Ghanaian government, through the Ghana Enterprises Agency (GEA), has distributed GH¢51,866,369.31 to 4,173 young entrepreneurs as part of the YouStart Ghana Jobs and Skills Project (GJSP). Beneficiaries from all 16 regions were selected through a thorough screening process.
In an interview on Asempa FM’s Ekosii Sen, GEA’s Chief Executive Officer, Mrs. Kosi Yankey-Ayeh, applauded the initiative as a clear demonstration of the government’s dedication to fostering entrepreneurship. She highlighted that, in addition to financial support, beneficiaries also received mentorship and training in various districts.
According to Mrs. Yankey-Ayeh, some entrepreneurs were granted up to GH¢30,000, with support extended to both new startups and those looking to expand existing businesses. She emphasized that applicants were required to submit business plans, which were evaluated by an independent committee to ensure a fair selection process.
“This is the third and largest phase of disbursement. There will be monitoring, along with mentoring, to ensure beneficiaries use the support appropriately. We need to track job creation,” she said.
Mrs. Yankey-Ayeh dismissed claims that the recent disbursement, made just 24 days ahead of the December 7 election, was a political move or an attempt to influence votes.
The YouStart initiative, a component of the Ghana CARES program, is designed to reduce barriers for young entrepreneurs, with the overarching goal of creating three million job opportunities over the next three years.
In the 2023 Budget, presented to the Parliament of Ghana on November 24, this year’s Finance Minister, Mr. Ken Ofori Atta, stated that the government was taking action to address the “daunting economic difficulties facing our nation head-on and reset the economy.”
However, a significant portion of Kumasi residents felt that a hiring freeze and the absence of new government agencies in 2023 were the wrong moves because more young people were still looking for work in the public sector despite the emergence of some private organisations.
Reacting to the news in an interview with the Ghana News Agency in Kumasi, Ms Mary Osae, a National Service Personnel pointed out that the decision by the government had demoralised most of the national service persons, since some of them had hoped to be retained at the government institutions they were currently serving in.
She explained that, “I am in no way linked to the government’s new models YouStart, Economic Enclaves, 1D1F among others, because the course I studied at the tertiary level has no bearing with these interventions.
‘I was hoping I could be retained at where I am serving now,” she sighed.
Maame Yaa Serwaa, a trader at Adum, had the fear that the public sector employment freeze could arouse a lot of criminal and indecent activities since it was the youth that would be affected most.
She suggested that, the government channelled more funds to support job creation in the public and civil sectors, where most jobs were permanent and secured.
Mr Joseph Dogbey, a graduate nurse awaiting his postings expressed fear of the government suspending postings of trainee nurses.
He told the GNA that, he had been waiting for his postings since 2020, and the decision by the government was giving him no hope of a job any time soon.
According to Mr Ofori Atta, “the government cares deeply about our people, and is very much concerned about their current plight and the future of our country.
The 2023 Budget has been prepared with high consideration for the aspirations of Ghanaians and the brighter prospects of our economy to transition into Upper Middle Income within a decade, he stated.
Other people who spoke to the GNA on the general overview of the 2023 Budget, however, said nothing in the budget presented depicted a true path of progression for Ghana.
They said since the cedi continued to depreciate, the agenda of mobilizing the domestic revenue with increasing the VAT rate by 2.5 percent among other adjustments, were still going to affect the people’s socio-economic lives.
He claims that the government has also given recipients of the scheme GH1.98 million in support.
When Ken Ofori-Atta delivered the 2023 budget statement to the House of Representatives, he noted that the money was given to SMEs in the poultry, agro-processing, ICT, textiles, and food processing industries that were led by young people (under the age of 40).
“Mr Speaker, a launch for the District Entrepreneurship Programme (DEP) component of the programme was held on 14th November, 2022 and it is expected that the launch of the Commercial component of the Programme will occur by the end of 2022 to enable qualified beneficiaries access support,” he stated.
One District One Factory (1D1F).
To date, he said a total of 296 1D1F projects were at various stages of implementation, out of which 126 were currently operational, 143 were under construction, and 27 were pipeline projects.
He added that government would in 2023 intensify support to existing and new manufacturing enterprises with technical assistance, credit facilitation, and access to electricity and other infrastructure.
The YouStart initiative, which was piloted by the government, is part of efforts to address the high unemployment rate in Ghana.
The objective is to build an entrepreneurial nation and create at least 1 million jobs for the youth in the next 3 years (2022–2025).
