Home Business We’ll Put Funds To Good Use – YEA Beneficiaries Assures CEO

We’ll Put Funds To Good Use – YEA Beneficiaries Assures CEO

YEA beneficiary receives funds
YEA beneficiary receives funds

Beneficiaries under the Youth in Garment and Textile Module of the Youth Employment Agency (YEA) have assured government of their determination to put the funds allocated them to good use and expand their companies.

The beneficiaries who have received their funds said the money received will help them expand and accommodate a lot of the trainees, by purchasing new machines, pieces of equipment and other tailoring materials to help with the smooth operation of the training processes.

These beneficiary companies gave this assurance when the Chief Executive Officer (CEO), Kofi Baah Agyapong and other officials from YEA carried out disbursement of funds to beneficiary companies in the Ashanti Region.

So far, the YEA has disbursed funds to beneficiaries in the Greater Accra, part of Eastern and Central Regions.
Addressing the beneficiaries in the Ashanti Region, Kofi Baah Agyapong pointed out that, management of the YEA has kick-started the disbursement of funds to some 500 small-scale dressmaking companies and 40 industrial garment and textile companies that were shortlisted to train 2,000 trainees in dressmaking.

He mentioned that, the fund disbursement under the Youth in Garment and Textile Module, was designed to bridge the skill gaps as well as create sustainable employment opportunities for young people interested in tailoring or dressmaking and ultimately contribute towards growth and development.

According to Kofi Baah Agyapong each of the 500 small-scale dressmaking and the 40 industrial garment and textile companies received more than GH¢18,000 and GH¢92,000 respectively as funding support to begin the training.

He stressed the point that government is supporting the YEA’s Youth in Garment and Textile projects because of the significant role the garment industry plays in the country’s economy, contributing to export revenue, employment generation and culture preservation.

He averred that the project is in line with the President’s vision of sustainable job creation for the youth, by ensuring that the majority of the youth benefit from various programmes rolled out by the YEA, which includes Youth in Garment and Textile Module, hence the need for beneficiaries to utilise the opportunity created by the government.

“For this reason, the government is supporting the garment and textile industry to train the many beneficiaries who applied for the programme to sharpen their skills to reduce unemployment and also contribute to the economic growth of the country,” he said.

He however stated that beneficiary companies are required to have active bank accounts as a condition for the disbursement of the funds, as monies will not be paid in cash or through mobile money.

Kofi Baah Agyapong said the YEA has approved little over one hundred (100) tailors and seamstresses in the Ashanti Region to benefit under the Module.

According to him, 95 of those approved beneficiaries have submitted their Bank Account details for disbursement of funds urging the rest of the beneficiaries to endeavour to do so.

“Don’t pay any commission to any YEA official, Report to the police should anyone comes to you to collect part of the money,” he advised.

He also explained to the beneficiaries that the YEA will give every trainee beneficiary GHC500.00 every month through their stay in training.

Beneficiaries who are excited at the development thanked the YEA and its CEO for the gesture and assured them that they are ready to work with the funds so as to yield the needed results.

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