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YouStart to provide youth with training, funding - Akufo-Addo

President Nana Akufo Addo On Touch Of France TV Show 2 President of Ghana, Nana Addo Dankwa Akufo-Addo

Wed, 15 Dec 2021 Source: 3news.com

President Nana Addo Dankwa Akufo-Addo has said that the YouStart initiative introduced by government will provide the youth with training, funding and enterprise promotion.

The government had announced the creation of one million jobs for the youth of this country.

This was announced by the Finance Minister, Ken Ofori-Atta in the budget statement for the 2022 fiscal year on Wednesday, November 17.

He said, “The understanding of the youth employment challenge, as well as extensive consultations with stakeholders including youth associations and educational institutions across the country, have led to the development of the YouStart initiative which proposes to use GH¢1 billion each year to catalyze an ecosystem to create 1 million jobs and in partnership with the Finance Institutions and Development Partners, raise another GH¢2 billion."

“In addition, our local Banks have agreed to a package that will result in increasing their SME portfolio up to GH¢5 billion over the next 3 years.

This, Mr. Speaker, results in an unprecedented historic GH¢10 billion Cedis commitment to the private sector and YouStart over the next 3 years."

He said the YouStart programme is a vehicle for supporting young entrepreneurs to gain access to capital, training, technical skills and mentoring to enable them to launch and operate their own businesses.

The Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), and partner financial institutions, will serve as the implementing arms of YouStart.

Entrepreneurs will be able to apply for support through a dedicated YouStart online portal.

“NEIP will also engage our Faith-Based Organisations as partners for the delivery of essential artisanal skills, business competitions, and feasibility studies and introduction to financing institutions with a commitment of up to 10% of GOG contribution to the YouStart Programme,” he added.

Source: 3news.com
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