Scrap YouStart to save Ghana over GH¢2 billion annually – ILAPI boss

Executive Director of the Institute for Liberty and Policy Innovation (ILAPI), Peter Bismark Kwofie, has called on government to scrap one of its flagship programmes; YouStart.

According to him, the cancellation of this programme will save the country over GH¢2 billion cedis annually.

In a press release sighted by GhanaWeb, Mr kwofie asserted that government cannot sustain the YouStart programme which will lead to its collapse in future just like NABCO.

"Government will need more than GHC2 billion annually to ensure YouStart is able to achieve its intent. However, the distressed economy under the Domestic Debt Restructuring programme cannot have the needed funds to ensure effective outcomes of the programme. It could be important to scrap the YouStart to save Ghana from more wasteful expenditures just as was observed during the NABCO implementation," part of the release read.

"Under this distressed economy, I think YoutStart must equally be scrapped. The YouStart programme also has no measurable policy impact to address youth unemployment and looks more of a vote-buying employment policy," it stated.

But the Deputy Finance Minister, Dr John Kumah, in September this year noted that the YouStart programme will create millionaires in the country.

According to him, the support of these start-ups will help create jobs for the teeming unemployed youth.

The Deputy Finance Minister said this during the signing ceremony with 13 Participating Financial Institutions (PFIs) to support the YouStart programme.

It would be recalled that the YouStart initiative was captured in the 2022 annual budget.

It is aimed at supporting youth-led enterprises with soft loans of up to ¢50,000.

The YouStart programme will also help start-ups and small businesses expand.

ESA/FNOQ