President John Mahama has launched a GHc10 million Youth Entrepreneurship Support Fund today as part of Ghana’s activities to mark International Youth Day.
The Fund is aimed at assisting young entrepreneurs who have bright ideas but no capital. It is seen as a key step by government to address joblessness among young people.
When announced in 2012, then Deputy Youth and Sports Minister Joseph Yammin, said the Fund would be “open to anybody who has a very good proposal which can yield fruit and repay its facility that has been given to him”.
Government released the $10million for the Fund in June 2013, but it was officially launched today.
Africa has the youngest population of any continent, which means that the problem of youth unemployment particularly relevant. It is seen as many as a ticking timebomb.