The Vice President, Alhaji Dr Mahamudu Bawumia, yesterday launched the Business in a Box (Biz Box) project with about 250,000 youth set to benefit from it.
An initiative of the Ghana Enterprises Agency (GEA), the project aims at addressing the root cause of unemployment in the country and focuses on sectors such as agriculture, agribusiness, tourism, creative industry, building and construction.
It is being implemented under five pillars comprising: Youth Skills Development (YSD), Access to Markets (ATS), Access to Start-up Kits (ASK), Youth Social Networks (YSN) and Youth Social Networks and Institutional Strengthening, Policy and Regulatory Support (YSNISPRS) with funding of $55million from the MasterCard Foundation.
Dr Bawumia said the Biz Box was a transformative initiative birthed as a result of the collaborative effort between the GEA and the MasterCard Foundation and built on the successful Young Africa Works – Youth Entrepreneurship and Employment program (YEEP).
He said the Young Africa Works Project, with a budget of about $13million implemented between 2020 and 2022, impacted approximately 94,000 young people in the country.
“Now, armed with a budget of US$55 million, the new Biz Box project sets an ambitious goal to empower 250,000 individuals, support 125,000 with start-up kits, provide market access support to 50,000 businesses, and regulatory support to 40,000 businesses,” he emphasised.
Dr Bawumia noted that Biz Box project, would be implemented across all the 16 regions and 261 districts of the country, adding that “also benefiting diverse groups, including youth, Persons with Disabilities (PWDs), vulnerable females, majority women-owned businesses, and female youth-led businesses.”
He said that the project symbolised hope and opportunity, encompassing the tools, knowledge, and support necessary to initiate, develop, own, and grow successful businesses for young people in Ghana.
“As today marks a new chapter in our nation’s journey towards prosperity, and opportunity for all, it is a testament of our belief that it is possible to create a better future for our youth, women and people with disability. Therefore as we embark on this transformative journey to victory in creating 250,000 dignified and sustaining jobs, I invite each one of you to play an active role in shaping the success of the Biz Box project.
Let us unite in our commitment to nurturing the generation of entrepreneurs, innovators and leaders, and I believe that together we can turn the aspiration of our teaming youth into achievements, realities and sustainable projects,” he concluded.
The Chief Executive Officer of Ghana Enterprises Agency, Mrs Kosi Yankey-Ayeh on her part, expressed her commitment to the success of the project.
She said the goals and objectives of the project, aligned with existing government initiatives and policies geared towards employment generation.
“We recognise the importance of collaboration and partnership, to this end, Biz Box will leverage partnerships with private sector BDS providers, industry associations, and various stakeholders to ensure the success and sustainability of this program. We stand committed to supporting the dreams and aspirations of the youth, nurturing a generation of innovative and successful entrepreneurs who will contribute to the growth and prosperity of our nation,” she said.
