NYA Tasks DBG To Develop Specific Youth & Women Policy

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The National Youth Authority (NYA) has called on the Development Bank of Ghana to develop a specific Youth & Women Policy to provide a framework for the Bank’s targeted support of them.

The Development Bank Ghana (DBG) is set-up to provide long-term financing for private enterprises, particularly those in the manufacturing, agriculture, agro-processing, ICT, and housing subsectors to enable their scaling for increased job creation.

Addressing a Press Conference yesterday, the CEO of NYA, Pious Hadzide indicated that since the DBG is mandated to provide the necessary support for Ghanaian enterprises to participate and thrive in the African Continental Free Trade Area (AfCFTA) market to drive economic development and improve revenue mobilisation in the country, there is the need for the Bank to ensure that the youth and women are taken care of.

He was speaking on the many opportunities that the 2022 Budget presents for the youth of the country.

According to him, the NYA stands ready to assist the Bank to facilitate the development of the Youth & Women Policy.

He also revealed that Government has committed USD 250 million to DBG of which USD 200 million has already been paid.

“An additional USD 550 million will be made available by development partners. The bank is expected to leverage on these resources to attract more local and international capital to boost entrepreneurship and job creation,” he said.

Pious Hadzide also averred that creation of jobs for the youth has been a central tenet of the Akufo-Addo Government and that after years of enduring a suspension of public sector employment, Government has caused 295,032 people to be employed onto the public sector payroll since 2017 with financial clearance granted for an additional 72,825 this year.

“The Government has additionally engaged 100,000 graduates of tertiary institutions to under NaBCo,” he added.

The NYA Boss also mentioned that the NPP administration has always operated under the belief that the true potential for job creation and economic development lies in the private sector and not the public sector, hence,  the agenda of the Government’s industrial transformation agenda of One District One Factory.

He mentioned the Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (GhanaCARES “Obaatanpa”) Programme as one of the many ways government cushioned the private sector from the adverse effects of the Coronavirus pandemic.

The priorities of the 2022 Budget Statement, he said is to build a resilient and robust economy which creates jobs and rewards initiative and entrepreneurship.

“The 2022 Budget therefore consolidates and develops on initiatives under the GhanaCARES programme. As a National Youth Authority in a country with an estimated 12.6 percent youth unemployment rate and about 50 percent youth underemployment rate, the question that I believe many of the youth are asking is what does all this mean for the youth of Ghana.

Touching on the YouStart Initiative which is under the CARES programme, he said  this will create employment opportunities for 1 million young people in the next 3 years.

“The initiative will support the training, funding and promotion of the businesses of young people to make these enterprises commercially viable.”

The initiative according to Pious Hadzide will be implemented by the National Entrepreneurship Innovation Programme (NEIP) and the Ghana Enterprises Agency (GEA) and is expected to begin in March 2022.

He encouraged the youth, especially the remaining 67,000 NaBCo beneficiaries, to take full advantage of the Initiative once it becomes operationalised, saying that government will support an additional 45 projects under 1D1F thereby bringing the total number of projects under 1D1F to 323 factories.

He also said, ten more Youth Resource Centres (YRCs) are being constructed by the NYA to support and promote the youth by providing access to trainings, tools and state-of-the art facilities.

He also noted that digitalisation and the adoption of ICT has been and remains a key component in the industrialisation drive hence government is taking steps to ensure that young Ghanaians, in every corner of the country become ICT literate in order to be relevant in the industrialised Ghana we are creating.

 

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