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Ghana’s Largest Annual Young Entrepreneurs Gathering Successfully Held in Kumasi

DiskWarrior v6 Crack Under the theme “supporting youth enterprises for sustainable industrialization,” the 2022 Youth Entrepreneurship Summit and Expo (YES2022), the largest gathering of young entrepreneurs in Ghana, took place successfully in Kumasi, in the Ashanti Region. This 3-day event began on December 8th and ended on December 11th. Several hundred young entrepreneurs, including key stakeholders, academia, policymakers, and traditional rulers, attended the event. Speaking at the summit during the opening ceremony, the Chairperson of the Chamber, Mr. Richard Addison, indicated that The Ghana Chamber of Young Entrepreneurs exists primarily to champion the cause of young business owners in the country and has, over the years, adopted several initiatives and implemented a variety of innovative projects to support and promote the overarching goal of developing the extraordinary potential of the youth of Ghana to contribute to the socioeconomic development of our Motherland. He said that the yearlyYouth Entrepreneurship and Summit (YES)is the chamber’s flagship program, which seeks to promote youth entrepreneurship and create a platform for stakeholders to meet annually to brainstorm and explore creative approaches to addressing young entrepreneurs’ ever-changing needs and challenges. It is fitting that this year’s theme is “Empowering Youth Enterprises for Sustainable Industrialization” at a time when our dear country is struggling economically. We are all aware of the challenges confronting our nation on the back of the Covid-19 Pandemic and the simultaneous effects of the Russia-Ukraine war, which has exposed our over-dependence on externalities for sustenance as a nation.  Due to our heavy reliance on imports, there is a consensus that our country needs to industrialize because we must mass produce what we need. This will reduce bulk imports and increase youth employment. The summit aims to achieve this through peer-to-peer engagement, focused group discussions, panel discussions, workshops, and exhibitions.” He said He assured the government and development partners that the chamber’s doors would remain open to partnership and collaboration. Head of Entrepreneurship Projects and Business Development Services at the Development Bank Ghana, Mrs. Safakor Boadu, who represented the Deputy CEO at the summit, explained that DBG is a wholesale bank whose mandate is to promote inclusive and sustainable economic transformation by driving the growth of a competitive private sector. This is done by providing long-term financing to participatory financial institutions for onward lending to private enterprises. She said the Bank had partnered with GCYE to train at least 1000 young entrepreneurs to access medium-sized financing and scale up their businesses. Our partnership also focuses on women and youth since they are the main force behind community change. “We are happy to be here and wish to thank all other partners for making this program a success; SNV Ghana and GIZ.” She said For his part, the Programme Manager of Social Policy Session-Commonwealth Secretariat, London, Sushil Ram, noted that the commonwealth is focusing on strengthening youth employment and entrepreneurship policies; promoting employment and entrepreneurship in blue, green, and creative economies; developing digital and soft skills; strengthening of apprenticeships schemes and Technical Vocational Education Training (TVET) systems; and promoting private-public partnerships to address youth employment. “Youth employment and entrepreneurship issues cannot be tackled through fragmented and isolated interventions. They require sustained and concerted action with strong political will and sustained commitment by all stakeholders, including the government, the private sector, civil society, development partners, and young entrepreneurs. It needs to be at the center of all relevant national development frameworks, and therefore an integrated, coherent, and coordinated response is required. “Many young entrepreneurs are already shaping the institutions and processes which combine to create the world. Thanks to your efforts, the world is a better place, and we all need the uplift and encouragement of being inspired by your initiatives,” Mr. Ram said. In his address, the Minister of Trade and Industry, Alan Kyerematen, said it is essential for young entrepreneurs in the country to have continued renewals of ideas and values to ensure sustainable industrialization. There has been an increasing number of young entrepreneurs open to trying endless business possibilities to advance the country’s economic development. Mr. Kyerematen noted that this role is vital and requires businesses to exhibit dynamism and stability. “We cannot underestimate the importance of the continued renewal of ideas and values in society to ensure the hope of new enterprises. Undoubtedly, entrepreneurial innovation can lead to the reallocation of resources from the traditional agricultural sector to the modern manufacturing sector. What is needed are quality jobs through local industrialization,” he said. He further indicated that the government has set up several strategies to ensure that the youth are equipped to become entrepreneurial. “Despite the excellent picture painted of the role of youth entrepreneurs in sustainable industrialization, several challenges still need to be addressed to spur growth and development in Ghana. “It is against this backdrop that the government has put in place strategic measures to ensure the teeming youth, who are 60 percent of the country’s population, are better educated and equipped for the job market to become a digitally-enabled entrepreneurial generation,” he added. The minister said this in a keynote address read on his behalf by the Ashanti Regional Head of the Ministry of Trade and Industry, Osman Mahmuda, at the third edition of the Youth Entrepreneurship Summit (YES) organized by the Ghana Chamber of Young Entrepreneurs (GCYE) in collaboration with the Commonwealth Alliance of Young Entrepreneurs – Africa, GIZ, Development Bank Ghana, SNV Ghana, and YESS Fund.

