Ghanaian President Nana Addo Dankwa Akufo-Addo said Wednesday that his government was on track to create a business-friendly environment to boost entrepreneurship.
Akufo-Addo made the remarks at the launch of the Ghana Tourism Development Project, which aims to help small and medium-sized enterprises (SMEs) recover from the COVID-19 pandemic and create jobs for young people.
“Entrepreneurship is an important driver of economic activity and transformation, as well as a critical component of economic growth and development.” “The growth of entrepreneurship has the potential to contribute to specific development goals, such as the employment of women and youth,” said the president.
He announced a $10 million World Bank grant to help tourism, hospitality, and creative arts SMEs expand their operations.
“This year’s grant will benefit approximately 60% of women because the majority of operators in the sector are female.” I thank the World Bank for its support of this initiative through the Ghana Tourism Development Corporation, and we will continue to value the World Bank’s partnership in our development journey,” Akufo-Addo added.
According to Pierre Laporte, World Bank Country Director for Ghana, the tourism development project is another opportunity for the bank and Ghana to deepen cooperation.
Laporte went on to say that the World Bank’s support for Ghana at this point demonstrates the bank’s belief that Ghana has a huge potential to attract tourism investments in Africa.
“We are confident that Ghana will overcome the current macroeconomic and fiscal challenges.” Reforms in critical areas such as public finance and key sector reforms, as well as the investment climate, must be accelerated, “he said.
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