The government in its 2022 budget announced GHC1 billion to support young entrepreneurs in the country to enable them to create new businesses as well as expand existing ones.
Under the ‘YouthStart’ programme, the government is expected to provide financial and technical support to young entrepreneurs to develop commercially viable businesses and create jobs for the youth.
With the aim to giving hope to the youth through Entrepreneurship Promotion, the government has finally released details of the different categories and how to apply for it.
According to the Presidency, the program have features such as the District enterpreneurship Program. Under the District Entrepreneurship Program, all urban and rural youth can take advantage of funding up to 100,000 Ghana cedis at concessionary rates. The implementing agencies of are the GEA and the NEIP. Interested persons can contact the implementing agencies.
Again, the program has another feature called the Commercial Program. This aspect of the youth start program target all medium-sized businesses across the country. Successful applicants stand the chance do a standardized loan up to GHC500,000 Ghana cedi at a concessionary rate. All interested persons can contact the 13 participating financial institutions under the Ghana Association of Banks.
Also, the youth start has another feature called the youstart Grace. This aspect of the program target unemployed youth across Ghana with priority for women-owned businesses and rural entrepreneurs. The project partners are faith-based organisations.
The last feature has the youstart NABCO. The targeted group are the NABCO beneficiaries and the implementing agencies at the NABCO secretariat, GEA and NEIP.
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