Member of Parliament for Afadzato South, Honourable Frank Afriye has reiterated calls for the establishment of a national youth development fund to address the country’s youth unemployment challenge.
The fund aims to provide accessible financing options, skills training, and innovation support to young entrepreneurs.
The proposed fund has three core pillars: micro-grants and concessionary loans for start-ups, scale-up financing for growth, and skills and innovation grants.
The initiative targets young people aged 18-35, enabling them to launch and grow their businesses, creating employment opportunities and driving economic growth.
The Member of Parliament while commenting on a statement made by the Krachi Nchumuru MP, Honourable Solomon Kuyon emphasized that youth unemployment is a national challenge requiring consensus, urging bipartisan support to draft enabling legislation.
“The aspirations of the young person in my constituency are no different from the aspirations of the young person in any other,” Honourable Afriye said.
The fund’s first pillar focuses on democratizing opportunities for young entrepreneurs, providing micro-grants and loans for ventures like bakeries, fishing, and graphic design.
The second pillar identifies and nurtures success, offering venture capital and growth loans to promising youth-led SMEs.
The third pillar recognizes that capital alone is not enough, providing grants for modern apprenticeships, vocational training, and innovation hubs.
This ensures Ghana’s youth have 21st-century skills, supporting master craftsmen and tech innovators.
Honourable Afriye called on Parliament’s leadership to form a bilateral working group to draft legislation, bringing the fund to life. “Let us work together to design a future where Ghana’s youth can thrive,” the member said.
By Prosper Kwaku Selassy Agbitor
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