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Mr Sherif Ghali,CEO of the GCYE, Recognized as Youth Achiever in Entrepreneurship at the National Youth Achievers and Mentors Awards

Tamale, Ghana – 5th August 2022 – Mr Sherif Ghali, the CEO of the Ghana Chamber of Young Entrepreneurs, has been honoured with the distinguished title of “Youth Achiever in Entrepreneurship” at the just-ended National Youth Achievers and Mentors Awards. The event, organized by the National Youth Authority, took place in Tamale, in the Northern Region of Ghana. This recognition is a testament to Mr Ghali’s exceptional contributions to the field of entrepreneurship and his unwavering dedication to fostering youth empowerment. The National Youth Achievers and Mentors Awards, a merit-based awards initiative, aims to celebrate and honour exceptional young leaders who have demonstrated remarkable achievements in their respective fields. Mr Sherif Ghali’s accomplishments within the realm of entrepreneurship have been nothing short of remarkable, cementing his status as Ghana’s Youth Entrepreneurship Ambassador and true trailblazer in the Ghanaian business landscape. Mr Ghali’s impressive achievements include: Mr. Ghali’s recognition as a Youth Achiever in Entrepreneurship serves as a source of inspiration for young people across the nation. His passion, dedication, and proven track record underscore his remarkable leadership qualities and unwavering commitment to driving positive change through entrepreneurship. Upon receiving this prestigious award, Mr. Sherif Ghali expressed his gratitude and emphasized his continued dedication to empowering the youth of Ghana through innovative entrepreneurship initiatives. He stated, “This award is not just a recognition of my efforts but a testament to the incredible potential that resides within the young entrepreneurs of Ghana. “I am committed to continuing our work in creating a vibrant ecosystem that fosters growth, innovation, and economic prosperity.” The Ghana Chamber of Young Entrepreneurs congratulates Mr Sherif Ghali on this well-deserved accolade and remains steadfast in its mission to catalyze youth entrepreneurship development across the nation. About Ghana Chamber of Young Entrepreneurs: The Ghana Chamber of Young Entrepreneurs is a leading organisation dedicated to advancing youth entrepreneurship and fostering an environment conducive to business innovation and growth. Through its impactful programs and initiatives, the chamber empowers young entrepreneurs with the skills, resources, and support necessary to succeed in the dynamic business landscape of Ghana. For more information, please visit www.gcyegh.org.

Mr Sherif Ghali,CEO of the GCYE, Recognized as Youth Achiever in Entrepreneurship at the National Youth Achievers and Mentors Awards Read More »

