By Caleb Kuleke
Ho, July 25, GNA- The Volta Youth Development Fund (VYDF) has officially disbursed a total of GH¢100,000.00 to its first batch of beneficiaries, marking a significant milestone in the economic advancement of the region.
The beneficiaries were selected from ten districts across the Volta Region following a rigorous, transparent assessment process conducted by the fund’s management team.
This evaluation ensured that the financial support was directed toward viable, impactful, and youth-led enterprises capable of driving community-level growth.
The money was presented to the beneficiaries by Mr James Gunu, the Volta Regional Minister, and some members of the management of the fund.
Mr Gunu stated that the fund aimed to provide critical capital to help individual beneficiaries grow and expand their businesses.
He said the initiative also sought to create sustainable employment opportunities for young entrepreneurs within the region, thereby fostering local economic development and reducing unemployment.
The Minister called for an urgent approach towards youth development, emphasising that empowering young entrepreneurs was the fastest vehicle to reduce youth unemployment and achieving sustainable regional growth.
Mr Gunu explained that fostering youth entrepreneurship was crucial for sustaining the 24-Hour Economy initiative, emphasising the establishment of the VYDF as a measure to assist the government’s efforts, in providing employment opportunities for young individuals.
The Minister said youth unemployment had become a matter of national security, urging charitable groups, philanthropists, and corporate bodies to contribute to the fund to empower more young entrepreneurs to eliminate youth unemployment.
The Minister encouraged young entrepreneurs to establish cooperatives to gain access to funding for business growth and job creation, noting that the Volta Regional Coordinating Council was prepared to provide essential assistance.
Mr Gunu urged the beneficiaries to utilise the capital judiciously, strictly applying it to business growth and expansion that will yield measurable socio-economic benefits for the Volta Region.
Togbe Komla Sakpiti V, the Fund’s Board Chairman, thanked the Regional Minister for his efforts at advocating for projects that benefit the region.
He stated that youth unemployment was a problem that required individuals and non-governmental organisations to support the government’s effort at addressing it.
Mr Stephen Komla Dan Timinca, the Administrator of the Fund, also expressed gratitude to the Minister for his vision in creating the Fund to assist young entrepreneurs in the region.
He said young people could greatly contribute to improving the socioeconomic growth of the region and the nation at large when given the opportunity.
Some of the beneficiaries who spoke to the Ghana News Agency expressed profound gratitude to the Regional Minister and management of the Fund for the support
They pledged to utilise the capital to enhance the growth and expansion of their businesses and generate employment for other youth.
GNA
Edited by Maxwell Awumah/ Christabel Addo