President declares NEIP Initiative has revolutionized entrepreneurship scene in Ghana

President Nana Addo Dankwa Akufo-Addo has commended the National Entrepreneurship and Innovation Programme (NEIP) for its significant impact on Ghana’s entrepreneurial landscape. Speaking at the 3rd Applied Research Conference of Technical Universities in Ghana (ARCTUG 2024) in Sunyani, the President highlighted the role of NEIP in reducing youth unemployment and driving economic growth.

Since its launch in 2017, NEIP has supported 15,000 start-ups with financial assistance and business development services, leading to the creation of 103,871 jobs by the end of 2023. This initiative has not only empowered the youth but has also positioned Ghana as an innovation hub in West Africa.

President Akufo-Addo emphasized the importance of fostering an environment conducive to entrepreneurship, noting the government’s investments in education and research. With over GH¢700 million provided for research and book allowances since 2020, the government is committed to advancing education and innovation in Ghana.

Furthermore, the President highlighted the government’s focus on STEM education, essential for promoting innovation and entrepreneurship. Initiatives such as the Accra STEM Academy, STEM Centres, and model STEM Senior High Schools are aimed at creating high-quality STEM institutions and programs.

President Akufo-Addo called on all stakeholders to continue supporting projects like NEIP and collaborate to accelerate Ghana’s development through innovation and entrepreneurship. He expressed optimism for a brighter future characterized by innovation, inclusivity, and prosperity for the nation.