Minister for Finance, Ken Ofori-Atta
YouStart initiative to make Ghana an entrepreneurial state and create jobs, Finance Minister
Government would commit up to GHS1 billion annually to YouStart, Ofori Atta
CGIA commends government for YouStart initiative
Director of Business Development, CGIA, Samuel Akoetey, has urged the government to train all the beneficiaries of the proposed ‘YouStart’ programme which sought to provide entrepreneurs with start-up capital.
He said if beneficiaries are not be trained, the ‘YouStart’ programme which was a good initiative would be ‘money flashed through the pipelines’.
The Director at CGIA said it was essential that entrepreneurs were well equipped with skills in finance and other business aspects before supporting them with start-up capital.
According to him, the government should ensure that all the beneficiaries of the programme had the technical know-how to manage their capital and keep records of their activities.
“It is good there is digitalization that at a given time you can track your expenditure, so we think that yes government efforts to be able to give something to local industries is commendable but the training is paramount and important,” he said.
Samuel Akoetey noted that the cost of training should not be more than the assistance the beneficiaries would receive.
“If consultancy and for that matter, the training was causing more than the fund you are giving out, then it becomes self-inflicting hence, that aspect too should be looked at and be guided to ensure that training is given at a reasonable rate”, he said.
The Minister for Finance, Ken Ofori-Atta during the presentation of the 2022 budget said YouStart initiative was a game-changer to kick start an entrepreneurial state and create jobs.
He indicated that the government would commit up to GHC1 billion annually to YouStart; in addition Development Partners and Financial Institutions are expected to complement government effort with close to GHC2 billion and GHC5 billion, respectively.