The Ghana Enterprises Agency (GEA) has disbursed over GH₵51.8 million (GH₵51,866,369.31) to 4,174 young entrepreneurs across the country under Phase 2 of the YouStart initiative.
The regional breakdown includes Greater Accra: 691 beneficiaries- GH₵8,695,802.08, Central Region: 522 beneficiaries- GH₵6,409,205.18, Eastern Region: 550 beneficiaries- GH₵6,782,639.14, North East Region: 112 beneficiaries- GH₵1,307,603.00, Ashanti Region: 616 beneficiaries- GH₵7,580,795.52, Upper East Region: 196 beneficiaries-GH₵2,337,600.28 and Savanna Region: 90 beneficiaries- GH₵1,082,532.00.
The rest are Northern Region: 364 beneficiaries-GH₵4,327,532.00, Western Region: 180 beneficiaries- GH₵2,379,872.00, Ahafo Region: 61 beneficiaries- GH₵773,257.00, Upper West Region: 118 beneficiaries- GH₵1,357,058.00, Oti Region: 69 beneficiaries- GH₵867,186.00, Volta Region: 137 beneficiaries-GH₵1,853,271.11, Bono Region: 179 beneficiaries-GH₵2,266,819.00, Western North Region: 137 beneficiaries- GH₵1,800,208.00 and Bono East Region: 151 beneficiaries -GH₵2,044,989.00.
This is part of the government’s ongoing strategy to combat youth unemployment and foster economic growth by supporting the next generation of business leaders.
A national initiative to foster youth entrepreneurship
The distribution of funds spans across all regions of Ghana, with each area receiving a share of the grants to empower young entrepreneurs ensuring a nationwide impact.
These grants are aimed at businesses in various stages of development, providing resources for both new ventures and those looking to scale up.
Comprehensive support beyond financial aid
In addition to the financial support, beneficiaries will receive tailored mentorship in essential business areas such as financial literacy, business management, digital marketing, and market expansion.
Mrs. Kosi Yankey-Ayeh, CEO of GEA, emphasized the holistic approach of the program, stating that the grants are just one part of a larger ecosystem designed to support the growth and success of young entrepreneurs.
“This initiative is a testament to the government’s belief in the power of youth to shape the economic future of Ghana,” Mrs. Yankey-Ayeh said during the signing ceremony.
“It represents a powerful commitment to the future of our country, based on the dreams and determination of our young entrepreneurs.”
Govt’s vision for youth empowerment
Akosua Frema Osei-Opare, Chief of Staff, praised the YouStart program for tapping into the energy, creativity, and innovation of Ghana’s youth, which are essential qualities for economic prosperity.
She also acknowledged the collaborative efforts of various stakeholders, including the Ministry of Trade and Industry, Ministry of Finance, GEA, and development partners such as the World Bank, in making the initiative a success.
“The youth are our most valuable resource,” Osei-Opare stated. “By investing in them, we are investing in the future of Ghana.”
Over 50,000already benefitted
The Phase 2 grants are part of the YouStart Ghana Jobs and Skills Project, which has already benefitted ov These resources will help young entrepreneurs better position themselves to launch successful businesses, create jobs, and contribute to Ghana’s economic stability.er 50,000 young people nationwide through entrepreneurship training.
