Vice President Dr. Mahamudu Bawumia inaugurated the national kick-off of the BizBox project by the Ghana Enterprise Agency and Mastercard Foundation at an event at the Kofi Ohene Konadu Auditorium, UPSA, Accra on Monday, January 22, 2024. Announced.
With a budget of US$55 million, the initiative aims to foster entrepreneurship, empower youth, and create significant jobs across the United States.
Vice President Bawumia highlighted to the audience the transformative nature of the BizBox project, which builds on the successful Young Africa Works β Youth Entrepreneurship and Employment Program (YEEP). The previous Young Africa Works project impacted approximately 94,000 youth in Ghana from 2020 to 2022.
βCurrently, with a budget of $55 million, the new BizBox project will empower 250,000 individuals, support 125,000 with start-up kits, and provide market access support to 50,000 businesses. We have set an ambitious goal of providing regulatory support to 40,000 companies.” the vice president said.
βThe BizBox project will be implemented in all 16 regions and 261 districts in Ghana, targeting young people, persons with disabilities (PWDs), vulnerable women, majority women-owned businesses, women youth-led businesses, etc. It also benefits diverse groups,” he added.
Highlighting the importance of the BizBox initiative, Vice President Bawumia said the project is a symbol of hope and opportunity and the tools Ghanaian youth need to start, develop, own and grow successful businesses. , knowledge and support.
The project will be implemented by the Ghana Enterprise Authority based on five pillars: youth skills development, market access, access to start-up kits, youth social networks, institutional strengthening, policy and regulatory support. Ensure a comprehensive approach to addressing the root causes of unemployment, focusing on sectors such as agriculture, agribusiness, tourism, creative industries, and building and construction.
The Chief Executive Officer of the Ghana Enterprise Authority, Mr. Kgosi Yankee Eye, expressed his commitment to the success of the BizBox project, noting that it is in line with existing government initiatives and policies.
βWe recognize the importance of collaboration and partnership, and to this end, BizBox is leveraging partnerships with private sector BDS providers, industry associations, and various stakeholders to ensure the success and success of this program. Ensuring sustainability. We are committed to supporting the dreams and aspirations of young people and developing a generation of innovative and successful entrepreneurs who will contribute to the growth and prosperity of our country.” she stated.
The ceremony was attended by key government officials, including the Prime Minister. Kobina Tahir Hammond, Adansi Asokwa MP, Minister of Trade and Industry; My lord. Sylvester Tetteh, MP for Voltianor Ngulesi Amanfro, Chairman of the Board of GEA Enterprise Agency, Mastercard Foundation officials, and others.
About the Ghana Enterprise Authority (GEA)
The Ghana Enterprise Authority (GEA) is the apex government agency under the Ministry of Trade and Industry (MoTI) responsible for the promotion and development of the Micro, Small and Medium Enterprises (MSME) sector in Ghana.
The GEA, formerly the National Board for Small Scale Industries (NBSSI), was established by an Act of Parliament (Act 1043) in November 2020. GEA Act 1043 was approved in December 2020. This law requires GEA to coordinate, implement and monitor. MSME sector activities.
GEA’s long-term goal is to support the MSME sector to make its maximum contribution to the country’s economic and social development in terms of production, income distribution and employment, and to encourage the closer participation of rural women and communities in the state. It’s about promoting integration. economy.
GEA provides Business Development Services (BDS) to MSMEs, facilitates access to credit and formalize the MSME sector in Ghana in a decentralized manner primarily through Business Advisory Centers (BACs)/Business Resource Centers (BRCs). support.
GEA is headquartered in Accra. It also operates in all 16 administrative regions, known as regional offices, and 247 regional offices, known as Business Advisory Centers (BACs) and Business Resource Centers (BRCs).
For more information about GEA, please visit our website: www.gea.gov.gh
About the Mastercard Foundation
The Mastercard Foundation is a Canadian registered charity and one of the largest foundations in the world. We work with forward-thinking organizations to advance education and financial inclusion, ensuring that African youth and Canada’s Indigenous youth have access to dignified and rewarding work. Established through the generosity of Mastercard when it became a public company in 2006, the Foundation is separate and independent from Mastercard, and is located in Toronto, Kigali, Accra, Nairobi, Kampala, Lagos, Dakar, We have an office in Addis Ababa. Its policy, operations, and program decisions are determined by the Foundation’s Board of Directors and leadership.
For more information about the Foundation, please visit www.mastercardfdn.org.