Government will, through the initiative, support these beneficiaries to gain access to capital, training, technical skills and mentoring to enable them to launch and operate their own businesses under the initiative.
The programme will also provide district-level loans of up to GH¢10,000 to beneficiaries.
The initiative established by the Akufo-Addo-led government that sought to address graduate unemployment ended on Thursday, September 1, 2022, rendering over 57,000 citizens jobless.
Meanwhile, the Finance Minister has indicated that all hope is not lost for these individuals.
The YouStart programme, according to the Finance Minister, Ken Ofori-Atta, is part of NABCO’s exit plan.
He said the programme is a vehicle through which the government intends to provide funding and technical support to youth and youth-led businesses to assist them in building and growing their own businesses.
The government will on Monday (November 14, 2022) launch the YouStart Ghana Jobs and Skills Application portal which will receive applications from potential beneficiaries of a GH₵1 billion entrepreneurship fund.
YouStart seeks to support young entrepreneurs to gain access to capital, training and technical skills that will enable them start, build and grow their own businesses.
It targets young people and students between the ages of 18-35 years who have brilliant business ideas and viable businesses and supports these individuals to nurture, grow and expand their businesses and job creation in the economy.
The government through the YouStart programme intends to build an entrepreneurial nation by providing some of the key enablers that make entrepreneurship a success. These include access to finance and markets, mentorship, strategic partnership and digital linkages, technical assistance and business advisory support service.
Given the high rate of youth unemployment in the country, Government intends to use the YouStart programme to create more jobs for the economy and to support the expansion and growth of Ghanaian businesses within the next three years. YouStart is being funded by proceeds from the Electronic Transfer Levy (E-Levy).
In January this year, President Nana Addo Dankwa Akufo-Addo urged the youth to take advantage of the initiative which he said would create 1 million jobs in the next three years.
In an address at the 73rd annual New Year School and Conference, President Akufo-Addo said YouStart was the most comprehensive initiative to provide an effective solution to the country’s youth unemployment challenge.
“It will support young entrepreneurs to gain access to capital, training, technical skills and mentoring to enable them to launch and operate their own businesses as well as employ others,” President Akufo-Addo said.
He said under the initiative young entrepreneurs could apply for support through a dedicated YouStart online portal.
The support that will be offered as part of the programme includes; skills training and development, entrepreneurial support, business advisory services, competitive credit and starter packs as well as mentoring and access to markets.
Successful applicants
President Akufo-Addo said successful applicants of the YouStart programme will be eligible for starter packs including soft loans ranging from GH₵10,000 to GH₵50,000 as well as standard loan packages of between GH₵100,000 and GH₵400,000 at concessional rates.
“Successful applicants will be eligible for soft loans of up to GH₵50,000 to help start-ups, young graduates, school leavers and small businesses to expand,” he said.
“Starter packs for equipment acquisition) of up to GH₵50,000 for individuals and GH₵100,000 for associations and groups. A standardised loan package of between GH₵100,000 to GH₵400,000 at concessional rates for SMEs through financial institutions”.
The government’s YouStart entrepreneurial program will be supported thanks to a contract signed by Access Bank Ghana and the Ministry of Finance.
This is in keeping with the Bank’s objective to helping SMEs grow and be in a position to sustainably assist Ghana’s economy.
The YouStart initiative is a means by which the government of Ghana plans to give money and technical assistance to young people between the ages of 18 and 40 and youth-led businesses.
The intervention’s goal is to help people establish, expand, and run their own enterprises.
Through this programme, the government intends to commit about GHS10 billion over the next 3 years through the assistance of banks, towards the creation of at least a million jobs in the economy.
Explaining the bank’s decision to come on board the initiative, the Executive Director for Wholesale Banking at Access Bank Ghana, James Bruce who spoke on behalf of Access Bank Ghana’s Managing Director, Olumide Olatunji, intimated that Access Bank Ghana has been a strong pillar of support to SMEs over the years and will not relent in its efforts to see the sector continually thrive.
“Access Bank’s SMEs’ focus has over the past few years revolved around boosting the capacity of SMEs on digitalization, providing business advisory services, facilitating networking opportunities for them through workshops and clinics and ultimately providing funds for them”.
