Regional News of 2014-08-16

The YES Fund is doubtful-Rev. Bosumtwi

The Right Rev. Stephen Bosomtwi of the Obuasi Methodist Diocese is expressing doubts in the implementation of the Youth Entrepreneurial Support. (YES). He said, a hindsight of the government’s attitude of such Funds has not been impressive. He sighted the Ghana Youth Entrepreneurial Employment Agency (GYEEDA) which has been involved in corruptive practices thereby undermining the rationale for which it was set up, yet efforts of government to retrieve the amount is woefully inadequate. His pessimism has been heightened by the absence of modalities on the fund. These he said, should include the qualification of applicants, is it for only the youths of the National Democratic Congress(NDC) as it happened during the Brazil 2014 where the government sponsored NDC members to travel or all youths, whether it is a loanor a grant, and if it is a loan, what is the source and the interest rate. Rt Rev Bosumtwi was speaking on the Frontline: the Morning Show of the Rainbow Radio International. The Reverend Minister who shares opinion on most national issues noted that, government should as a matter of urgency, deal with the fast rate of the depreciation of the cedi and create an enabling business environment else, the Fund would collapse. He said, he doubts the fairness of the implementation of the YES and hopes, it would not be a means to ensure, ‘create, loot and share’ scenario. He noted that, there are other Youth- centered institutions like the National Youth Authority, so why create a new Secretariat that would also take more resources to set up. The President just launched a GHC10 million to assist the youths of the country with entrepreneurial spirit, to set up their own businesses. The Fund dubbed the Youth Entrepreneurial Support has been criticised from many quarter as to the genuineness of the YES, the amount being insufficient and the intentions of the government.Source: Godfred Sey
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