The National Entrepreneurship and Innovation Plan (NEIP) has partnered with an Indian company to roll out 29 new factories for new businesses headed by young Ghanaians.
The Chief Executive Officer of NEIP, John Kumah, who is currently in India participating in the India-Africa Conclave, disclosed that NEIP has partnered ACE Construction Company in India to roll out the 29 new factories for youth startups under the Youth In Industry programme.
[contextly_sidebar id=”YUvbEqY4D1ybMS5iraC5p00rNvndcjvo”]”The NEIP Youth In Industry is currently being financed by Ghana Exim Bank and Venture Capital Fund for the first phase, while India Exim Bank will fund the second phase of the project,” Mr. Kumah said.
The Ghanaian delegation participating in the India-Africa Conclave included Minister for Business Development, Ibrahim Awal Mohammed; Minister for Works and Housing, Samuel Atta Kyea; the CEO of NEIP and the CEO of Ghana Exim Bank, among others, and was ably supported by the Ghana High Commission in India led by Mike Oquaye Jnr.
The plan, under NEIP, is to incentivize and partner private sector investors to set up business incubator hubs and industrial parks and establish a new enterprise fund to attract private partnership nationally.
The project is also meant to provide a ready market for the products and services of start-ups through the reservation of the percentage of the proposed 70 percent of the local content public procurement contract.
It is against these backgrounds that the NEIP is pushing for ‘Youth In Industry’ through a partnership with India under the One District One Factory policy.