Government’s YouStart initiative is expected to begin next year, Finance Minister Ken Ofori-Atta has announced.
Government is working with its partners, the World Bank, to secure funding worth USD150 million, while on its own, government is committing GHS200 million to ensuring that more young persons are supported into entrepreneurship.
Delivering the 2024 Budget statement in Parliament, Wednesday, 15 November 2023, Mr Ofori-Atta explained: “The Ghana Enterprises Agency (GEA) and the National Entrepreneurship and Innovation Programme (NEIP) has been brought together as a cohesive unit to co-lead the District Entrepreneurship component of the YouStart.”
The Finance Minister indicated that as at “October, 2023, a total of 23,695 beneficiaries comprising 5,183 males and 18,512 females had completed the Basic Level training by the GEA under the YouStart Jobs and Skills project.
“Out of this number, 7,975 comprising 2,474 males and 5,501 females progressed and completed the Intermediate Level training, with 4,514 beneficiaries comprising 1,679 males and 2,835 females also progressing to the Advance Level.”
He further disclosed that: “GEA has commenced disbursement of grants to beneficiaries who have completed the Intermediate and Advanced Levels. Evaluation of the grant proposals is currently ongoing.”
It is expected that at least “5,000 of the 1st batch of beneficiaries” would be supported with startup grants.
Under government’s YouStart, the NEIP has also trained a total of 2,000 beneficiaries.