GCYE’s CEO Named Among Top 50 CEOs in Ghana for the Second Consecutive Year

Sherif Ghali, CEO of the Ghana Chamber of Young Entrepreneurs (GCYE) and Chairperson of the Commonwealth Alliance of Young Entrepreneurs – Africa (CAYE Africa), has once again been recognized as one of Ghana’s Top 50 CEOs by Avance Media. This marks the second consecutive year that Ghali has received this accolade, highlighting his continued influence in Ghana’s entrepreneurial landscape and his commitment to advancing youth-led businesses across Africa. The announcement was made by Avance Media’s Managing Director, Prince Akpah, who noted that this year’s selection also introduces the “Young CEO of the Year Award” to honor the most enterprising young leaders within the top 50. The public is invited to vote for their preferred candidate via yceo.votinghubgh.com, with the winners to be celebrated at the Africa Young CEO Summit in Accra on July 14. Ghali’s work with the GCYE has cemented his reputation as a key advocate for youth entrepreneurship. Under his leadership, the GCYE has become Ghana’s largest network of young entrepreneurs, providing mentorship, training, and funding opportunities to aspiring business leaders. Ghali has also played a leading role in drafting the Ghana Startup Bill, aimed at creating a supportive regulatory environment for startups, which is set to be presented in parliament. Beyond his role with GCYE, Ghali manages GhaTech Solutions, a technology company, and TIL Limited, a transport management firm, both based in Accra. His efforts have garnered several awards over the years, including Young Entrepreneur of the Year at the 2018 Youth and Mentors Achievers’ Awards and a special award at the 2017 National Young Entrepreneurs Awards. Through partnerships with international organizations like GIZ and the European Union, he has facilitated funding for over 50 young entrepreneurs, significantly impacting the economic landscape for youth-led businesses in Ghana. The Top 50 list for 2022 includes notable Ghanaian business figures like Caveman Watches CEO Anthony Dzamefe, Rigworld Group CEO Dr. Kofi Amoa-Abban, and 3Music Networks CEO Sadiq Abdulai Abu. This diverse lineup reflects the dynamic and resilient spirit of Ghana’s business community, which spans sectors from technology and media to agriculture and finance. Ghali’s repeated recognition underscores his dedication to empowering young entrepreneurs and shaping Ghana’s business future. A regular speaker at international forums, including the Commonwealth Youth Forum and ECA West Africa Business Forum, he advocates for policies that elevate young voices in the entrepreneurial ecosystem, not only in Ghana but across Africas.

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Over 600 women and youth owned MSMES in 13 Districts to be Supported To Formalize Their Businesses

To support green businesses that are making products and offering services that make use of waste materials and promotes climate resilience, SNV Ghana is partnering with the GCYE to facilitate a series of business support clinics for MSMEs in the Ashanti, Northern and Western regions.

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Over 400 Members Of GCYE Selected for The Obaatapan Pa Funding Programme.

The Ghana Chamber of Young Entrepreneurs (GCYE) has indicated that over 400 of its members who applied for the Government Obaatan pa Youth in Innovation Agriculture funding programme have been selected for the next phase. Speaking at the chamber’s head office, the CEO, Mr. Sherif Ghali, expressed gratitude to the National Entrepreneurship and Innovation Programme (NEIP) for the transparent and impartial manner in selecting eligible applicants. He employs other Government implementing agencies to imitate NEIPs steps to ensure support is given to genuine entrepreneurs and not overnight entrepreneurs or political party faithful as perceived by many. He explained that qualified applicants are currently undergoing training at various hubs and are expected to graduate by the end of the month. He said that after the training, successful applicants will receive funding support after some background checks by NEIP. In conclusion, he admonished the NEIP to ensure the final selection process would be fair and transparent as the previous. He also advised young entrepreneurs and selected applicants to be careful of fraudsters as they(fraudsters) take such opportunities to dupe people. “Only act on information or directives coming from NEIP concerning the process. If you are unsure, please call their office to verify before proceeding.” He said It will be recalled that the Ministry of finance and NEIP, in January 2022, announced an application for young Ghanaian entrepreneurs to apply for the first phase of “YOUTH IN INNOVATIVE AGRICULTURE SUPPORT” under the GHANA CARES “OBAATAN PA” PROGRAMME. The programme seeks to enlist young people between the ages of eighteen (18) to forty (40) Years who are into Agriculture to be trained and funded. Beneficiaries of the programme will receive an amount ranging from Ten Thousand (10,000) to One Hundred Thousand (100,000) Ghana Cedis. The Ghana CARES (Obaatan pa) programme is an unprecedented, bold, and audacious GHȻ100 billion post-COVID programme to stabilize, revitalize and transform Ghana’s economy to create jobs and prosperity for Ghanaians over three years. It is sequenced in two phases: a Stabilization Phase run from July to the end of the year (2020); and a medium-term Revitalization Phase from 2021-to 2023. The first phase of the programme builds on the actions already taken by the Government under the Coronavirus Alleviation Programme, including stabilization of the economy, ensuring food security, supporting businesses and workers, strengthening the health system, and passage of legislation to facilitate quick economic recovery. The second phase aims at revitalizing and transforming the economy from 2021-to 2023. It will focus on supporting commercial farming and attracting educated youth into agriculture, building Ghana’s light manufacturing sector, developing engineering/machine tools and ICT/digital economy, developing Ghana’s housing and construction industry, reviewing and optimizing the implementation of Government flagships, and key programmes among others.

