Government launches business and employment assistance program to support young entrepreneurs and create jobs

The Government of Ghana, through the Youth Employment Agency (YEA), has introduced the Business and Employment Assistance Programme to provide financial support to 10,000 businesses owned by young Ghanaian entrepreneurs and offer job opportunities for 20,000 youth. This initiative aims to mitigate the economic challenges faced by businesses amid the global economic downturn.

Vice President Bawumia, speaking at the programme's launch in Sunyani, highlighted the government's commitment to supporting the youth and fostering economic development.

He emphasized the importance of the youth to the nation's economy, stating, “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.”

The Business and Employment Assistance Programme, implemented through the YEA, will specifically target Micro, Small, and Medium Scale Enterprises (MSMEs) to facilitate their growth and provide financial support to skilled workers.

The programme also aims to enable young entrepreneurs to expand their businesses and cover salaries for additional employees.

Vice President Bawumia discussed various youth interventions, including the successful piloting of the YouStart programme, which disbursed GHS100 million in the current year alone.

Other initiatives involve the engagement of 21,000 youth in the YEA's Community Police Assistants and Community Health Workers Module, with an additional 2,000 in the Youth in ICT Module in collaboration with the Ghana Digital Centre Ltd.

The partnership between the YEA and the National Entrepreneurship and Innovation Programme has trained 15,000 Ghanaian youth in business skills, corporate compliance, and financial sustainability practices.

The Ministry of Food and Agriculture is also involved in engaging 20,000 youth under Phase Two of the Planting for Food and Jobs (PFJ).

Furthermore, the YEA, in collaboration with the Ghana TVET Service and the Ghana Energy Commission, plans to train 20,000 artisans in various fields, providing certification and the necessary tools for them to establish their enterprises.

Kofi Agyapong, the CEO of the YEA, affirmed the agency's commitment to strengthening existing modules and creating more opportunities to fulfil its mission of job creation for the youth.