Ghana is working with the World Bank to secure some $150mn to accelerate the implementation in 2024 of the YouStart initiative aimed at supporting youth entrepreneurial programmes, Finance Minister Ken Ofori-Atta has announced.
“All is set to accelerate the implementation of YouStart in 2024. We are working with our partners, the World Bank, to secure financing worth $150mn. On our own, we are committing GHS200mn ($16.7mn) to ensure that more young persons are supported into entrepreneurship,” the minister announced on November 15 when he presented the budget statement for the coming year.
YouStart initiative seeks to help young entrepreneurs gain access to capital, market, training and technical skills, compliance and quality assurance support, and business development support services to enable them to start, build and grow businesses.
According to Ofori-Atta, as of October, a total of 23,695 beneficiaries comprising 5,183 men and 18,512 women had completed the Basic Level training by the Ghana Enterprises Agency (GEA) under the YouStart Jobs and Skills project. Out of this number, 7,975 (2,474 men and 5,501 women) progressed and completed the Intermediate Level training, with 4,514 beneficiaries (1,679 men and 2,835 women) also progressing to the Advanced Level.
“GEA has commenced disbursement of grants to beneficiaries who have completed the Intermediate and Advanced Levels. Evaluation of the grant proposals is currently ongoing. It is expected that at least 5,000 of the 1st batch of beneficiaries would be supported with startup grants,” Ofori-Atta further added.
Launched last year, the YouStart programme forms part of the government agenda to build an entrepreneurial nation and youth-led job creation.
Source: Daily Mail GH