Ninety businesses in Greater Accra today received some equipment ranging from digital and farming equipment to industrial sewing equipment, to help grow their businesses
This comes after successful participation in a business idea competition.
It is an initiative of the German Development Cooperation, implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Ghana through its Migration and Employment Promotion (MEP) component of the Programme for Sustainable Economic Development.
The Business Idea Competition is aimed at providing and promoting alternatives to irregular migration through fostering entrepreneurship, technical and vocational training, and Employment Promotion.
Winners of the competition initially went through various selection
processes after which 110 finalists participated in a pitching process, and a final 90 businesses were selected.
It is anticipated that such support will enhance employment generation and reduce migration amongst Ghana’s youth.
The GIZ-implemented Migration and Employment Promotion project supports local businesses in various operational regions including Ashanti, Bono, Bono East, Ahafo, Eastern, and Western Regions.
It has since 2017, equipped over 10,000 individuals (potential and returning migrants) with entrepreneurship skills to kickstart or expand their businesses; the project has already created over 800 jobs and self-employment opportunities which include a great number of newly started MSMEs.
Over 150 returning migrants have also been supported with business advisory services and equipment to enhance reintegration efforts.
400 participants have been trained in various skill areas such as carpentry and hairdressing, among others, in collaboration with the erstwhile National Vocational Training Institute (NVTI), now the (Ghana TVET Services); the participants further received various equipment to start their businesses.
In 2022, 200 entrepreneurs have been engaged to formalize their businesses and certify their products with relevant regulatory authorities.
The Migration and Employment Promotion Project is commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ).
One of its objectives is to strengthen and enhance the capacity of Public Employment Centers of the Labor Department of the Ministry of Employment and Labor Relations, through logistics support, to improve livelihoods.
Participants of the competition received equipment including Industrial Sewing machines, laptops, motorbikes, cake mixers, farming equipment freezers, and fridges among others to enhance business productivity.
The competition is also, being replicated in seven other regions including Ashanti, Bono, Bono East, Ahafo, Westem; Central and Eastern Regions.
Source: Citi business news