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Regional News | Apr 24, 2004

Management Committee of the National Youth Fund inaugurated

GNA

Accra, April 23, GNA - The Ministry of Education, Youth and Sports (MEYS)on Friday inaugurated a seven-member National Management Committee, to oversee the disbursement of the 50 billion cedis National Youth Fund, established to enhance youth development and empowerment in Ghana.

Activities of the Committee, chaired by Mr. Ato Essuman, Chief Director, of the MEYS include preparation of legal documents to operate the fund, determine other sources to enrich the fund, monitor and evaluate activities for job creation centres and submit annual reports to the Governing Board of the National Youth Council (NYC).

Mr. Joe Aggrey, Deputy Minister, MEYS, who inaugurated the Committee, urged the members not to hesitate but begin work immediately to consider and approve proposals submitted to the Ministry for the job creation centres.

He said the Fund, being a revolving one, would facilitate youth self-employment by providing financial and logistical support on credit basis, achieve wealth creation, reduce poverty and develop the entrepreneurial skills of the youth by providing advisory and management training services.

Mr Aggrey explained that the Fund would be operated from the Youth Leadership and Skill Training Institutes of the NYC and other selected government technical and vocational training institutes throughout the country.

However, he said 34 institutes in 34 districts had been selected based on excellence, to operate on pilot basis.

"The operating centres have been designated as 'Centres of Excellence' and have job creation centres as well as business management committees to ensure efficient business operation", he added.

The Deputy Minister said the selected institutions had been registered with the Registrar General's Department as business entities and therefore, had the capacity to bid for contracts from District Assemblies and private developers.

Mr Aggrey said selected Institutions to be assisted through the Fund had opportunities to establish economic ventures that would provide avenues for practical training of students, where past students of vocational and technical institutions could be recalled to join in working on projects.

He urged skilled youth groups in the communities already in business or intends to go into private business to monitor and access the fund either as start up capital or to strengthen the capital base of their operations.

Mr. Essuman assured the Ministry of their preparedness to work hard to ensure the sustenance and achievement of the goals for which the fund was set up.

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