Cape Coast, Monday November 29, 2021 - Finance Minister, Ken Ofori-Atta has stated that, the YouStart initiative is a game changer to kick start an entrepreneurial state and create jobs.
“Essentially, the YouStart will serve as a vehicle to support the youth with developing commercially viable businesses, gaining access to capital, training, technical skills, and mentoring to enable them launch and operate their businesses,” he stated.
He made this known when he addressed over 2000 youths from Senior High Schools, Tertiary Institutions, youth in entrepreneurship and identifiable groups in the Cape coast environs at the Springboard Youth Dialogue programme held at the University of Cape Coast.
YouStart is a vehicle by Government to support the youth with developing commercially viable businesses, gaining access to capital, training, technical skills and mentoring to enable them launch and operate their businesses.
According to the Minister, the programme is expected to remove the primary impediment to the growth of enterprise in Ghana, i.e., access to credit and incorporate the broader vision of the Ghana Beyond Aid under the Ghana CARES “Obaatan Pa” Programme.
The Minister explained that the training component of the initiative would consider Skills Development, Entrepreneurial Support and Business Advisory Services, while the funding component would consider access to competitive credit and Starter Packs.
Furthermore, he said, the enterprise promotion would look at Mentoring and Access to Markets including portals to facilitate “digital linkages” between youth-led enterprises and other businesses and relevant Government agencies.
“By working in tandem with our international development partners and financial institutions, an unprecedented GHS10 billion will be committed over the next three years to supporting entrepreneurship,” he added.
He disclosed that over the next three years, Government would commit up to GHS1 billion annually to YouStart, while Development Partners and Financial Institutions would complement Government funding with close to GHS2 billion and GHS5 billion, respectively.
He added that, initiate will also nurture a self-confident and business savvy generation that would leverage on the AfCFTA for economic transformation.
“With the anticipated multiplier effect of YouStart, we will become an entrepreneurial nation with a great army of curious, competent, and compassionate actors empowered to conquer opportunities at home and beyond. That is our goal, and with God on our side, we will accomplish it,” he added. END