In a resounding commitment to fostering economic growth and youth empowerment, Vice President Alhaji Bawumia has unveiled a transformative vision for Ghana. The recent Grant Signing Ceremony organized by the Ghana Enterprises Agency showcased the tangible results of the government's strategic initiatives, particularly through the Ghana Jobs and Skills Project (GJSP) and the Ghana Economic Transformation Project (GETP).
The highlight of this monumental effort is the disbursement of GH¢100 million in grant support to startups and Micro, Small, Medium Enterprises (MSMEs) in 2023. Over 30,000 beneficiaries have reaped the benefits of this financial aid, administered through the Ghana Enterprises Agency's (GEA) YouStart programme. This initiative, funded by the World Bank through collaborative efforts from the Ministries of Finance and Trade and Industry, serves as a crucial measure to cushion enterprises affected by the dual impact of the COVID-19 pandemic and the Russia-Ukraine war.
Vice President Bawumia proudly announced that, despite global economic challenges, the Akufo-Addo-led government had successfully created 2.1 million jobs within seven years. The YouStart programme, spearheaded by Minister of Finance Ken Ofori-Atta, stands as a testament to the administration's dedication to fostering entrepreneurship and job creation.
The Vice President expressed gratitude to the Ghana Enterprises Agency, led by dynamic CEO Kosi Yankey-Ayeh (Mrs.), for their unwavering commitment to fostering the growth and development of startups and MSMEs. He also acknowledged Minister of Trade and Industry, Mr. Kobina Tahir Hammond, for ensuring oversight responsibility of these invaluable programs.
In emphasizing the collaborative nature of these achievements, Dr. Bawumia extended thanks to key development partners, including the World Bank, for their technical reviews and funding contributions. He celebrated the success of the YouStart intervention, noting that it has already provided Business Management Training to over 30,000 young individuals and MSMEs.
Furthermore, the Vice President highlighted ongoing efforts by the government to create an entrepreneurial economy, turning ideas into tangible results. The allocation of GH¢200 million in the 2024 Budget, with a solicitation of $200 million from the World Bank, showcases the administration's dedication to comprehensive and holistic enterprise development.
As we reflect on these strides, it is evident that Vice President Bawumia's vision transcends financial support alone. His commitment to creating a conducive environment for businesses to thrive, coupled with a focus on digitalisation and youth empowerment, paints a promising picture for the future of Ghana. The initiatives undertaken under his leadership underscore the belief that a prosperous nation is built on the empowerment of its youth and the transformative potential of digital innovation.
Prince A. A. Sadat
(NPP National Youth Wing Administrator)