247 have received start-up capital of One thousand dollars to start their business
The Management of African Aurora Business Network (AABN), an Enterprise Development Organisation, has provided business development services to 1,220 youth and Micro, Small and Medium Enterprises for the past five years under the YIEDIE project.
Out of the number, two hundred and forty-seven of them have received start-up capital of One thousand dollars to start their business.
Mrs Maureen E. Odoi, the Executive Director of AABN told the Ghana News Agency at the 5th Regional Business Plan Pitching, Executive Coaching and Certification that said over the five years working with the YIEDIE project they have been able to train 23,700 youth.
The event was on the theme: "Empowering YIEDIE Youth: through AABN Innovative Business Development Services."
She said the YIEDIE project was a five-year project designed to create economic opportunities in Ghana's construction sector for the youth within 17-24 years.
She said five consortium partners led by Global Communities and supported by Mastercard Foundation implemented the project.
She said the project was targeted Accra, Tema, Ashaiman, Kumasi and Takoradi.
"We are certifying a total of 1,220 and they will present their business ideas to a grand jury and if they do extremely well, they will be given some grants to start their business," she said.
The Executive Director said they have decided to put in place innovative business ideas and innovative services that will help the business ideas to grow.
Mrs Odoi said each one of them has a Tax Identification Number and each one of them would be provided with a bank account through which the Fund would be disbursed.
She said about five per cent have started business without any grant support and as at 2018, a business health check conducted and results analysed indicated that 85 per cent of businesses that started were still in operation and have employed an average of two to five persons.
She said the module has worked and MasterCard together with partners were excited to see the implementation ending.
She commended the graduands for their hard work, which had enabled them to acquire the requisite skills within the period and urged them to bring bear what they learnt by creating jobs for others.
Madam Cynthia Mensah, Special Assistant to the President of Ghana National Chamber of Commerce and Industry (GNCCI), who represented the President of the Chamber said as a country "we are no longer interested in being a burden on others".
She said stakeholders were ready to shoulder their own responsibilities and to build a society and a country that could attract youth participation.
"We have the necessary sense of enterprise, creativity, innovation and hard-working people," she added.
Madam Mensah said the GNCCI was tasked to oversee all responsibilities of the private sector hub, and has collaborated with AABN to make sure businesses grow and expanded.
