The Member of Parliament for Madina, Hon. Dr. Francis-Xavier Sosu, has unveiled an ambitious plan to formalize and scale up at least 100 youth-led businesses by 2028, positioning entrepreneurship as a key solution to unemployment in Ghana.
Speaking on the initiative, Dr. Sosu explained that the Madina Chamber of Commerce (MCC) is actively identifying informal businesses within the constituency and guiding them through formal registration processes.
This includes securing business registration certificates, obtaining Tax Identification Numbers (TINs), and facilitating access to small-scale financing to help them grow sustainably.
“We are deliberately targeting young and informal businesses, supporting them to formalize, access credit, and build strong foundations that will allow them to thrive,” he stated.
International Exposure and Technology Transfer
As part of the strategy to strengthen local enterprise, selected innovative entrepreneurs will participate in trade and business exchange programmes in India.
Through these visits, business owners will gain exposure to advanced technologies, industrial practices, and scalable business models.
Where viable, the Chamber intends to facilitate the importation of relevant technologies to Madina and Ghana more broadly, contributing to local industrial development.
The initiative has been further strengthened by a landmark Memorandum of Understanding (MoU) signed between the Madina Chamber of Commerce and the Southern Gujarat Chamber of Commerce & Industry (SGCCI) of India.
The agreement establishes a structured framework for cooperation, including:
- Trade delegation exchanges
- Joint business forums
- Participation in international exhibitions
- Sharing of trade and industrial policy information
- Business-to-business matchmaking opportunities
SGCCI, one of India’s oldest and most influential trade institutions, represents more than 13,000 direct members and maintains strong influence within Southern Gujarat’s manufacturing and industrial sectors.
The partnership is expected to provide MCC members with access to international markets, trade intelligence, and cross-border investment opportunities.
The MoU was signed on behalf of the MCC by its CEO, Mr. Daniel Nuku Kove and Lawyer Belinda Narkey Quaynor.
Tackling Youth Unemployment Through Entrepreneurship
Dr. Sosu emphasized that addressing youth unemployment requires empowering young people to become job creators rather than relying solely on government employment.
“The solution to unemployment is not only about government providing jobs. It is about empowering our people to create businesses and industries that will, in turn, employ others,” he noted.
He expressed confidence that by 2028, at least 100 businesses supported under the initiative would be fully operational and contributing to job creation within Madina and beyond.
Legal, Compliance and Business Support Framework
The MP described the Chamber as a “holistic institution” that provides more than just networking opportunities.
Legal professionals within his office are offering guidance on:
- Business registration and due diligence
- Land acquisition and regulatory compliance
- Tax obligations and financial structuring
- Development of sustainable business models
In collaboration with the SME Centre of the University of Ghana School of Law, training sessions have already been organized in Madina to educate small and medium-sized enterprises (SMEs) on legal compliance and regulatory requirements.
Building Sustainable, Independent Institutions
Dr. Sosu stressed that the structures supporting these initiatives are designed to be self-sustaining and independent of any individual leader. The Chamber operates with its own governance board, chief executive officer, and administrative staff.
He cited earlier institutional models established in the constituency as proof that such projects can thrive independently and outlive political officeholders.
“Leadership is about building systems that endure,” he said. “These projects are designed to outlive me. Whether I remain in office or not, they will continue to serve the people of Madina.”
By Sampson Kumah Ifeetwube Elvis
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