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43% of SMEs in Ghana suffer Cyber-attacks in their business operations – GCYE Survey report reveals

Cyber-attack is one of the significant but silent killers of many Small and Medium Enterprises in Ghana. A nationwide survey conducted by the Ghana Chamber of Young Entrepreneurs and its partner, SNV Ghana’s European Union-funded grEEn project, reveals that more SMEs in Ghana are gradually falling prey to cybercriminals.   The survey discloses that about 43% of Small and Medium Enterprises in Ghana have suffered Cyberattacks from 2020 to 2021. This was announced at a multi-stakeholder dialogue held in the Ashanti Region last week. In a presentation, Cyber Security Expert Mr. Abubakar Issaka, who doubles as President of Cyberwatch Protection Ghana, indicated that SMEs who suffered at the hands of the cybercriminals lost money and some vital information on their businesses worth thousands of Cedis.  He added that the survey also unraveled that most SMEs got attacked more than once. “This means that the cybercriminals have made the Small and Medium Enterprises sector a lucrative arena for their attacks, hence the need for practical actions to avert further attacks.” As part of his presentation, the Cyber Security Expert provided safety etiquette to be espoused when one finds themself in cyberspace. He thus urged players in the Small and Medium Enterprises sector to take Cyber-attack (Cyber Crime) issues very seriously and invest in their Information System management. He (Mr. Abubakar) expressed his gratitude to the Ghana Chamber of Young Entrepreneurs and SNV Ghana’s European Union-funded grEEn project for bringing forth such nationwide engagement, which is still going on in other parts of the country. He appealed to stakeholders, the Cyber Security Authority, Government, NGOs, and Civil Society Organizations, among others, to support the advocacy of Cyber Security so that the challenges Cyber Crime poses to SMEs and Ghana at large can be mitigated if not eradicated. This, he says, will ensure a Cyber Safe Ghana. Also published by Ghanaweb

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SMEs urge government to decentralize operations of business regulatory agencies – Survey

Youth-owned Small and Medium Scale Enterprises (SMEs) want government to ensure services provided by business support institutions such as the Registrar General Department (RGD), Food and Drugs Authority (FDA), Ghana Standards Authority (GSA) and the Driver and Vehicle Licensing Authority effectively decentralized.  At a just ended nationwide multi-stakeholder dialogue on business registration and certification, they called on the government to ensure the offices or services of these regulatory agencies are extended to the various districts for easy access and cost-efficiency.  This call comes on the back of a survey that the Ghana Chamber of Young Entrepreneurs undertook. The survey report revealed that most SMEs in Ghana are not able to register their businesses or acquire other business-related certifications, licenses or permits because of the associated high costs and inaccessible offices or services. The survey report presented by the Chamber’s Chief Executive officer, Sherif Ghali, revealed that more youth-own SMEs are formalizing(registering) their businesses.  https://642c1b6364ff73492d70d62468254c63.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html However, they are faced with challenges such as high cost, cumbersome procedures, extortion, unbearable turnaround time, rampant system downtime, poor customer service, inaccessible offices, middlemen (Goro boys), fraud, unfriendly online portals, and Lack of coordination between agencies. The dialogue sessions were held in the Ashanti, Northern, Western, and Greater Accra Regions by the Ghana Chamber of Young Entrepreneurs and its Partner, SNV Ghana, under the European Union-funded GrEEn Project. Stakeholders deliberated on solutions to challenges SMEs faced in the business registration and certification process. It also offered stakeholders the opportunity to reflect on intriguing findings from the survey on the business regulatory environment in Ghana. Similarly, cyber security was a prime area for discussions as SMEs were taken through cyber security measures to ensure their operations are safe within cyberspace.  Published by JoyNews . Check it Out on JoyNews

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Young Entrepreneurs Divided on E-levy

