As part of efforts to reduce unemployment among the youth and boost job creation, the Jobs for Youth, Profit for SMEs (JoY-PS) Programme has been launched.
The programme which is spearheaded by Tradeline Consult, in partnership with Finance Factory (FinFact) aims to create 10 million jobs, build the capacity of 1 million young graduates in entrepreneurship and increase business growth and profitability for 20 million SMEs across Africa by 2040.
For the next five years, the initiative will focus on empowering 35,000 entrepreneurs from various universities and technical institutions in Ghana.
It will also enroll businesses registered with the Ghana Enterprise Agency, Business Advisory Centres and Business Resource Centres across all districts in the 16 regions of Ghana.
The initiative becomes imperative as research reveals that out of an estimated 2.1 million SMEs in Ghana, 85 percent of them operate informally, with poor financial management and governance structures, leading to high business failure rates and limited opportunities for expansion and growth
CEO of Tradeline Consult, Sam Zeph Atiemo noted that the “JoY-PS is a game-changer for Africa’s youth and SMEs. By equipping young graduates with the right skills and directly linking them to businesses, we are creating employment and strengthening the foundation of SME growth across the continent.”
“We are determined to bring hope and wealth to the youth, it is now or never” Mr. Atiemo added.
The programme will partner with major stakeholders including The MasterCard Foundation, European Union, African Development Bank, GIZ, KFW and other strategic investors and partners.
Again the local office will collaborate with CEO Africa, the National Service Secretariat (NSS), the National Youth Authority (NYA), the Ghana Enterprise Agency (GEA), the Ministry of Trade, Agribusiness and Industry as well as financial institutions such as Stanbic Bank, GCB Bank, Fidelity Bank, Absa Bank Ghana to ensure the initiative attains maximum impact.
The programme will also facilitate the setting up of 5,000 sustainable enterprises, geared towards the creation of over 500,000 jobs in Ghana within the next five years through its job placement, business advisory, and entrepreneurship tracks called Bapx.
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