Eleven beneficiaries of the Youth Inclusive Entrepreneurial Development Initiative for Employment (YIEDIE) project have received the YIEDIE Enterprise Fund Award in Accra. The award, which is a start up capital to selected young people who have received training under the youth initiative, aims at providing the needed financial assistance prior to the starting of beneficiaries’ intended construction businesses.
The Acting Managing Director of hfc boafo, Madam Evelyn Osei-Tutu, in her remarks as the chairperson for the event, outlined the role of hfc boafo on the project and the company’s commitment to ensuring all 23,700 young people targeted to be trained on YIEDIE are well equipped financially for the job market.
The YIEDIE Project Director, Mrs. Vera Kafui Mills-Odoi, encouraged award winners to appreciate the grants given them and use them judiciously, while reaching out to their communities and family members who may depend on beneficiaries. The Project Director further urged recipients to ‘go beyond our borders to encourage other youth to use the innovative approaches beneficiaries learnt to start on their own.’
Maxwell Ashong, YIEDIE Policy and Sustainability Specialist, outlined the grant beneficiary selection process. In all, 149 trainees applied for this year’s grant, a number which was screened to the final 21 through a number of processes. Applicants were expected to have had their trainer endorse their application forms, before undergoing a five – step selection process. The steps include a strong sustainability plan for the proposed venture, applicant’s technical know-how in the proposed business field and an active savings account to encourage financial inclusion of all grantees.
In all, eleven grantees were selected from Accra while ten were selected from Sekondi-Takoradi. Each award is worth about GHC 5,000, totalling GHC 108,108.00 for all 21 grantees in the two project locations.