The Association of Ghana Startups has urged President-Elect John Dramani Mahama to prioritize the passage of the Ghana Innovation and Startup Bill within his first six months in office.
Why it matters
The bill is seen as a critical framework for fostering innovation, economic growth, and job creation in Ghana’s burgeoning tech ecosystem, particularly in sectors like Fintech and Agritech.
What they’re saying
- Solomon Adjei, President of the Association, emphasized that passing the bill is key to fulfilling the NDC’s 2024 manifesto promises on technology-driven development and tackling youth unemployment.
- “The Association of Ghana Startups is committed to collaborating with the next administration to ensure the passage and implementation of this bill, which will position Ghana as a leading hub for entrepreneurship and innovation in Africa”, Adjei said.
The big picture
- Regional trends: Tunisia led the charge with a startup act in 2018, followed by Senegal, Nigeria, and Togo. Côte d’Ivoire, Kenya, South Africa, Rwanda, and Uganda are drafting similar bills.
- AU influence: Earlier this year, the African Union released a policy framework urging member states to enact startup bills to drive innovation.
The Ghana context
A draft of the Ghana Innovation and Startup Bill was developed in 2020 by a technical working committee comprising stakeholders like the National Entrepreneurship and Innovation Program (NEIP) and Ghana Hubs Network.
The bill includes provisions for:
- Startup definition: Establishing clear criteria to ensure tailored support.
- Funding: Proposing a Ghana Innovation and Startup Fund for early-stage ventures.
- Capacity building: Offering mentorship, training, and R&D opportunities.
- Economic resilience: Providing mechanisms like failure relief and employment support.
The state of play
The bill is in its final stages, awaiting submission to the Cabinet for approval.
What’s next
- Adjei called on the Mahama administration to prioritize the bill, stating, “This policy framework will position Ghana as a leading hub for entrepreneurship and innovation in Africa.”
- He reiterated the Association’s commitment to collaborating with the government to ensure its passage and implementation.
The bottom line
If passed, the Ghana Innovation and Startup Bill could be a transformative step in creating a supportive environment for startups and boosting the country’s economic development.