He noted that within the past two years, Access Bank Ghana has advanced about GHS 50 million to SMEs in Ghana to boost their capital. The bank has also championed several programmes geared towards building resilient SMEs such as SME Clinics and Capacity Building Workshops on digitalization across the country, the Business startup Challenge, and Womenpreneur Pitchaton platforms that nurture startups and entrepreneurs with creative ideas to get funding. “Our support to YouStart therefore further entrenches our belief in the sector and desire to push them to succeed”, he added.
As a go-to bank for SMEs, Access Bank Ghana remains committed to its promise of providing more than banking to customers. Over the years, the bank has developed a deep understanding of its customers, delivering excellent services and empowering them to achieve more through financial inclusion leading to several awards including the Most Innovative SME Banking Brand in 2022.
The Ghana Association of Bankers (GAB) and 13 top banks have inked a contract with the government for the YouStart Commercial Programme with a total commitment of GH10 billion.
YouStart will act as the primary engine for creating one million jobs over the course of the next three years thanks to the three-year commercial initiative, which has a commitment of GH10 billion.
In order to support young people (18 to 40 years old) and youth-led firms in starting, growing, and expanding their own businesses, the government created YouStart.
District Entrepreneurship, Commercial, and Grace are the three programs that serve as the cornerstone of YouStart’s strategy for lowering unemployment in Ghana.
At the YouStart Commercial Programme’s signing ceremony with the banks, Ken Ofori-Atta, Finance Minister, said the commitment of GH¢10billion in this three-year programme is daring and will enable government to take a ‘big bite’ out of the enormous problems the country faces.
“So never in our history have we made such a bold commitment like a GH¢10billion three-year programme to see how we can really take a big bite out of the enormous problems that we have which can lead to very unsettling circumstances in the future, or radicalisation and all of that,” he said.
According to the Ghana Statistical Service, the unemployment rate for people between the ages of 15 and 35 is 19.7 percent. Even among individuals who appear to be employed, 50 percent are categorised as underemployed.
The finance minister emphasised the urgent necessity for these institutions to continue providing affordable capital, notwithstanding the risk to stability of the banking system.
Financing Arrangement
The Commercial Programme will provide Programme recipients with a conventional loan product from Participating Financial Institutions (PFIs) ranging from GH¢100,000 to GH¢500,000 to support working capital needs, demands for business expansion and the acquisition of equipment or machinery.
The banks will use their own internal sales channels to sell the standardised loan products (also known as ‘white label’ products) at a pre-set interest rate. The loan product, the loan application process, and the loan requirements will all be standardised by government and the Ghana Association of Banks (GAB).
Under the GH¢10billion, government will contribute a portion of the programme money to the commercial programme, and the PFIs will be expected to match government’s funds based on an established ratio and a planned standardised product.
In order to encourage the development of sustainable businesses, the National Banking College will also complement this offering by providing training in entrepreneurship and fundamental financial literacy to young business owners.
“From the Programme’s early days, I maintained that we could not move forward without the full support of our PFIs. Truly, we must all work together (public and private sectors) to ensure we create a culture and mindset that leaves our young people unafraid to challenge themselves,” the finance minister noted.
In an effort to deepen the relationship between the government and the party, Mustapha Ussif, the minister of youth and sports, recently paid a visit to the NPP’s national headquarters.
It also fits into the party’s efforts to mobilize its membership for a third straight electoral victory in 2024 and to “break the eight,” as the catchphrase goes, by bridging the gap between government appointees and party officers.
During the conversations, Mr. Ussif said that approximately 75% of the 31.8 million people in the nation were under the age of 25, which fueled the government’s resolve to enact many youth-focused reforms.
Interventions
He mentioned that interventions such as YouStart, Green Ghana, various modules of the Youth Employment Agency and the Commission for Technical and Vocational Education and Training (COTVET) had led to employment, training, capacity building and the provision of financial support to the country’s youth.
The Youth and Sports Minister, therefore, encouraged the party to liaise with the appropriate government officials and agencies supervising these youth- centred interventions to ensure their success.
Mr Ussif further encouraged the party to emulate the youth structures of South Africa’s ruling African National Congress which, he said, had been crucial to the party’s long stay in power.
Way forward
The General Secretary of the Party, Justin Frimpong Kodua, who received the minister on behalf of party headquarters, reiterated the point that this initiative of holding regular party-government meetings would be replicated across the country, particularly in the regional capitals.
That, he said, was to provide a platform for government appointees, particularly ministers of state and chief executive officers (CEOs) to interact with party officers and grassroots.
