According to John Kumah, a deputy minister of finance, the Akufo-Addo administration is committed to using creative and long-lasting solutions to reduce unemployment in Ghana. According to John Kumah, a deputy minister of finance, the Akufo-Addo administration is committed to using creative and long-lasting solutions to reduce unemployment in Ghana.
The government is relying on avant-garde concepts like the YouStart project to make sure the strategy to combat unemployment is successful.
Eleven banks formally agreed to the Youstart Commercial Component on Tuesday, September 20, 2022.
According to Mr. Kumah, this means that the partner banks for the Youstart commercial initiative will grant loans to Ghanaian youth at lower interest rates ranging from GHC 100,000 to 500,000.
In addition, they won’t ask for collateral and will provide training and technical assistance to young people’s enterprises over the course of the next two to three years as we work to generate one million employment and enable a large portion of Ghanaian youth to become entrepreneurs.
“This is unprecedented and a commitment by this government to end unemployment in Ghana through innovative and sustainable means.
“The banks are responsible for their own assessment, disbursement and recovery of their loans with no Government interference,” the Ejisu Member of Parliament said.