President Nana Addo Dankwa Akufo-Addo will on August 1, 2018 award 1,300 entrepreneurs under the National Entrepreneurial Innovative Plan (NEIP) in order to grow businesses in Ghana.

The Chief Executive officer of NEIP, John Kumah, said the Presidential disbursement of funds was to provide financial support for individuals and businesses to expand.

The support, he explained, was not a grant but a loan with a low interest of 10 percent, repayable within three years to enable beneficiaries to expand and create more businesses.

He said the disbursement was expected to be in three phases; the Southern, Middle and Northern. The southern disbursement would be done by President Akufo-Addo, while the middle one would be done by the Asantehene Otumfuo Osei Tutu with the Northern disbursement to be done by the Vice President, Dr Mahamudu Bawumia.

In an interview with the GNA, Mr Kumah said over 7000 individuals and businesses had been taken through the various business hubs and training under the programme, adding that, many more would be trained after August 1.

The programme is a flagship policy initiative of the government with the primary objective of providing an integrated national support for start-ups and small businesses.