The Government has launched a £100m grant scheme for women and start-ups
Government has launched a GH?100 million grant fund for training and capacity building for women and youth-owned micro, small and medium enterprises (MSMEs).
The initiative, sponsored by the World Bank and the government under the Ghana Economic Transformation Project (GETP), will allocate GH?40 million in grants towomen MSMEs and GHS60 million to young adults from 18 to 35 age. . . In the beginning,the Minister of Trade and Industry Mr. Kobina Tahir Hammond said the program is in line with the government's intention to provide training, capacity building and funding to help businesses grow and take MSMEs to the next level of growth, increasing their potential. sales and exports begin. He said these initiatives gavethe management and directorsof the Ghana Enterprises Agency (GEA) another opportunity to empower Ghanaian women in the MSME sector and young Ghanaian entrepreneurs as they strive for sustainable growth. maintainand organize their business. "We expect GEA to continue its good performance in usingdigital platforms and providingcomprehensive support through its network of business development service providers.We also hope to be used special management work to do this to protect the long-term interests of the company," he said. Hammond said the government will step up its efforts with multilateral, regional and bilateral partners to open upnew market opportunities for local products and services. "These policies are another step under GET's mission to ensure inclusive economic growth and spread the benefits of growth in terms of job creation, as well as the improvement of social and gender relations," he said. Fortunately, technology,including digital technology, is opening up opportunities forglobal business at a pace thatwas unimaginable just two decades ago, he said.
“As the Minister of Trade and Industry, I am happy to be part of this initiative that aims to create opportunities for the youth and women of this country to get the necessarysupport to strengthen their MSMEs in times of economic change and Stability has become a clarion call," he said. He said that the Ministry willcontinue to build and strengthen the legal frameworkand institutional framework toenable the implementing agencies to respond to the needs of the private sector, especially SMEs, by usingopportunities, including access to markets such as the African Continental Free Trade Area. .
GEA has released GHS 66million to more than 800 SMEs between September 2021 andDecember 2022 in two ways under the COVID-19 Response Program and a partnership program designed for criticalSME growth. Mrs. Kosi Yankey-Ayeh, the CEO of the Ghana Enterprises Agency, said the youth in MSME program aimsto provide capacity building and financial assistance in the form of grants for youth businesses to encourage young people to start up . the people. .
The Women's MSME Programwill invest more resources into women-owned businesses or women-owned micro, small and micro enterprises (MSMEs) with the aim of improving their potential for growth and job creation. He said that the national program for youth in MSME and women MSME will include every aspect of training, capacity building and grants.
"It is hoped that these initiatives will lead to the growth of profitable businesses and build their capacity to create jobs and promote gender equality and social relations in our country," Mrs. Yankey- Ayeh said. He said that support from the GEA grant program should be allocated to the support of work and adaptation to the next level of growth, thus increasing their ability to selland export.
The W-MSME & Youth and MSME program will engage technology for up to 2,000 MSMEs for business management skills, productivity and soft learning enhancements that are learnedleading to a culture of increased entrepreneurship among MSMEs. Ghana, thus promoting competition. and taste. He said that the W-MSME and Youth in MSME program will provide four-day training for about 2,000 pre-selected MSMEs from a pool of applicants and train them in business and financial management, record keeping, preparation, reading and understanding of basic financial statements. , financialmanagement and operatingcycle, accounts receivable and payable management, inventory management, basic business plan development, and tax compliance and regulatory training.
The aim of this knowledge area is to equip SMEs with workingknowledge
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