As part of this initiative, the party headquarters have witnessed visits over the previous weeks by some government appointees, including the CEO of Ghana Water Company Limited, Dr Clifford Braimah, and the Minister for Lands and Natural Resources, Samuel Abdulai Jinapor.
Other appointees are expected to have their turn in the coming weeks.
Gabby Otchere-Darko, the founder of the Danquah Institute (DI) and a prominent figure in the ruling New Patriotic Party (NPP), has stated that the administration and the Ministry of Finance (MoF) deserve praise for the way they have managed the nation’s economy despite the ongoing difficulties.
Following the government’s signature of an agreement with 13 Participating Financial Institutions, Mr. Otchere-Darko made this statement (PFIs).
The GH10 billion YouStart entrepreneurship program’s commercial component will be implemented with the help of the deal.
According to the DI founder, government deserves commendation because in spite of the challenges, salaries are still being paid and the various interventions by government have not been altered.
In a tweet on Thursday, 22 September 2022, Mr Otchere-Darko said: “The Akufo-Addo government and in particular, MoF, deserve the nation’s commendation for their handling of the economy in these most challenging times.
“Despite slump in revenues, bills are being paid, including salaries, roads being fixed, & money found for programmes like YouStart.”
Thirteen Participating Financial Institutions (FPIs) and the Ghana Association of Banks (GAB) have offered to contribute GH¢5 billion to the YouStart programme, the government’s entrepreneurial initiative.
Through the partnership, the PFIs would provide a loan facility of about GH¢5 billion in the next three years, ranging from GH¢100,000 and GH¢500,000 to businesses under the programme.
YouStart is an initiative through which the government intends to provide funding and technical support to youth and youth-led businesses to assist them in starting, building, and growing their own businesses.
The Finance Minister, Mr Ken Ofori-Atta, who disclosed this during the signing of agreements with the Participating Financial Institutions (PFIs) of the YouStart programme in Accra on Tuesday, said the government would provide GH¢3 billion while development partners provide GH¢2 billion to support the implementation of the programme.
The funds would be used to meet the working capital requirement of businesses, support their expansion needs and purchase of equipment or machinery to enhance productivity and create more well-paid jobs, especially for the youth.
Minister of Finance, Ken Ofori-Atta, stated during his speech at the programme that the signing of the agreement demonstrated the government’s and the private sector’s commitment to strengthening links between education and job market stakeholders.
In addition to giving young Ghanaian entrepreneurs access to capital, training, and markets, he explained that the partnership would also enable the private sector to produce more respectable and long-lasting employment.
“Fundamentally, we had to adopt this approach because the pandemic taught us, we must re-orient our approach towards structural transformation and react with a clear plan to reap the benefits of our population dividend by building an Entrepreneurial State,” Mr Ofori-Atta said.
The partner banks are GCB Bank Plc, Absa Bank Ghana Limited, Access Bank Ghana Plc, Ecobank Ghana Plc, FBNBank Ghana Limited, Fidelity Bank Ghana Limited, and Universal Merchant Bank.
The others are Consolidated Bank Ghana Limited, CalBank Plc, OmniBSIC Bank Ghana Limited, Zenith Bank Ghana Limited, Bank of Africa Ghana Limited, ARB Apex Bank and GAB.
Mr. Ken Ofori-Atta noted that the three components of the YouStart programme (Commercial, module, District Entrepreneurship and YouStart Grace Modules) where to ensure that “no one is left behind in building Ghana as an entrepreneurial nation.
Deputy Minister of Finance, Dr John Ampontuah Kumah, adding his voice, said the partnership was critical in the Government’s quest to build future entrepreneurs and make Ghana an entrepreneurial State.
He explained that the YouStart programme was to deliberately grow start-ups and make them contribute to the government’s agenda of creating three million jobs, but depend largely on the support of banks.
He, therefore, urged the PFIs to sustain their support for the programme and ensure its extension to entrepreneurs with businesses in rural areas to help create jobs and uplift many living in those areas from poverty.
The Chief Executive Officer of GAB, John Awuah, said the YouStart was “a positive development.”
He added that “Part of the COVID-19 pandemic has taught us that we need to have a home- grown economy, one that is owned and managed by Ghanaians.”
This signing serves as confirmation that the public and private sectors can collaborate to build the entrepreneurial nation that we have all been longing for, Mr. Awuah said.
He noted that the Banks had worked with the Finance Ministryto design the YouStart programme to help propel businesses forward, particularly younger and smaller businesses.
