Dr Mahamudu Bawumia on Monday, 22 January 2024, announced the national kickoff of the BizBox project by the Ghana Enterprises Agency (GEA) and Mastercard Foundation.
The US$55 million initiative aims to foster entrepreneurship, empower youth, and create a substantial number of jobs across the nation. The momentous event took place at the Kofi Ohene Konadu Auditorium, University of Professional Studies Accra (UPSA), Legon, Accra.
Addressing the audience, Vice President Bawumia emphasised the transformative nature of the BizBox Project, which builds upon the successful Young Africa Works – Youth Entrepreneurship and Employment program (YEEP) programme.
The previous Young Africa Works Project, impacted approximately 94,000 young people in Ghana between 2020 and 2022.
“Now, armed with a budget of US$55 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,” Dr Bawumia revealed.
The BizBox Project, he added, will be implemented across all the 16 regions and 261 districts in Ghana, also benefiting diverse groups, including youth, persons with disabilities (PWDs), vulnerable females, majority women-owned businesses, and female youth-led businesses.
Underlining the importance of the BizBox initiative, Vice President Bawumia further indicated the project symbolises hope and opportunity, encompassing the tools, knowledge, and support necessary to initiate, develop, own, and grow successful businesses for young people in Ghana.
The project will be implemented by the GEA under five pillars: Youth Skills Development, Access to Market, Access to Startup Kits, Youth Social Networks, and Institutional Strengthening, Policy, and Regulatory Support.
It will focus on sectors such as agriculture, agri-business, tourism, creative industry, building and construction, and others, ensuring a comprehensive approach to addressing the root causes of unemployment.
Alignment With Existing Government Initiatives And Policies
Mrs Kosi Yankey-Ayeh, the Chief Executive Officer of Ghana Enterprises Agency, expressed her commitment to the success of the BizBox Project, noting its alignment with existing government initiatives and policies.
“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.”
Mrs Kosi Yankey-Ayeh
The ceremony was attended by key government officials, including Kobina Tahir Hammond, Member of Parliament for Adansi-Asokwa and Minister for Trade and Industry; Ken Ofori Atta, Minister for Finance and Economic Planning; Henry Quartey, the Greater Accra Regional Minister; Sylvester Tetteh, Member of Parliament for Bortianor-Ngleshie Amanfro and the Board Chairman of GEA Enterprises Agency, and officials from the Mastercard foundation, among others.
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