The Absa Young Africa Works project has garnered praise from its beneficiaries for significantly enhancing agricultural production and creating job opportunities for youth in northern Ghana.
A recent visit by project implementers to the Tamale and Savelugu assemblies revealed substantial improvements in the beneficiaries’ operations, underscoring the project’s positive impact.
Launched in October 2020, the Absa Young Africa Works project is a collaborative effort between Absa Bank Ghana and the Mastercard Foundation. The initiative aims to create 50,000 decent jobs for young men and women by empowering micro, small, and medium-sized enterprises (MSMEs) through entrepreneurial skills training and providing collateral-free business loans at a 10% interest rate. To date, Absa Bank Ghana has invested over GH¢1.1 billion in the project, benefiting more than 5,900 businesses.
Success Stories
Two companies that have experienced remarkable growth thanks to the project are Aimal Sheni Enterprise and Idan Agro Limited. Aimal Sheni Enterprise, located in the Greater Tamale area and specializing in air conditioning units, reported significant sales and revenue growth.
The company is in the final stages of obtaining a franchise for the sale, distribution, and servicing of a global brand of air conditioners in northern Ghana. Additionally, Aimal Sheni Enterprise has expanded its operations to Wa, the Upper West Regional Capital, Bawku in the Upper East Region, and Walewale in the North East Region.
Idan Agro Limited, a model farm situated in Sakpuli, Savelugu Municipality, has also seen notable improvements. The farm, which produces soya, maize, and rice, has expanded its cultivated area from 400 hectares to 625 hectares.
According to Isaac Papanko, the Managing Director of Idan Agro Limited, the yield per acre has doubled from 0.8-1 metric tonne to 1.6-2 metric tonnes. The number of smallholder farmers working with the company has also surged from 1,200 to 5,246, thereby increasing employment opportunities for young men and women in the area.
Support for Smallholder Farmers
The project has provided crucial support to smallholder farmers, including input credit such as fertilizers, certified seeds, agrochemicals, agronomic training, and crop budgeting lessons. These resources and training have enhanced the productivity and efficiency of the farmers, contributing to the overall success of the initiative.
Employees of both Aimal Sheni Enterprise and Idan Agro Limited have reported significant personal and professional growth as a result of the project. Many now engage in decent livelihood activities, leading to an improved quality of life. The project has not only provided jobs but has also fostered a sense of empowerment and stability among the employees.
William Nettey, Head of Agribusiness at Absa Bank Ghana Limited, reiterated the bank’s dedication to supporting agribusiness and creating sustainable employment opportunities in Ghana. He encouraged the youth to seek out the right information and support to venture into agribusiness, highlighting the sector’s potential for growth and job creation.
Innocent Kodzo Awumey, the Project Manager of the Absa Young Africa Works Project, emphasized the project’s instrumental role in job creation and providing entrepreneurial support, particularly in underserved sectors and communities. The project’s success in improving production and increasing job opportunities underscores its potential to drive economic growth and development in northern Ghana.
As the project continues to expand its reach and impact, it holds promise for fostering sustained economic growth and development across the region.
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