Mahama to launch GH¢10m youth fund as Ghana marks International Youth Day

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Created on Tuesday, 12 August 2014 00:00

Mahama to launch GH¢10m youth fund as Ghana marks International Youth Day

12 August 2014

President John Mahama will launch the Youth Entrepreneurship Support Fund today as part of Ghana's activities to mark the International Youth Day.

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The Fund is to assist young entrepreneurs with bright but struggling businesses in need of capital to run their business.

According to the United Nations, the International Youth Day on August 12 is a moment to recognize and celebrate the promise and power of young people to change their communities, their countries, and the world.

This is in formed by data which puts the number of youth between the ages of 15 and 24 to 1.1 billion worldwide.

About 85 percent of the world's population of youth live in developing countries. Nearly half (45.9 percent) live in low-income countries, while another third (34.1 percent) live in lower middle-income countries. The remaining fifth (20 percent) of youth live in upper middle- and high-income countries.

The sheer global youth population is challenging an old age maxim that the youth are the future leaders. Apparently, the future is now.

But many young people according to World Youth Data fall under the category of those who are not in education, employment, or training (NEET).

Ghana is not an exception and the fund will be seen as a key step by government to address fears that joblessness is a national security threat.

Then Deputy Youth and Sports Minister Joseph Yammin, told Joy News the fund is “open to anybody who has a very good proposal which can yield fruit and repay its facility that has been given to him”.

The idea to establish the fund was first announced in 2012 at the first National Youth Achievers Awards in Accra.

The President also told the world of government's intention about the fund while addressing the 68th United Nations (UN) General Assembly in New York in September last year.

Government released GH¢10million last June.

But government has seen opportunity in launching the programme today.

Source: Myjoyonline.com|Edwin.appiah|This email address is being protected from spambots. You need JavaScript enabled to view it.