Providing a brief on the programme, Mr Andy Ameckson, Acting Coordinator, YouStart, said under the commercial part, Banks would provide loans to beneficiary businesses at interest rates lower than the market rate.
“There will not be any collateral for businesses to access loans under the programme, and the recovery is also dependent on the beneficiaries,” Mr Ameckson pointed out.
The pilot phase of the YouStart programme was implemented in February 2022, involving 85 young entrepreneurs, and currently awaiting the availability of the President for the launch and full-scale implementation of all three modules.
YouStart is a programme that seeks to support young entrepreneurs to gain access to capital, training and technical skills that will enable them to start, build and grow their own businesses.
This initiative targets young people and students between the ages of 18-35 years who have brilliant business ideas and viable businesses, to support these individuals to nurture, grow, and expand their businesses and create jobs in the economy.
Government, through the YouStart programme, intends to build an entrepreneurial nation by providing some of the key enablers that make entrepreneurship a success.
These include, access to finance and markets, mentorship, strategic partnerships and digital linkages, technical assistance; and business advisory support service.
The Ghana Enterprises Agency (GEA) and National Entrepreneurship and Innovation Programme (NEIP) are the implementing agencies of the programme, whose goal is to create a Wealthy, Inclusive, Sustainable, Empowered and Resilient (WISER) society.
They would be supported by the National Youth Authority, Ghana Technical and Vocational Education and Training (TVET) Service, and Nation Builders Corps (NABCo).
The Nation Builders Corps (NABCo), which was introduced by the government on Tuesday, May 1, 2018 to temporarily address graduate unemployment, officially ended on September 1, 2022.
However, the finance minister, Ken Ofori-Attahas admonished the NABCo trainees to take advantage of the government’s flagship YouStart programme.
He claims that through supporting these start-ups, the numerous young people who are unemployed will be given jobs.
According to a 3news article, the Deputy Finance Minister made this statement during the signing ceremony with 13 Participating Financial Institutions (PFIs) to support the YouStart program.
The Government has signed an agreement with 13 Participating Financial Institutions (PFIs) to support the implementation of the commercial part of the GHS10 billion YouStartentrepreneurship programme.
Through the partnership, the PFIs would provide a loan facility of about GHS5 billion in the next three years, ranging from GHS100,000 and GHS500,000 to businesses under the programme.
The funds would be used to meet the working capital requirement of businesses, support their expansion needs and purchase of equipment or machinery to enhance productivity and create more well-paid jobs, especially for the youth.
Mr Ken Ofori-Atta, the Minister of Finance, signed for the Government, with Managing Directors of the 13 PFIs signing for their respective banks.
Mr John Awuah, the Chief Executive Officer (CEO), Ghana Association of Bankers (GAB), signed for the coordinating institution of the PFIs, which is GAB.
In his speech at the programme, Mr Ken Ofori-Atta, Minister of Finance, said the signing of the agreement showed the commitment on the part of the Government and the private sector to strengthen links between education and job market stakeholders.
He explained that the partnership would provide access to finance, skills, and markets for young Ghanaian entrepreneurs and increase the ability of the private sector to create decent and sustainable jobs.
“Fundamentally, we had to adopt this approach because the pandemic taught us, we must re-orient our approach towards structural transformation and react with a clear plan to reap the benefits of our population dividend by building an Entrepreneurial State,” Mr Ofori-Atta said.
He noted that the three components of the YouStart programme (Commercial, module, District Entrepreneurship and YouStart Grace Modules) were to ensure that “no one is left behind in building Ghana as an entrepreneurial nation.
Dr John Ampontuah Kumah, the Deputy Minister of Finance, said the partnership was critical in the Government’s quest to build future entrepreneurs and make Ghana an entrepreneurial State.
Dr Kumah said the YouStart programme was to deliberately grow start-ups and make them contribute to the Government’s agenda of creating three million jobs but depend largely on the support of banks.
He, therefore, urged the PFIs to sustain their support to the programme and ensure its extension to entrepreneurs with businesses in rural areas to help create jobs and uplift many living in those areas from poverty.
The CEO of GAB, told the Ghana News Agency that the banks saw the support as a responsibility to help grow businesses with financial and other needed support to build the economy.
“Part of the COVID-19 pandemic has taught as that we need to have a homegrown economy, one that is owned and managed by Ghanaians. This signing is an attestation that the public and private sector can work together to create value and the entrepreneurial nation we’ve all been yearning for,” Mr Awuah said.
