Skip to main content

Government to establish a Youth Jobs and Enterprise Development Fund

President John Mahama has announced at the 68th UN General Assembly Thursday that his administration will introduce another programme to address unemployment in the country.

It is dubbed “Youth Jobs and Enterprise Development Fund”.

He said "it is our intention to bring an end to youth unemployment. What we have done in Ghana to address this issue is create the Youth Jobs and Enterprise Development Fund, a program that will provide young people with entrepreneurial skills and access to the funds needed to establish businesses or expand existing ones, thereby creating new employment opportunities."

This announcement comes after the President ordered for a prosecution of officials of the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA) who have been indicted in a scandalous report.

The report describes serious lapses and a disturbing trend of financial impropriety at the youth employment agency.

A finance expert Sydney Casely-Hayford called for an interim shutdown of GYEEDA saying the over GH¢1 billion that went waste to GYEEDA could have been used to build over 10,000 Senior High Schools and or to construct three of the George Walker Bush Highways (N1) for the country.

A senior member of the ruling National Democratic Congress Sam Pee Yalley also described GYEEDA report as horrible and stinky

Meanwhile, Kofi Bentil, Vice President of IMANI, a policy think-tank sees the new programme as yet another avenue for corruption.

Speaking to Joy News, he said government ought to "go slow" and think through any new programme carefully because the "problem of unemployment is wider than giving out monies to people to start or expand their business".

He said the root cause of unemployment in Ghana is a lack of quality basic education.

GYEEDA is a re-brand of the National Youth Employment Programme (NYEP) which was introduced in 2006 by the Kufuor Administration to help address youthful unemployment in the country.

Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…