Joseph Osei Oppong Brenya , former director of corporate affairs at the National Entrepreneurship Innovations Programme (NEIP), has cautioned the new administration against repeating the mistakes of the previous NPP government.
He specifically highlighted the ineffectiveness of providing small stipends to entrepreneurs, citing that amounts like GH¢10,000 to GH¢20,000 are insufficient for establishing or investing in the businesses of entrepreneurs.
Mr. Oppong Brenya suggested that the new administration should instead focus on investing in a smaller number of entrepreneurs with more substantial funding, such as GH¢200,000 to GH¢500,000, to enable them to establish viable businesses that can create employment opportunities for others.
The practice whereby huge numbers are selected and paraded to show working must be avoided.
Mr. Oppong Brenya, who was speaking on the theme; Youth Entrepreneurship, the role of the Government,” organised by the Entrepreneurs and Innovators Network Ghana, emphasised that small grants are often misused and wasted, and that entrepreneurs seeking such amounts should be directed to institutions like Microfinance and Small Loans Centre(MASLOC), which provides microloans for petty traders and small-scale businesses.
The former director also expressed concern that NEIP lost focus and was duplicating efforts similar to MASLOC.
He urged the new administration, particularly the Chief Executive Officer of NEIP, Eric Adjei and the leadership of NEIP, to adopt a more impactful approach by selecting and investing in a few promising entrepreneurs rather than spreading resources thinly.
This approach, he argued, would help the program achieve its mandate of establishing and supporting successful entrepreneurs.
The National Entrepreneurship and Innovation Programme (NEIP) is a flagship initiative of the Government of Ghana designed to support and nurture entrepreneurship and innovation across the country. NEIP focuses on providing business development services, funding, training, and mentorship to startups and small businesses to drive economic growth and job creation