Gov’t Gives GHc100million To YouStart Beneficiaries
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The authorities immediately gave yet one more main enhance to its quest to advertise youth entrepreneurship.
This was when Vice President Dr. Bawumia gave a whopping quantity of GHc100 million to beneficiaries of its YouStart Programme.
This got here by means of the Ghana Jobs and Skills Project (GJSP) and the Ghana Economic Transformation Project (GETP) to over 30,000 beneficiaries.
The GJSP and GETP initiatives had been funded by the World Bank by means of the ministries of Finance and Trade and Industry as a part of measures to cushion startups and enterprises adversely affected by the Covid-19 pandemic.
At a signing ceremony in Accra immediately, Vice President Bawumia mentioned the Akufo-Addo-led authorities has created 2.1 million jobs inside the interval of seven years since taking on the reins of governance regardless of the worldwide financial meltdown created by the COVID-19 pandemic and the Russia-Ukraine battle.
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The Vice President famous that over 30,000 younger individuals and MSMEs had already obtained between 4 to 5 days of Business Management Training.
He mentioned the initiatives had been ongoing efforts by the federal government to create an entrepreneurial economic system and switch concepts into tangible outcomes.
In September 2023, he mentioned, the Government by means of the Ghana Enterprises Agency accepted over GHS35 Million to 272 MSMEs below varied parts of the Ghana Economic Transformation Project (GETP).
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Also, between September 2021 to August 2022, authorities was mentioned to have supported over 780 corporations with grant funding of over GHc65 Million additionally below the GETP.
Apart from that, he mentioned there’s a particular grant package deal designed to help and empower Persons with disabilities (PWDs) and that extra entrepreneurs and startups would obtain grant funding in 2024 below the YouStart initiative.
“By the top of those two Projects, the federal government may have supported greater than 50,000 startups and MSMEs with technical and monetary help by means of the Ghana Enterprises Agency.
“This grant funding is not just a monetary transaction; it is an investment in the dreams, aspirations, and potential of the youth,” Dr Bawumia added.
Instead, he indicated that “it is a signal that shows the youth of this great nation that ‘it is possible’” and that “through strategic partnerships and targeted interventions, we are creating an environment of possibilities where ideas flourish, businesses thrive, and individuals find the means to unleash their potential.”
That, he mentioned, “is surely the complementary pathway to nurture and reap the demographic dividend of having a youthful population” insisting “the YouStart Ghana Jobs and Skills Project stands as a beacon of hope and opportunity for the youth of our dear nation.”
His purpose was that “the synergy between capacity-building and grant funding as envisioned in the YouStart Ghana Jobs and Skills Project (GJSP) and the GETP, shows the government’s commitment to comprehensive and holistic enterprise development.”
Ken Ofori-Atta, the Minister of Finance, mentioned the federal government has allotted GHc 200 million in 2024 Budget to help the programmes and soliciting $200 million from the World Bank to make sure steady help and their sustainability.
He expressed authorities’s unwavering dedication to create a conductive surroundings for companies to thrive and make sure that the youth, which constituted 75 p.c of the inhabitants flip their concepts into tangible outcomes.
By Charles Takyi-Boadu, Presidential Correspondent
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