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Thursday, March 28, 2024

New initiative to assist Ghanaian start-ups launched in Accra

New initiative to assist Ghanaian start-ups launched in Accra

There is good news for young Ghanaian entrepreneurs who need capital and premium management expertise to expand their businesses or start-ups.

Quick Angels Limited is strategically partnering young businesses and social entrepreneurs with funds and the know-how to propel and turn Ghanaian enterprises around.

Beneficiaries will among other things access start-up and early-stage equity financing.

Speaking at its launch in Accra, the Chief Executive Officer of Quick Angels, Richard Nii Armah Quaye, said the reliance on government support is obviously not enough to position the growing number of entrepreneurs, for which reason the private sector has to get involved.

“For how long will we allow young entrepreneurs go through these challenges? How long will we allow what will otherwise be the next generation of champion entrepreneurs and businesses? Government over the years have been making some efforts towards assisting and providing some support. However, this cannot be enough and such responsibility cannot be left on the shoulders of government alone, as this has never been the case for developed economies.”

“I, therefore, say to all my fellow Ghanaians with entrepreneurial dreams, smart business ideas and struggling early-stage businesses that, regardless of what industries you find yourself or intend to operate, we are ready to do this together with you”, he said.

Mr. Quaye with the CEO of NEIP

On his part, Chief Executive Officer of the National Entrepreneurship and Innovation Plan, NEIP, John Kumah, advised start-ups to take advantage of Quick angels initiative that will assist government’s entrepreneurial vision rather than seeking financial support from microfinance companies and banks that will collapse their businesses with their high interest on loans.

“As for microfinance, it’s a no-go zone for start-ups in the country. They are going to kill your business the moment you take a loan of 5 percent. The banks are also slowing people down because they are asking for collateral which the start-ups don’t have. So Quick Angels has come at the right time for many start-ups to scale up in the country.”

About the company

Quick Angels will drive innovative commercial ‘Angel Investments’ that seek to propel Ghanaian start-ups and also restoring promising businesses through strategic partnership that exceed expectations.

Its main objective is to prevent business ideas from dying due to lack of funds and expertise to enhance job creation and economic growth.

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