All about YouStart: A graduate work program

The three-year program that elapsed in October 2021 but was extended for an additional year will end in September. The initiative sought to reduce the unemployment ratio of Ghanaian university graduates.

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Instead, they will be encouraged to start their own businesses as part of a new government-backed training program called Nation Builders Corps.

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The programme is benchmarked against similar successful models in the US and UK. It aims to commit about GHS10 billion over the next 3 years towards the creation of at least a million jobs. The project is part of the GHS100 billion Ghana Cares “ObaatanPa” programme which was launched by Government in November 2020.

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NABCo Modules

The Nation Builders Corps had many modules that catered to all graduates from all sectors of the economy. The modules sought to provide the needed support for graduates and to build their portfolio. These included: Educate Ghana, Focus on STEM and other subjects in primary and secondary schools, Heal Ghana, Feed Ghana, Provide extensive support to farmers across Ghana and Revenue Ghana.

Youstart

Youth entrepreneurship and start-up grants are expected to culminate in job creation, job sustainability, business innovation, and growth for enterprises owned by the youth in the country. YouStart is a vehicle through which Government intends to provide funding and technical support to youth and youth-led businesses.

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Features of YouStart

The Youstart program has 4 features. Each feature has its own target group, the amount involved, implementing agencies, and the project partners. These features have been discussed below.

District entrepreneurship programme

Target group: All urban and rural youth entrepreneurs

Funding: Up to GHS100,000 at concessionary rates

Implementing Agencies: GEA and the NEIP

COMMERCIAL PROGRAMME

Target group: All medium-sized businesses across the country

Funding: A standardized loan up to GHS500,000 at a concessionary rate

Project Partners: NYA, TVET Services, and YEA

Project Partners: 13 Participating Financial Institutions (PFIs) -Ghana Association of Banks (GAB)

YOUSTART GRACE

Target group: unemployed youth across Ghana with priority for, women-owned businesses and rural entrepreneurs.

Project Partners: Faith-based organizations

YOUSTART NABCO

Target group: NABCO beneficiaries

Implementing Agencies: NABCO Secretariat, GIA, and NEIP

Project Partners: NYA, TVET Services, and YEA

Source: Adesuafie.com

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