The GH¢30 million initiative to be borne by both the Ghanaian and Spanish governments would serve as the trainers of trainers programme expected to begin within the next three months.

It would be indertaken by the Spanish chamber of commerce under the auspices of the Institute for the Creation and Development of Enterprise (INCYDE) foundation.

The agreement is to establish broad collaboration between the Ministry of Business Development and the INCYDE Foundation to provide training and consultancy services as well as to assist the development and promotion of entrepreneurship to indigenous Ghanaian businesses to become competitive towards fostering private sector-led investment and job creation.

The Minister of Business Development Dr. Mohammed Awal signed on behalf of the government while the Spanish Ambassador to Ghana Madam Aliaa Rico initiated on behalf of her government.

Dr. Awal indicated that the 2,000 beneficiaries who would constitute the first batch would be provided with the necessary skills capable of producing first class products that could go beyond the African markets.

He lamented why most businesses in the country do not last more than five years and urged for the allocation of modern business technics to make the government’s vision of becoming a first class producer of quality goods a reality.

The minister explained that the only way to build a social capital business that must go beyond Africa towards breaking the value chain monopoly.

He said the beneficiaries would be provided with start-up capitals to set up businesses while others would also be assisted with enough incentives to become regional trainers of other entrepreneurs.

Dr. Awal stated that the monitoring would be done by the University of Ghana Business School (UGBS) while the future young entrepreneurs and trainees would be attached to businesses in Spain to undergo mentorship programmes.

Professor Kwesi Amponsah Tawiah of the UGBS said the school had estabilished an enterprise development unit as an unbeaten centre to ensure that first year students read entrepreneurship as a major course to adequately prepare them to become future business leaders.

Madam Rico said the programme would re-inforce the cooperation between the countries.

She said the Ghana Beyond Aid programme initiated by government called for the establishment of new businesses to empower the youth to generate jobs for the socio-economic development of the country.

She assured of her country’s continued support to the Ghanaian government in order to move it to the path of economic prosperity.

The Ghanian ambassador to Spain, Madam Elizabeth Adjei said the Embassy was collaborating with the Spanish government to promote trade tourism and culturE, as well as the investment and industrialisation agenda as  a core strategy to promote entrepreneurship among the two countries.

The Sub director General of INCYDE, Mr. Jose Maria Parrega said the foundation has more than 33,000 new companies and 87 chambers of commerce and expressed optimism that the new partnership with the European Union would bring immense benefit to both parties.

 BY LAWRENCE VOMAFA-AKPALU