Ghana Chamber of Young Entrepreneurs (GCYE) has announced the launch of a ¢3 million member contribution-based Young Entrepreneurs and Start-ups Support (YESS) Fund.
The fund which is supported by the European Union-funded SNV Green Project is aimed at fostering youth-driven economic growth initiatives and innovation.
In his address, the Chief Executive Officer of GCYE, Sherif Ghali, underscored the challenges faced by young innovators in accessing finance and stressed the urgent need for financial resources and support.
He also highlighted the pivotal role played by the chamber in ensuring an enabling environment in Ghana’s entrepreneurship ecosystem.
“Over three years, the chamber diligently worked to establish this fund, consulting extensively with industry experts and regulatory authorities”, he said.
He furthered that the fund is a tangible testament to the chamber’s commitment to empowering Ghana’s young entrepreneurs, rooted in values of unity, trust, innovation, and belief in their potential.
In her statement, Marta Brignone, the Programme Officer at the EU Delegation to Ghana, highlighted that the YESS Fund is an innovative way of promoting sustainability amongst businesses.
“As a development partner, our role only extends to contributing to the fund. It now falls upon your shoulders to ensure the fund’s long-term sustainability and growth, ensuring that future generations can reap benefits.”
Bettina Schoop, the Component Manager at the GIZ AgriBiz project, commended the Chamber for the initiative and further expressed unwavering confidence in the chamber’s capacity to achieve the fund’s objectives.
“I firmly believe that this fund represents a significant and enduring legacy for the green project. We hope that a decade from now, upon our return, the fund will have thrived, benefitting numerous businesses, particularly those in the green sector,” she remarked.
The Chamber expressed gratitude to the EU-backed SNV Green Project for their crucial 250,000 euros contribution.
The CEO also called on other partners, governments, and organisations to join their transformative journey.
The fund’s launch was marked by a vibrant event, presided over by the SNV Country Director, with support from representatives of the EU, Development Bank Ghana, and the CEO of the National Entrepreneurs and Innovation Programme.