Ghana Establishes $2.7m YES Fund For Young Entrepreneurs

Ghana Establishes $2.7m YES Fund For Young Entrepreneurs

ENTERPRISE54 – To commemorate the 2014 International Youth Day on Tuesday, the Ghanaian government launched a $2.7 million (10 million Cedis) Youth Enterprise Support (YES) initiative to boost the creativity and entrepreneurial skills of young Ghanaians. The Youth Enterprise Support (YES) initiative is a multi- sectoral initiative that has the support of the National Board for

ENTERPRISE54 – To commemorate the 2014 International Youth Day on Tuesday, the Ghanaian government launched a $2.7 million (10 million Cedis) Youth Enterprise Support (YES) initiative to boost the creativity and entrepreneurial skills of young Ghanaians.

The Youth Enterprise Support (YES) initiative is a multi- sectoral initiative that has the support of the National Board for Small Scale Industries, Ministry of Trade and Industry, National Youth Authority, Ministry of Youth and Sports and the Ministry of Finance.

The programme is open to young people between the age of 18 and 35.

To access the fund, beneficiaries will need to submit a business proposal plus recommendation letter.

The highest amount that can be allocated to a business idea is 50, 000 Cedis ($13,504).

On getting the grant, beneficiaries will be provided with effective training and Entrepreneurial mentoring that would launch their business into a successful venture.

Ghana’s President John Dramani Mahama said beneficiaries will repay the YES support through taxation and businesses that ask for tax relief from the beginning of their enterprises would pay the installments with interest until they settled all their indebtedness.

He advised beneficiaries to be bold and confident in whatever venture they choose so that it can be prosperous and also be able to generate jobs for other youth in the country.

The budding entrepreneurs are also accord to exhibit high level of professionalism as they hold the development mantle to increase the nation’s wealth.

 

 

Busayo Sotunde
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