Gov't to set up 'Youth banc'

The Finance Minister has announced the setting up of a scheme to help the youth set up businesses across the country.

To be referred to as ‘Youth Banc’, the scheme will be championed by the Enterprise and Youth Support Fund (EYSF).

Addressing members of Parliament (MPs) on Thursday, July 29 as part of the presentation on the mid-year review of the 2021 budget, Kenneth Ofori-Atta admitted that the issue of employment and jobs for the youth has been a worry to the government.

This, he stressed, has been exacerbated by the impact of the coronavirus pandemic.

Therefore, Mr Ofori-Atta said government is easing the restrictions in the private sector to enable businesses expand and create jobs for the youth.

“We aim to empower our youth to be at ease and venture into business.”

He said government has targeted a ‘1-million Jobs’ initiative to aggressively respond to the needs of the youth.

“Mr. Speaker, the Enterprise and Youth Support Fund, which aligns with Government’s overall strategy of developing a competitive and viable private sector economy, will Set up a ‘Youth banc’ with the aim of financing youth-led start-up businesses across the country.

“As part of this initiative, an online investment hub will be established for youth across the country to access information for the purpose of establishing businesses.

“Under this initiative, it is estimated that over 100,000 jobs will be created.”

By Emmanuel Kwame Amoh||Ghana

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