The Finance Minister, Ken Ofori-Atta, has revealed that government has disbursed some GHC1.98 million in its piloting of the YouStart initiative.

According to him, since March this year, government has “successfully piloted the ‘YouStart’ programme” , with over 70 participants across the country undertaking a two-week mandatory training to equip them with the requisite skills in entrepreneurship and financial management. He noted that these participants were also trained in good corporate governance, marketing and customer service, among others.

“A total amount of GHC 1.98 million was disbursed under the pilot to 46 individuals and 8 Associations/Groups (with membership of between 6 and 45) based on specific needs to enable them scale up their businesses and contribute to the job creation agenda of Government.”
Ken Ofori-Atta

Mr Ofori-Atta indicated that just as government did in 2017 and 2020, it is resolved to continue to provide the necessary leadership to turn the economy around. He explained that the President will ensure the country’s economy bustles again within the next two and half years.

The finance minister highlighted that government will proceed with great caution, thoughtfulness, creativity, grit and shall “hasten slowly” to achieve its ambition.

“We are currently developing an Enhanced Domestic Programme to complement the GhanaCARES ‘Obaatan pa’ programme to return us to a path of macroeconomic stability, debt sustainability, robust growth and a Ghana Beyond Aid. We expect this programme to be the basis of our negotiation with the IMF.”
Ken Ofori-Atta

In the coming months, Mr Ofori-Atta opined that government will continue to optimise and support its flagship programmes and make strategic investments in the real sector to increase production, enhance productivity, and create jobs.

“The YouStart programme will be a fundamental intervention to advancing an entrepreneurial nation to create jobs.”
Ken Ofori-Atta

Development Bank Ghana launch

Commenting on some of government’s achievements, Mr Ofori-Atta expressed that the government and entrepreneurs on 14th of June, 2022, realised a long-cherished dream when it launched and operationalised the Development Bank Ghana (DBG). He explained that this is a significant innovation and reinforcement of the “financial architecture that will provide medium- and long-term financing” for commercially-viable businesses and projects.

“Together, we will work harder to make the DBG a triple A-rated institution able to access and disburse resources to finance Ghana’s transformation.”
Ken Ofori-Atta

Additionally, Mr Ofori-Atta stated that despite global supply chain disruptions, the Ghana Automotive Development Programme under the Strategic Anchor Industries Initiative also continues to attract investments. In April 2022, he highlighted that, Nissan commissioned the largest automotive assembly plant in the country in Tema, with the capacity to assemble over 31,000 vehicles per annum.

“The expected commissioning of four additional plants this year, bringing the total to nine global brands, will make this nation a true hub for automobiles in the sub-region.”
Ken Ofori-Atta

Mr Ofori-Atta conceded that times are hard and things are not what the countries desired. That notwithstanding, he reckoned that government believes in the “overcoming spirit of the Ghanaian people, a spirit that does not cower in the face of challenges”.

“It is this spirit that inspires us as a government to provide the leadership that is required… Ours is a country of strong, courageous, resilient, optimistic and joyful people. Indeed, it is amazing how we can find humour in the most difficult situations which keeps our spirits alive. As a nation, we have gone through many difficulties including the recent COVID-19 pandemic that devastated many nations, yet we survived. That is a testament to our resilience.”
Ken Ofori-Atta