The National Entrepreneurship Innovation Programme (NEIP) has urged young entrepreneurs to take self-development seriously to help ensure success and reduce the country’s unemployment situation.

NEIP Director of Business Support and Policy, Franklin Owusu-Karikari assured government is committed to improving the business environment and wants young people to take advantage and create jobs.

“Do your due diligence and market testing because the economic situations may be different in different countries. Be honest to yourself, increase your time with customers, maintain high standards, concentrate on your core mandate, and build your core business. Build capacity,” he told young entrepreneurs.

Mr. Owusu-Karikari was speaking at a webinar to officially launch the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI-MDTF).

The fund is being run in partnership with the African Guarantee Fund for Small and Medium-sized Enterprises (AGF).

The programme is undertaking training and mentorship for 80 youth-led start-ups and micro, small and medium-sized enterprises in Ghana. 

It will provide training, capacity-building support, coaching, and mentoring to address issues affecting youth-led businesses with a focus on investor readiness to access finance. 

The NEIP is the public sector referral partner.

“YEI-MDTF has come to ensure we make something different. This is an idea whose time has come. Let’s take full advantage. Let’s go through mentorship and training programmes. NEIP is here to assist to make dreams come true,” Mr Owusu-Karikari noted.

GFA Consulting, the coordinating partner for Ghana, is expected to use an innovative business diagnostic tool to match young entrepreneurs with business coaches and mentors.

GFA Consulting will also provide them with support and capacity building to submit bankable business proposals, with the objective of linking them to local financial institutions and private equity funds.

“If we do not find innovative and creative solutions to address the challenges that young people and women face when setting up and running their business, the continent will struggle to achieve its 2030 vision, where young people have access to education, good skills, and are able to start, build and grow a business,” the Managing Director of GFA noted.

The YEI-MDTF initiative is also implemented in four other African countries, namely Nigeria, Mali, Togo and Zimbabwe.