The Vice President, Dr. Mahamudu Bawumia on Monday, 22nd January 2024, announced the national kick off the BizBox project by the Ghana Enterprises Agency and Mastercard Foundation at an event at the Kofi Ohene Konadu Auditorium, UPSA, Accra.
The initiative, with a budget of USD 55 million, is aimed to foster entrepreneurship, empower youth, and create a substantial number of jobs across the nation.
Addressing the audience, Vice President Bawumia emphasized the transformative nature of the BizBox Project, which build upon the successful Young Africa Works – Youth Entrepreneurship and Employment programme (YEEP).
The previous Young Africa Works Project impacted approximately 94,000 young people in Ghana between 2020 and 2022.
“Now, armed with a budget of USD 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,” the Vice President stated.
“The BizBox Project, would 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’’, he added.
Underlining the importance of the BizBox initiative, Vice President Bawumia indicated that the project symbolized 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 would be implemented by the Ghana Enterprises Agency under five pillars: Youth Skills Development, Access to Market, Access to Startup Kits, Youth Social Networks, and Institutional Strengthening, Policy, and Regulatory Support.
It would focus on sectors such as agriculture, agri-business, tourism, creative industry, building and construction, and others, ensuring a comprehensive approach to address the root causes of unemployment.
The Chief Executive Officer of Ghana Enterprises Agency, Mrs. Kosi Yankey-Ayeh, expressed her commitment to the success of the BizBox Project. She mentioned that the project aligned with existing Government initiatives and policies.
“We recognize 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 program. 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.
The ceremony was attended by key government officials, including Hon. Kobina Tahir Hammond, Member of Parliament for Adansi-Asokwa and Minister for Trade and Industry; Hon. Ken Ofori Atta, Minister for Finance and Economic Planning; Hon. Henry Quartey, the Greater Accra Regional Minister; Hon. Sylvester Tetteh, Member of Parliament for Bortianor-Ngleshie Amanfro and the Board Chairman of GEA Enterprises Agency, officials from the Mastercard foundation among others.
Source: MOI (PR Unit)
