Delivering a statement on the floor of Parliament, Mr. Baafi emphasized the critical role local entrepreneurs play in driving economic growth despite persistent challenges, including limited access to capital and regulatory constraints.

“Ghanaian entrepreneurs have consistently demonstrated determination, innovation, and patriotism in building enterprises that create jobs and support national development,” he said.

The MP singled out Dr. Nick Danso Adjei, also known as Nick Danso Abeam, Executive Chairman of Ghana Link Network Services Limited, as a shining example of entrepreneurial excellence. He recounted Dr. Danso Abeam’s journey from humble beginnings in Bredi in the Bono East Region, where he began petty trading at the age of 11, to becoming a leading figure in Ghana’s private sector.

Under his leadership, the Nick Group of Companies has grown into a diversified business conglomerate with interests in trade facilitation, logistics, energy, construction materials, and hospitality. The group includes Ghana Link Network Services Ltd, Nick TC-Scan operating in Ghana and Gambia, Misyl Energy BDC, Nick Petroleum, and Golden Cement Ghana Limited.

Hon. Baafi noted that Dr. Danso Abeam’s contributions have earned him multiple accolades, including Entrepreneur of the Year at the 2022 Ghana Business Awards, the Ghana Shippers Awards, and the 2023 Ghana CEO Vision, Exhibition and Awards.

He further highlighted other prominent Ghanaian entrepreneurs whose work continues to shape the country’s economy. These include Ibrahim Mahama, founder of Engineers and Planners; Dr. Joseph Siaw Agyepong, founder of the Jospong Group of Companies; Daniel McKorley (McDan), a key figure in logistics and aviation; and the late Samuel Kwadwo Agyapong Appenteng of Intravenous Infusions PLC.

According to the MP, these business leaders exemplify the transformative potential of Ghanaian enterprise and underscore the importance of sustained support for the private sector.

Hon. Baafi also referenced government initiatives such as the One District One Factory (1D1F) programme, which aims to promote industrialization by partnering with private entrepreneurs to establish factories across the country.

“As we celebrate Ghana Month, we must reaffirm our commitment to creating an enabling environment that supports entrepreneurship and innovation,” he urged. “This will empower more Ghanaians to transform ideas into enterprises that advance our national development.”

He concluded by calling for stronger collaboration between government and the private sector to sustain economic growth and job creation.

The facility features specialised labs for electronics, mechatronics, food innovation, metal fabrication, woodwork, and computer design to expand youth entrepreneurship and job creation across Ghana.

The Centre will serve as a hub for transforming creative ideas into practical, market-ready innovations.

The Board Chairman of the Kosmos Innovation Centre (KIC) and Senior Vice President of Kosmos Energy, Joe Mensah, has underscored the Centre’s commitment to nurturing innovation among Ghana’s youth.

Speaking at the launch, he said the newly established Centre is designed to create an inspiring environment where young people can collaborate, generate ideas, and develop solutions to pressing challenges in the agriculture and industrial sectors.

According to him, empowering young innovators goes beyond supporting individual ambitions; it is a strategic investment in the country’s long-term economic competitiveness.

Mr Mensah added that initiatives like the KIC reflect a broader effort to position Ghana as a hub for youth-led innovation and problem-solving.

The Executive Director of the Kumasi Innovation Centre (KIC), Benjamin Gyan-Kesse, has called for increased government support to help the Centre expand its operations and establish centres of excellence across the country.

According to him, such investment is crucial to ensuring that more young people can benefit from the Centre’s programmes and opportunities.

He added that the Centre remains open to young people and small and medium enterprises (SMEs) seeking to modernise and enhance their products to meet global standards, positioning them to compete effectively on the international market.

Source: David Opoku

According to him, the initiative dubbed YouStart will propose the use of GH¢1 billion each year to catalyse an ecosystem to create 1 million jobs and in partnership with the Finance Institutions and Development Partners, raise another GH¢ 2 billion.

The Minister disclosed this while presenting the 2022 budget statement in Parliament on Wednesday, November 17, 2021.

“Our local Banks have agreed to a package that will result in increasing their SME portfolio up to GHC 5 billion over the next three years. This, Mr Speaker, results in an unprecedented historic 10bn Cedis commitment to the private sector and YouStart over the next three years,” he told Parliament.

He noted it will offer training and skills development, entrepreneurial support and business advisory services to entrepreneurs.

“Entrepreneurs will be able to apply for support through a dedicated YouStart online portal. YouStart is a vehicle for supporting young entrepreneurs to gain access to capital, training, technical skills and mentoring to enable them to launch and operate their own businesses,” he said.

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With regards to funding, he explained they will have access to competitive credit and starter packs as well as enterprise promotion.

This Mr Ofori-Atta said will focus on mentoring and access to markets including portals to facilitate “digital linkages” between youth-led enterprises and other businesses and relevant Government agencies. 

He added the Ghana Enterprises Agency, the National Entrepreneurship and Innovation Programme, and partner financial institutions, will serve as the implementing arms of YouStart.