Youth Unemployment: Prez Akufo-Addo urges youth to take advantage of YouStart initiative

Youth Unemployment: Akufo-Addo urges youth to take advantage of YouStart initiative to create jobs

Kweku Zurek Jan - 25 - 2022 , 14:15

President Nana Addo Dankwa Akufo-Addo has urged the youth to take advantage of the government's YouStart initiative, a vehicle the government intends to use to create 1million jobs in the next three years.

President Akufo-Addo in an address at the 73rd annual New Year School and Conference said the YouStart initiative which becomes operational in March 2022 was the most comprehensive initiative to provide an effective solution to the country's youth unemployment challenge.

"It will support young entrepreneurs to gain access to capital, training, technical skills and mentoring to enable them to launch and operate their own businesses as well as employ others," President Akufo-Addo said.

He said under the initiative young entrepreneurs could apply for support through a dedicated YouStart online portal.

The support that will be offered as part of the programme includes; skills training and development, entrepreneurial support, business advisory services, competitive credit and starter packs as well as mentoring and access to markets.

Successful applicants

President Akufo-Addo said successful applicants of the YouStart programme will be eligible for starter packs including soft loans ranging from GH₵10,000 to GH₵50,000 as well as standard loan packages of between GH₵100,000 and GH₵400,000 at concessional rates.

"Successful applicants will be eligible for soft loans of up to GH₵50,000 to help start-ups, young graduates, school leavers and small businesses to expand," he said.

“Starter packs for equipment acquisition) of up to GHC50,000 for individuals and GHC100,000 for associations and groups. A standardised loan package of between GH₵100,000 to GH₵400,000 at concessional rates for SMEs through financial institutions”.

New Year School

Organised by the School of Continuing and Distance Education of the College of Education of the university, this year’s school and conference, the 73rd edition, is on the theme: “COVID-19 and socioeconomic dynamics in Ghana”.