According to John Kumah, Deputy Minister of Finance, the Akufo-Addo administration is determined to end unemployment in Ghana through innovative and sustainable ideas.
The government is relying on innovative ideas like the YouStart project to ensure that the unemployment plan is implemented.
On September 20, 2022, 11 banks formally signed the Youstart Commercial Component.
This means that under the Youstart commercial programme, these partner banks will make loans ranging from GHC 100,000 to GHC 500,000 at reduced interest rates, according to Mr Kumah.
They will also not require collateral and will provide training and technical assistance to young people’s businesses over the next 2-3 years as we seek to create 1 million jobs and empower a large number of Ghanaian youth to be business owners and creators.
“This is unprecedented, and it represents this government’s commitment to ending unemployment in Ghana through innovative and sustainable means.”
“The banks are responsible for their own loan assessment, disbursement, and recovery with no government intervention,” the Ejisu Member of Parliament stated.
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