Vice President Mahamudu Bawumia has officially launched the $55 million Business in a Box (BizBox) Project, a transformative initiative aimed at equipping Ghanaian youth with entrepreneurship skills for sustainable economic growth.
The project, a collaboration between the Ghana Enterprises Agency (GEA) and the Mastercard Foundation, targets to empower over 250,000 youth with start-up kits and financial resources to create jobs.
The four-year project, beginning this year, plans to provide start-up kits to 125,000 individuals, market access to 50,000 micro, small, and medium-scale enterprises (MSMSEs), and regulatory support to 40,000 businesses across Ghana's 16 regions.
The initiative focuses on youth between 15 and 35 years, with a special emphasis on young women entrepreneurs, Persons with Disabilities (PWDs), and vulnerable groups in 261 metropolitan, municipal, and district assemblies (MMDAs).
Vice President Bawumia, speaking at the national launch held at the University of Professional Studies, Accra (UPSA), emphasized the project's alignment with the government's vision of creating one million additional jobs, building on the success of the ‘Young Africa Works-Youth Entrepreneurship and Employment program (YEEP).'
The BizBox Project aims to empower 250,000 individuals, supporting 125,000 with start-up kits, providing market access to 50,000 businesses, and offering regulatory support to 40,000 businesses.
The project will be executed by the Ghana Enterprises Agency under five pillars: Youth Skills Development, Access to Market, Access to Startup Kits, Youth Social Networks, and Institutional Strengthening, Policy, and Regulatory Support.
Mrs. Kosi Yankey-Ayeh, CEO of the GEA, expressed the agency's commitment to the project's successful implementation, emphasizing collaboration and partnership.
Mr. Kobina Tahir Hammond, the Minister of Trade and Industry, praised the Mastercard Foundation for providing budgetary support for the BizBox Project.
The ceremony, attended by key government officials and Mastercard Foundation representatives, symbolized hope and opportunity for Ghanaian youth, offering tools, knowledge, and support for successful entrepreneurship and economic growth.