President Nana Akufo-Addo has launched the “For Better Business Together (4BBT)” programme to help the country in achieving the Sustainable Development Goals (SDGs) and ensure COVID-19 economic recovery.
The initiative, under the auspices of the Ministry of Business Development of Ghana, the International Chamber of Commerce (ICC), United Nations Development Programme (UNDP) and Business for Peace Foundation of Norway, seeks to nurture and encourage entrepreneurship and innovation.
The 4BBT programme launch was dubbed, “Post COVID-19 – Rebuilding Global Businesses Together”.
President Akufo-Addo, in his keynote speech, called on financial institutions to examine business models that consider youth entrepreneurs and start-ups as high risk.
He further urged them to provide support for young entrepreneurs to improve economic growth, adding that: “the economic integration of Africa will lay a strong foundation for an African beyond aid”, hence the need to support young entrepreneurs.
According to President Akufo-Addo, the 4BBT programme is very timely for Ghana’s economy because it will complement government’s interventions including its Coronavirus Alleviation Programme (CAP), which offer support to alleviate impacts of COVID-19.
“I am particularly happy that Ghana was chosen for this global initiative… and I thank the organizers including the ICC, UNDP, Business for Peace Foundation of Norway and the Ministry of Business Development for this event which will create a solid platform for discussions on the future of businesses”, he noted
The Minister of Business Development of Ghana, Dr Ibrahim Mohammed Awal, also reiterated the country’s commitment to supporting businesses to recover from the pandemic.
He said, “We are determined to build entrepreneurs who will move Ghana beyond aid,”.
The Prime Minister of Norway and Co-Chair of the SDGs spoke about the importance of investments, especially for businesses in the private sector
“It is truly inspiring that you, together, are driving a programme to help advance investment flows towards the SDGs.
I firmly believe that the private sector knows best what the private sector needs to invest sustainably”, she intimated
The United Nations Resident Coordinator for Ghana, Charles Abani called for continuous commitment towards the achievement of the SDGs.
He disclosed that the UN has reprogrammed about US$90 million of existing funds and is committed to raising an additional US$40 million over the next 12 to 18 months to support of government’s efforts to attain economic stability after COVID-19 is over. He also emphasised the importance of partnerships to help businesses bounce back stronger.
“Partnerships is key to non-business as usual and we must move from funds and giving to investment mindset. The 4BBT kinds of initiatives is critical to galvanizing investments for SDGs attainment”, Mr Abani stated.