Ten out of 37 youth who applied for the second edition of Youth Inclusive Entrepreneurial Development Initiative for Employment (YIEDIE) in the Sekondi-Takoradi Metropolis have benefitted from a grant of over GHC5,000 each to start their businesses.
The beneficiaries whose business plans were feasible, viable and sustainable were selected to undertake three to six months’ apprenticeship training in metal fabrication, masonry, carpentry, interior decoration, fiber glass aluminum, draftsmanship among others.
A contract document was signed to indicate that the beneficiaries will use the grant for its intended purpose – also, they will be monitored and supervise until their businesses are established.
At the YEIDIE youth in construction enterprise fund awards ceremony in Takoradi, Mr. Abdul Salam Mohammed, YIEDIE Project Coordinator explained that YIEDIE is a five-year project to create economic opportunities in Ghana’s construction sector for the economically disadvantage youth.
The project, he said implemented by Global Communities (formerly CHF International) in partnership with the Master-Card Foundation, is to reach at least 23,700 youth with training in technical, life and entrepreneurship skills leading to employment.
“The project, applies an integrated youth-led market systems model to improve the capacity of youth and service providers across the value chain as well as increasing collaboration and support amongst construction sector stakeholders to improve their enabling environment” he said.
Also, he said the project is targeting approximately 113,000 youth who are between the ages of 17-24-year-old in cities such as Accra, Kumasi, Sekondi-Takoradi, Ashaiman and Tema who are unemployed or underemployed, out of school and living on less than $2 per day.
According to him, YIEDIE is being accomplished through five project components such as youth readiness for employment and entrepreneurship, access to financial service providers capable of serving youth, access to demand-driven training and service providers, youth enterprise start-up and recruitment by employers as well as collaboration for positive government policies.
Mr. Mohammed added that it is expected that over 14,000 youth will gain technical construction skills through participating in an apprenticeship programme, enhanced with entrepreneurship, life skills and safety and health training.
Again, he said at least 9,000 youth will receive the training that they need to become entrepreneurs in the construction sector along with support in microenterprise start-up or growth – all youth will receive financial literacy education and have access to business development services and job matching opportunities.
“In the YIEDIE consortium is Global Communities joined by Youth Empowerment Synergy Ghana (YES-Ghana), Opportunities Industrialization Centre Ghana (OICG), African Aurora Business Network LLC (AABN), HFC-Boafo Micro Finance Services Limited (HFC-Boafo) and Artisans Association of Ghana (AAG)” he said.
Mr. Lawrence Ankomah, HFC Branch Manager urged the beneficiaries to use their business plans to implement and grow their business.
“This should serve as basis to grow your business as well as train other people for the chain to continue” he added.