The Ministry of Business Development has held the 3rd edition of the Presidential Pitch with Douglas Akolgo from Bongo in the Upper East Region winning the ultimate.

Wednesday's event saw the 26-year-old CEO of Zoyana Enterprise running away with  Ghc100,000 prize money after being adjudged the overall best out of 10 finalists.

Zoyana Enterprise converts tenants of processed Shea butter into other products such coal, tar, shampoo and anti-dundruff products.

An amount of Ghc 70,000 was up for grabs for the 100 applicants who participated in the competition but President Akufo Addo added his personal Ghc 30000 as a form of motivation to the winner.

The winner is also slated  for a fully funded study programme outside the country.

Mr Theophilus Domenyo, whose enterprise is into the production of an eco-friendly mosquito repellent, and Mr Cornelius Nyobator, who produces organic herbicides, came second and third, received GH¢60,000 and GH¢50,000, respectively.

An amount of  GH¢1 million was presented to the 20 young entrepreneurs in the Season Three of the Presidential Pitch, which is an initiative of the Ministry for Business Development.

Addressing the programme held at the Movenpick Hotel in Accra, President Akufo-Addo express his happiness over the success of the initiative which has created employment for the Ghanaian youth.

He praised the two previous winners of the pitch, who according to President Akufo-Addo, have, just like their counterparts, found creative ways of investing their cash prizes to scale-up their businesses, and created jobs.

“That is why I am happy that, under Seasons One and Two of the Presidential Pitch, four hundred and sixty (460) direct and many more indirect jobs have been created with majority of these jobs in rural communities, he said.

“In particular, I want to single out the Chief Executive Officer of Kawa Moka, Ms. Emi-beth Quantson, and the CEO of Everyday Chicken, Ms. Yaa Asare, who have together created, in all, two hundred and thirty-two (232) jobs”.

“Clearly, our young men and women can be a positive force for development, when provided with the knowledge, skills and opportunities they need to contribute to the growth of a productive economy."

He expressed confidence in the Ghanaian and said given “the sheer energy and can-do spirit of the Ghanaian” and the calibre of the new contestants, he believed the future of the Ghanaian private sector was extremely promising.

He applauded the 10 finalists for their efforts and said “the forward-looking programme was made possible by the resourcefulness and dynamism of the Minister of Business Development, Dr Ibrahim Mohammed Awal”.

In all, 100 applicants from across the country were shortlisted, after which 20 were selected. The 10 finalists were later picked from the 20.