms, Vegerfresh Farms Limited, Titann Ventures, Yarda Trust Company Limited, Sule Yahaya Enterprise, Modern Grasscutter Company Limited, Nawubil Limited and Nouveau Foods Ghana Limited, E90 Ghana
Also included are PK Farms, Premor Limited, Sparkxx Foods and Beverages Limited, Sustanable Agro Limited, Isshad Plus Enterprise, Boasah Agricultural Center, Odera Ventures and Unique Quality Product Enterprise and DelChris Ventures.
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