The Ghana Jobs and Skills program of the YouStart program will formally start training today for over 50,000 young people chosen from throughout the nation.
The three-month program is designed to give participants the knowledge, resources, and financial assistance they need to launch and expand their enterprises.
Out of the more than 288,000 candidates that submitted applications through the portal intended to gather submissions from prospective beneficiaries of the YouStart project, the recipients were chosen.
The program aims to reach 50% of women, people with disabilities, young people without jobs, and small companies run by school dropouts between the ages of 18 and 40.
The Ghana Enterprises Agency (GEA) is carrying out the project with financial and technical assistance of GH400 million from the World Bank.
In an exclusive interview with the Daily Graphic yesterday in Accra, the Chief Executive Officer (CEO) of the GEA, Kosi Yankey-Ayeh, disclosed that the project's funding and technical support, both of which had already been secured, were made possible by the Ministry of Finance (MoF).
She added that the Ghana Jobs and Skills initiative, which consists of components for technical support and access to capital, is the only one in which the World Bank is investing close to GH400 million.
YouStart Programme
The government launched the YouStart project in the 2022 budget with the goal of fostering entrepreneurship across the country and generating at least one million jobs for young people between 2022 and 2025.
Under the Ghana COVID-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) initiative, which is a part of attempts to alleviate the high youth unemployment rate in the nation, it was intended to lessen restrictions for current and potential young entrepreneurs.
The government and its partners plan to invest around $10 billion in the initiative over a three-year period in order to generate at least one million jobs.
With assistance from the World Bank, it is being carried out by the Ghana Enterprises Agency (GEA) and the National Entrepreneurship Innovation Programme (NEIP).
It is a means by which the government plans to give money and technical assistance to young people between the ages of 18 and 40 and youth-led firms in order to help them launch, develop, and expand their businesses.
There are three phases to its implementation: a district model, in which beneficiaries are chosen through special help desks in the 216 districts throughout the nation; a commercial model, which has banks on board; and a faith model, which collaborates with religious organizations to find qualified applicants.
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