The Association of Ghana Startups has called on President-Elect John Dramani Mahama to prioritize passing the Ghana Innovation and Startup Bill within his first six months in office.
In a statement, the association’s president, Solomon Adjei, appealed to the National Democratic Congress (NDC) to honour its 2024 manifesto promise of fostering innovation, economic growth, and job creation through sectors like Fintech and Agritech.
He emphasized that passing the bill would be a transformative step for promoting startup growth and entrepreneurship, aligning with the aspirations of Ghanaian youth and small business owners.
“The Startup Act is a proven strategy many countries adopt to create an enabling environment for innovative startups and drive local economic growth,” the statement read.
The proposed Ghana Innovation and Startup Bill aims to establish a clear framework for supporting startups by providing access to funding, capacity building, research and development, and market linkages.
A key component of the bill is the creation of the Ghana Innovation and Startup Fund to provide patient capital for early-stage ventures.
It also includes provisions for training, mentorship, employment support, and mechanisms to help startups navigate challenges and remain competitive globally.
He highlighted the urgency of the bill, noting that other African nations, such as Tunisia, Senegal, and Nigeria, have already passed startup acts, with countries like Kenya and Rwanda at advanced stages of drafting theirs.
He urged Ghana to catch up, emphasizing that the bill would position the country as a leader in Africa’s startup ecosystem.
The technical working committee behind the bill, comprising stakeholders from the National Entrepreneurship and Innovation Program (NEIP), Ghana Hubs Network, Young Entrepreneurs Chamber, and others, has produced a comprehensive draft following extensive consultations.
The bill is now in its final stage, awaiting submission to the cabinet.
Mr Adjei concluded by reaffirming the association’s commitment to collaborating with the incoming administration to ensure the bill’s passage and implementation, saying, “This will position Ghana as a leading hub for entrepreneurship and innovation in Africa.”
He added, “With the passage of this bill, Ghana will experience unprecedented growth in innovation and startup development, creating jobs and driving economic transformation.”
