Chief of Staff Frema Osei Oapre has stressed the government’s dedication to economic transformation through the YouStart Intervention and the Ghana Economic Transformation Project.
She emphasized the importance of Micro, Small, and Medium Enterprises (MSMEs) to Ghana’s economy, stressing their vital role in contributing to GDP and employment.
“MSMEs are the engines of growth that propel our economy forward,” she stated.
Speaking at the grant award signing ceremony for Youstart Intervention and the Ghana Economic Transformation Project Beneficiaries held at the University of Ghana, the Chief of Staff celebrated the allocation of significant grants aimed at empowering MSMEs and fostering economic growth.
The government has disbursed over GH¢160 million to support local businesses, with additional grants of over GH¢15 million awarded to 420 firms, start-ups, and individuals.
In her keynote address, Frema Osei Opare announced that, as of July 31, 2024, the Ghana Economic Transformation Project had disbursed significant funds under various initiatives, including the COVID-19 Response Grant, Youth in MSME, Women MSME Grant, PWD Enterprise Support Programme, and the Enterprise Grow Programme.
“Our mission is to ensure these resources are used in ways that drive maximum impact and benefit for all Ghanaians,” she said.
The Chief of Staff also discussed the introduction of Regulation 2023 (L. I. 2470), which provides a standardized framework for defining and classifying MSMEs.
According to her, this move is designed to equip enterprises with the unique identifiers they need to thrive in a competitive environment.
Speaking about the government’s efforts to address youth unemployment, Hon. Opare stated, “Our administration has made strides to equip the young population with the necessary skills and financial resources to become job creators rather than job seekers.”
The ceremony also underscored the government’s commitment to inclusive economic growth, particularly for Persons with Disabilities (PWDs).
Hon. Frema Opare noted that for the first time in Ghana, the government has successfully designed and implemented special programs to support Persons with Disabilities.
The Ghana Enterprises Agency (GEA) was recognized for its role in empowering local businesses and driving job creation.
The Agency, the Chief of Staff said, has shown unwavering dedication to empowering local businesses.
“Let us continue to support and empower our entrepreneurs, ensuring that every Ghanaian has the opportunity to achieve their dreams and contribute to the nation’s growth,” she said.
She stated that with a total investment of over GH¢176 million in MSMEs and startups across Ghana since 2021, creating over 1,200 direct jobs, the government remains committed to fostering a resilient and inclusive economy.