Vice President Dr. Mahamudu Bawumia announced that the recently launched Business and Employment Assistance Programme will help about 10,000 businesses owned by young entrepreneurs and 20,000 youth, as part of a calculated move to lessen the economic impact of the global crisis on Ghanaian businesses and youth employment.
The Youth Employment Agency (YEA) is the program’s driving force. Its objectives are to create job opportunities and provide support for young Ghanaian entrepreneurs.
Ghanaian businesses have been impacted by the global economic crisis, which has prompted the government to step in and offer vital support.
The YEA’s flagship program, the Business and Employment Support Programme, will help Micro, Small, and Medium-Sized Enterprises (MSMEs) financially while also giving young people job opportunities. Succeeding business applicants will get funding to grow and maintain their businesses, which will allow them to pay the young people who have just started jobs.
Dr. Bawumia stressed the value of assisting the youth and reaffirmed the government’s commitment to providing opportunities for young Ghanaians in business and employment during the program’s launch in Sunyani on December 11, 2023.
“I am particularly excited about the relief this initiative will provide to the Ghanaian youth. The youth of this country are our greatest resource, and it is our collective duty to ensure that they are well positioned to make significant contributions to the economic development of our dear nation,“ Dr. Bawumia stated.
The government launched the YEA, which includes the Business and Employment Assistance Programme, as part of a series of initiatives aimed at supporting businesses and creating jobs. Dr. Bawumia emphasized the YouStart program’s successful piloting, which saw the distribution of GH 100 million Cedis this year, as well as other interventions like recruiting 21,000 young people to serve as Community Police Assistants and Community Health Workers.
In addition, partnerships with the National Entrepreneurship and Innovation Programme have trained 15,000 young Ghanaians in corporate compliance, financial sustainability, and business skills. Phase 2 of the Planting for Food and Jobs program will involve 20,000 youth, according to the Ministry of Food and Agriculture.
Looking ahead, the YEA intends to train 20,000 artisans in a variety of fields, offering certification and the required tools and equipment for them to launch their businesses in collaboration with the Ghana TVET Service and the Ghana Energy Commission.
The YEA’s Chief Executive Officer, Kofi Agyapong, reaffirmed the organization’s dedication to enhancing current programs and expanding opportunities in order to fulfill its goal of giving young people jobs.
