The Volta Youth Development Fund has begun its support programme for young entrepreneurs in the region with the disbursement of GH¢100,000 to its first group of beneficiaries.
The beneficiaries, selected from 10 districts across the Volta Region, were chosen through an assessment process aimed at identifying viable youth-led businesses with the potential to expand and create jobs.
The funds were presented by the Volta Regional Minister, James Gunu, together with members of the Fund’s management.
Mr Gunu said the initiative was designed to provide young entrepreneurs with the capital needed to grow their businesses, expand operations and create sustainable employment opportunities.
He described youth unemployment as an urgent challenge requiring a coordinated response and said empowering young people to establish and expand businesses remained one of the most effective ways to promote sustainable regional development.
The Minister linked the Fund to efforts to support the government’s 24-Hour Economy initiative, saying the development of youth-led enterprises would help create more employment opportunities.
He called on charitable organisations, philanthropists and corporate institutions to support the Fund to enable more young people to benefit.
Mr Gunu also encouraged young entrepreneurs to form cooperatives to improve their access to financing and support business expansion.
He assured them that the Volta Regional Coordinating Council was prepared to provide the necessary assistance to support their growth.
The Minister urged the beneficiaries to use the funds strictly for the intended business purposes and ensure that the investment generates measurable economic and social benefits for the region.
The Chairman of the Fund’s Board, Togbe Komla Sakpiti V, commended the Regional Minister for supporting initiatives aimed at addressing youth unemployment.
The Fund’s Administrator, Stephen Komla Dan Timinca, also expressed appreciation to the Minister for establishing the initiative, saying young people could make a significant contribution to the socioeconomic development of the region when given the necessary support.
The beneficiaries thanked the Regional Minister and the Fund’s management for the assistance and pledged to use the capital to expand their businesses and create employment opportunities for other young people.
