Over 4,000 young entrepreneurs receive grants under YouStart Initiative

The Ghana Enterprises Agency (GEA) Phase two grant disbursement under the YouStart Ghana Jobs and Skills Project to support youth-led businesses on mentorship and growth will provide fifty-two million Ghana Cedis grant to 4,000 youth-owned startups and enterprises.

The second phase of the YouStart Ghana Jobs and Skills Project dubbed “Biggest grant, and mentoring expo’ reached a major milestone with the official grant signing ceremony held at the Accra International Conference Centre.

Over 4,000 young entrepreneurs from across the country were awarded grants under the initiative, designed to empower the youth of Ghana and foster the growth of sustainable businesses that will drive the nation’s economic progress.

The event marked the next step in the Government of Ghana’s commitment to addressing youth unemployment and supporting entrepreneurship as a key driver of economic development.

Under Phase two of the YouStart Initiative, the government is providing critical financial support and mentorship to help young entrepreneurs build and scale their businesses.

The initiative is a vehicle through which Government intends to provide funding and technical support to youth and youth-led businesses to assist them start, build and grow their own businesses.

With more than 50,000 youth trained through the program, the phase two represents a crucial opportunity to support young entrepreneurs in launching their businesses and driving economic growth.

The project is the government of Ghana initiative under the Ghana Enterprise Agency initiative and funded by World Bank. It will give three levels of entrepreneurship training- basic, intermediate, and advanced.

The Chief Executive Officer of the Ghana Enterprises Agency (GEA), Kosi Yankey-Ayeh highlighted the significance of the initiative, not only in terms of financial support but also as a testament to the government’s belief in the power of the youth to shape Ghana’s economic future.

She indicated that the initiative has marked a significant milestone in a collective effort to empower the youth of Ghana and nurture their entrepreneurial aspirations.

“Today’s disbursement ceremony goes beyond the formal signing of grant agreements; it represents a powerful commitment to the future of our country, built upon the dreams and determination of our young entrepreneurs,” she said.

The Phase two grants total GHC 51,866,369.31, which will be distributed to 4,174 young entrepreneurs across Ghana.

The grants are designed to support businesses in various stages of development, providing young people with the resources they need to scale up their ventures.

She added that beside the financial assistance, beneficiaries will also receive tailored mentorship in key areas such as business management, financial literacy, digital marketing, and market expansion.

Mrs. Yankey-Ayeh further emphasized the holistic nature of the YouStart program, explaining that the grants are only one part of a larger ecosystem designed to ensure that young entrepreneurs succeed.

“These grants, made possible under the YouStart Ghana Jobs and Skills Project, are not just financial support. They symbolize the Government of Ghana’s unwavering belief in the potential of our youth to drive innovation, create jobs, and contribute to the sustainable development of our nation,” she stated.

The Chief of Staff, Frema Osei-Opare, who also spoke at the event, lauded the efforts of the government and development partners in tackling youth unemployment.

“The youth represent our most valuable resource, they bring energy, creativity, and innovation qualities essential for our economy to flourish in today’s rapidly changing world,” she said.

“By investing in our young people, we are ultimately investing in the future of Ghana,” she added.

Frema Osei-Opare also acknowledged the collaborative efforts of key stakeholders involved in the success of the project, including the Ministry of Trade and Industry, the Ministry of Finance, the Ghana Enterprises Agency, and development partners such as the World Bank.

The post Over 4,000 young entrepreneurs receive grants under YouStart Initiative first appeared on 3News.

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