250,000 young entrepreneurs to benefit from GEA/MasterCard foundation BizBox programme

The Ghana Enterprise Agency (GEA) has launched the second phase of the Business in a Box (BizBox) project in the Northern region, aiming to empower over 250,000 young entrepreneurs across Ghana to boost job creation and economic growth over the next four years.

Of this number, more than 100,000 entrepreneurs will receive start-up kits and other support to either expand their existing businesses or kickstart new ventures. The four-year project, under the Young Africa Works program and supported by a GH¢660 million grant from the MasterCard Foundation, focuses on holistic development rather than direct financial assistance. Its goal is to equip entrepreneurs with the skills and resources needed to build resilient and competitive enterprises.

The BizBox program will prioritize providing opportunities for 70 percent of females and ten percent of Persons with Disabilities (PWDs) to acquire skills and access to start-up kits, markets, finance, and technology for business growth. This initiative aligns with the government's agenda to address youth unemployment and generate one million jobs for the youth by 2025.

During the launch event in Tamale, the Chief Executive Officer of GEA, Kosi Yankey-Ayeh, emphasized that youth employment remains a significant challenge for the government due to the country's growing youth population. The collaboration with the MasterCard Foundation aims to support youth over the next four years, with 93,000 beneficiaries already seeing growth in their businesses through previous support.

Yankey-Ayeh highlighted that the program's success has revitalized many businesses, creating opportunities for further expansion and training for aspiring entrepreneurs. The program's ultimate goal is to ensure that every region, district, and community benefits from national development initiatives, contributing to Sustainable Development Goals (SDGs) 8 and 11.

The BizBox program builds upon the achievements of the first phase of the Young African initiative, which ran from 2020 to 2022. Recognizing the significant potential of Ghana's youth, the government is committed to investing in their growth by providing support and resources to budding entrepreneurs.

Representing the Northern Regional Minister, Mr. Dramani Mumuni reiterated the government's commitment to addressing youth unemployment, which stands at twelve percent nationally. He emphasized the importance of collaborative efforts between government institutions, private sectors, and traditional authorities to tackle this issue effectively.

In conclusion, stakeholders encouraged young entrepreneurs to seize the opportunities offered by the BizBox program to grow their businesses and contribute to national development, ultimately fostering sustainable economic growth and prosperity.