Some financial institutions in Ghana have indicated their readiness to support the government in the disbursement of the ten million dollars provided as seed capital for the National Entrepreneurship and Innovation Plan (NEIP).
Speaking to Accra-based Citi FM, the Managing Director of Fidelity Bank Jim Baiden said the government has taken a very commendable decision to support entrepreneurs.
“Without a doubt what the government has done is very commendable. To provide seed capital with an amount of ten million US dollars to promote the capital or the business of young entrepreneurs in the business space is very commendable.”
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He added that if government route some of the money through Fidelity Bank, they will double the amount to promote SMEs in the country.
“So what we are saying at Fidelity is that for every pesewa of that ten million dollars if some of that money is routed through Fidelity bank, we will match it with equal dollars. So dollar for dollar. If five million dollars is channelled through Fidelity bank to support to SME business, to support young entrepreneurs, Fidelity bank will match it with another five million dollars.”
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The NEIP fund was launched by President Akufo-Addo with a seed capital of ten million dollars. It is aimed at supporting young entrepreneurs grow their businesses.
Baiden was speaking at the sidelines of the launch of a summit to promote SMEs.