Veep Outdoors $55m BizBox Project

Vice President Dr. Mahamudu Bawumia (6th from right), with Kobina Tahir Hammond (5th from right), Minister of Trade and Industry, Kojo Oppong Nkrumah (3rd from left), Minister of Information, Kosi Yankey Ayeh (4th from left), Chief Executive Officer, Ghana Enterprises Agency and other guests 

 

Government has rolled out yet another entrepreneurship programme to empower the youth.

It follows the successful launch of a $55 million Business in a Box (BizBox) Project to equip Ghanaian youth with knowledge and skills in entrepreneurship for sustainable economic growth.

The initiative is a partnership between the Ghana Enterprises Agency (GEA) and the Mastercard Foundation, with the aim of empowering more than 250,000 youth with start-up kits and financial resources to create jobs.

The project is being implemented for the next four years, starting this year, to provide start-up kits to 125,000 individuals, market access to 50,000 micro, small and medium-scale enterprises (MSMSEs) and regulatory support to 40,000 businesses across the 16 regions of Ghana.

It is targeting young men and women between the ages of 15 and 35 years, especially young women entrepreneurs, persons with disabilities (PWDs) and vulnerable groups in the 261 metropolitan, municipal and district assemblies (MMDAs).

The project would focus mainly on agricultural and agribusinesses, tourism and creative arts, youth social networking and building and construction sectors of the economy.

At the launch in Accra yesterday, Vice President Dr. Bawumia said the initiative would rekindle the entrepreneurship spirit of the Ghanaian youth and create a substantial number of jobs across the country.

The project, he said, was in tandem with the New Patriotic Party (NPP) government’s vision of creating additional 1 million jobs, aside the 2.1 million jobs already created over the past seven years.

The BizBox Project, according to him, will add to the existing ‘Young Africa Works – Youth Entrepreneurship and Employment programme (YEEP)’, which was executed between 2020 and 2022 that empowered approximately 94,000 youth across the country.

“Now, armed with a budget of USD55 million, the new BizBox Project sets an ambitious goal to empower 250,000 individuals, support 125,000 with start-up kits, provide market access support to 50,000 businesses, and regulatory support to 40,000 businesses,” he emphasised.

Underlining the significance of the initiative, the Vice President said it symbolised hope and opportunity for the Ghanaian youth, encompassing the provision of tools, knowledge, and support necessary to initiate, develop, own, and grow successful businesses in Ghana.

The project would be implemented by the Ghana Enterprises Agency under five pillars namely; Youth Skills Development, Access to Market, Access to Startup Kits, Youth Social Networks, and Institutional Strengthening, Policy, and Regulatory Support.

Chief Executive Officer (CEO) of the GEA, Kosi Yankey-Ayeh, expressed the Agency’s commitment towards the successful implementation of the BizBox Project.

She noted that the initiative was in alignment with the existing government programmes and policies to create jobs for the teeming youth.

“We recognise the importance of collaboration and partnership, to this end, BizBox will leverage partnerships with private sector BDS providers, industry associations, and various stakeholders to ensure the success and sustainability of this programme.

“We stand committed to supporting the dreams and aspirations of the youth, nurturing a generation of innovative and successful entrepreneurs who will contribute to the growth and prosperity of our nation,” she said.

Trade and Industry Minister, Kobina Tahir Hammond, lauded the Mastercard Foundation for providing budgetary support for the project and expressed confidence that it would serve as a catalyst for youth entrepreneurship, promoting economic growth and productivity.

By Charles Takyi-Boadu, Presidential Correspondent

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