He noted that the Banks had worked with the Finance Ministry to design the YouStart programme to help propel businesses forward, particularly younger and smaller businesses.
“It is a positive development. We only must ensure that what we’ve put on paper, when it gets to execution, we all come to the table in a way the agreement has been signed,” Mr Awuah encouraged.
Providing a brief on the programme, Mr Andy Ameckson, Acting Coordinator, YouStart, said under the commercial part, Banks would provide loans to beneficiary businesses at interest rates lower than the market rate.
“There will not be any collateral for businesses to access loan under the programme, and the recovery is also dependent on them [beneficiaries],” Mr Ameckson pointed out.
The pilot phase of the YouStart programme was implemented in February 2022, involving 85 young entrepreneurs, and currently awaiting the availability of the President for the launch and full-scale implementation of all three modules.
The Ghana Enterprises Agency (GEA) and National Entrepreneurship and Innovation Programme (NEIP) are the implementing agencies of the programme, whose goal is to create a Wealthy, Inclusive, Sustainable, Empowered and Resilient (WISER) society.
They would be supported by the National Youth Authority, Ghana Technical and Vocational Education and Training (TVET) Service and Nation Builders Corps (NABCO) in its roll-out.
Through the arrangement, the PFIs would offer firms participating in the scheme loans ranging between GH100,000 and GH500,000 totaling around GH5 billion over the following three years.
The money would be used to purchase equipment or machinery to increase production and generate more high-paying jobs, particularly for young people, as well as to support firms’ requirements for expansion.
Mr John Awuah, the Chief Executive Officer (CEO), Ghana Association of Bankers (GAB), signed for the coordinating institution of the PFIs, which is GAB.
In his speech at the programme, Ken Ofori-Atta, Minister of Finance, said the signing of the agreement showed the commitment on the part of the Government and the private sector to strengthen links between education and job market stakeholders.
He explained that the partnership would provide access to finance, skills, and markets for young Ghanaian entrepreneurs and increase the ability of the private sector to create decent and sustainable jobs.
“Fundamentally, we had to adopt this approach because the pandemic taught us, we must re-orient our approach towards structural transformation and react with a clear plan to reap the benefits of our population dividend by building an Entrepreneurial State,” Mr Ofori-Atta said.
Dr John Kumah, the Deputy Minister of Finance, said the partnership was critical in the Government’s quest to build future entrepreneurs and make Ghana an entrepreneurial State.
Dr Kumah said the YouStart programme was to deliberately grow start-ups and make them contribute to the Government’s agenda of creating three million jobs but depend largely on the support of banks.
He, therefore, urged the PFIs to sustain their support to the programme and ensure its extension to entrepreneurs with businesses in rural areas to help create jobs and uplift many living in those areas from poverty.
The CEO of GAB, told the Ghana News Agency that the banks saw the support as a responsibility to help grow businesses with financial and other needed support to build the economy.
“Part of the COVID-19 pandemic has taught as that we need to have a homegrown economy, one that is owned and managed by Ghanaians. This signing is an attestation that the public and private sector can work together to create value and the entrepreneurial nation we’ve all been yearning for,” Mr Awuah said.
He noted that the Banks had worked with the Finance Ministry to design the YouStart programme to help propel businesses forward, particularly younger and smaller businesses.
“It is a positive development. We only must ensure that what we’ve put on paper, when it gets to execution, we all come to the table in a way the agreement has been signed,” Mr Awuah encouraged.
Providing a brief on the programme, Mr Andy Ameckson, Acting Coordinator, YouStart, said under the commercial part, Banks would provide loans to beneficiary businesses at interest rates lower than the market rate.
“There will not be any collateral for businesses to access loan under the programme, and the recovery is also dependent on them [beneficiaries],” Mr Ameckson pointed out.
The pilot phase of the YouStart programme was implemented in February 2022, involving 85 young entrepreneurs, and currently awaiting the availability of the President for the launch and full-scale implementation of all three modules.
The Ghana Enterprises Agency (GEA) and National Entrepreneurship and Innovation Programme (NEIP) are the implementing agencies of the programme, whose goal is to create a Wealthy, Inclusive, Sustainable, Empowered and Resilient (WISER) society.
They would be supported by the National Youth Authority, Ghana Technical and Vocational Education and Training (TVET) Service and Nation Builders Corps (NABCO) in its roll-out.
