Two hundred and fifty thousand young entrepreneurs are expected to benefit from the newly launched Business in a Box program, Bizbox, an initiative facilitated by the Chana Enterprise Agency in collaboration with the Mastercard Foundation.
Young entrepreneurs, especially women, the vulnerable in society, and Persons with Disabilities, will be able to access the 55 million dollars earmarked for the four-year program.
Vice President Mahamudu Bawumia who launched the initiative at a short ceremony in Accra said Bizbox will open an avenue for the youth to create decent jobs and contribute to national development.
He added that about one million jobs are expected to be created through this initiative.
The “Business In The Box” or BizBox project is focused on enabling and empowering young entrepreneurs, especially young women with business startups to acquire skills, gain access to markets, finance and technology to start, build and grow their businesses.
The program is based on five pillars, namely Youth Skills Development, Access to Market and Start-up kits, Access to Youth Social Networks and Institutional Strengthening Policy and Regulatory. It will also focus on Agriculture, Agric-business, Tourism and Creative Arts and Building and Construction.
The initiative will improve the well-being and resilience of young entrepreneurs by creating an enabling environment to support the growth of young entrepreneurs between the ages of 15 and 35 with essential tools, knowledge, and support to start and expand their businesses.
Vice President Bawumia said about 1 million jobs will be created for the youth through this program.
Minister for Trade and Industry, KT Hammond said the initiative will complement the government’s efforts to build the capacity of young entrepreneurs.
He entreated the beneficiaries to put the money to good use.
Chief Executive Officer of Ghana Enterprise Agency, Kosi Yankey Ayeh in a remark said the program will not only empower the youth but serve as a beacon of hope that will foster economic empowerment for a prosperous future for the youth of Ghana.
The Bizbox initiative will run till April 2027.