Young Ghanaian entrepreneurs require support system – Mastercard Foundation

Young Ghanaian Entrepreneurs require support system, access to finance and access to market to expand and for their businesses to thrive, Country Head of Mastercard Foundation, has said.

According to her, young Ghanaians were entrepreneurial and innovative, and with support they could build their own businesses.

Ms Fynn stated this at the Youth Economic Forum 2022 in Accra yesterday.

Under the theme “Youth Voices and Action for Economic Growth, Resilience and Employment, it formed part of the Ghana Economic Forum being organised by the Business and Financial Times.

This year’s Ghana Economic Forum is on the theme “Achieving Robust and Resilient Economy through Technology, Finance, Investment, Trade and Entrepreneurship.”

Ms Fynn said the youth had big ambitions and willing to put in hard work to create a shared prosperous future for themselves, their peers and community.

“Everywhere we look, we see youth agency at work and their collective effort is driving transformation in many sectors including agriculture,” she said.

The Country Lead said the entrepreneurial dexterity of the youth cut across agriculture, technology, and creative arts.

“Young Ghanaian women and men are innovative. Even in the most challenging of situations, they find ways to thrive. They are building, venturing into new businesses, and driving innovative solutions to address some of the biggest challenges impeding growth in micro, small and medium enterprises,” My Fynn, stated.

She said her outfit was committed to supporting the youth to build their own businesses to address the growing unemployment in the country.

“At the Mastercard Foundation, we remain committed to getting behind the ambitions of young Ghanaians and creating pathways to dignified and fulfilling work opportunities for them, “she said.

Ms Fynn indicated that the Young Africa Works strategy of Mastercard Foundation sought to enable access to dignified work opportunities for 3 million young women and men by 2030 by deepening efforts in the agricultural sector and exploring opportunities in emerging sectors of the economy.

“We believe that by doing this, and working alongside our partners, government, the private sector, and young people, we will unlock the full potential of young people to contribute to building back our economy and creating work opportunities for themselves and others, “My Fynn, said.

Earlier in a panel discussion on agribusiness, the panellists, the Chief Executive Officer of Oceans Mall Company Limited, Caroline Pomeyie and the Chief Executive Officer of Maku Food and Company Trading Limited, Caroline Amanor, indicated that high cost of capital was a challenge to SMEs and Start-Ups in the country.

They called for tax incentives and holidays for SMEs and Start-Ups for their businesses to thrive.

They also called for waivers on import duties for SMEs and Start-Ups to support the growth of their businesses.

The Chief Executive Officer of the Business and Financial Times, Dr Godwin Acquaye, in his remarks, said, the Youth Economic Forum was part of the 3-day Business and Financial Times Ghana Economic Forum.

He said the objective of dedicating a day solely for the youth, was to better amplify the opinions/voices of the youth and give impetus to their ideas.


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