Politicians, parliamentarians, young entrepreneurs, and, indeed, taxpayers in Ghana have been debating the proposed introduction of an ‘Electronic Transaction Levy’ or ‘E-levy’ in recent days, following the presentation of the 2022 Budget Statement to Parliament by Minister of Finance Mr. Ken Ofori-Atta, on November 17, 2021. The debate on the E-levy’s justification, fairness, and utility is at an impasse, and positions have become polarised. The 2022 budget, coming under the theme ‘Building a Sustainable Entrepreneurial Nation: Fiscal Consolidation and Job Creation,’ seeks to introduce several bold policy initiatives designed to restore macroeconomic stability, focusing on fiscal and debt sustainability in a callous economic environment. In a Twitter Space organized by the Ghana Chamber of Young Entrepreneurs to solicit the opinions of Young Entrepreneurs on E-levy, opinions were divided. According to some of the participants, the introduction of e-Levy isn’t a bad idea given the economy’s current stage and since it will serve as a means for the Government to raise funds for developmental projects, especially youth entrepreneurship development. However, they did not support the 1.5% rate and have since asked that the Government reduce it to 1%. Also, they propose an increase from 100 to 500 daily threshold. According to them, many small businesses were still recovering from the impact of COVID and hence, slapping a 1.5% e-levy sound hash. Some also believed that systematic failure brought about by the Government’s inability to widen the tax net to capture the informal sector is enough grounds for the Government to focus on finding better solutions to capture more people within the tax net than introducing this e-levy. The lead discussants were Mr. Richard Addison of Kent Investments and Agriprenuer Enyonam Manye of the Ghanaian Farmer. Rep from the Mobile Money Venders Association and a host of other key Young Entrepreneurs joined the discussion. The #YouthForum was hosted by the Ghana Chamber of Young Entrepreneurs CEO, Mr.Sherif Ghali.

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Government urged to decentralize youth entrepreneurship support policies

The newly appointed President of the Ghana Chamber of Young Entrepreneurs, Mr. Richard E. Addison, has called on government to decentralize all youth entrepreneurship policies initiatives. He said this in his new year message to members of the Chamber and young Ghanaian entrepreneurs. 2022 is a year for young entrepreneurs as the Government roll out many youth entrepreneurship policy initiatives. According to the Young Entrepreneur, these interventions are laudable. However, Government should ensure they get to discerning young entrepreneurs in all corners of the country. “Let us make sure these good initiatives like the YouStart, Ghana CAREs Obaatanpa, etc., are not centered in only Accra and Ashanti but the whole of Ghana. Let’s make sure those in the hinterlands get the support as well,” he stated. Mr. Richard E. Addison also used the opportunity to call on Government to ensure that all the youth entrepreneurs’ policies interventions are spread across the country for all entrepreneurs to benefit. “I call on Government to ensure that all interventions for young entrepreneurs and startups to be distributed fairly. We want transparency so that all young entrepreneurs and startups across Ghana will be able to know these interventions, know how to access them and where to go and sign up to access them. I will also appeal to the Government to keep things transparent and show us which districts have benefited from these interventions. “Let us make sure these good initiatives like the YouStart, Ghana CAREs Obaatanpa, etc., are not centered in only Accra and Ashanti but the whole of Ghana. Let’s make sure those in the hinterlands get the support as well,” he added. Read full statement below: A Happy New Year. Today, My and My team at GCYE would like to extend our New Year’s greeting to every young entrepreneur in Ghana and across the world. As we begin the year, I hope to look back at 2021 before talking about the prospects of 2022. The year 2021 was another year that saw the world greatly affected by COVID-19. Lockdowns and declarations of a state of emergency in many countries and regions placed restrictions on economic activities and our daily lives. Amidst this, The Ghana Chamber of Young Entrepreneurs, through partnerships, we were able to implement several projects that support the businesses of Ghanaian young people in diverse ways. As the new President of the Chamber, I am very encouraged by the steady progress, and I wish to express my sincere appreciation to everyone for putting in your best. Looking at the prospects of the new year 2022, I call on young people to come together to develop homegrown ideas that can solve our problems so we won’t continue to rely solely on the central Government. This year, the Chamber will be embarking on projects that will provide financial support to young entrepreneurs, build their capacity, and help youth transition to green and agriculture. We’ve already initiated a funding project dubbed; Young Entrepreneurs and Support Fund (YESS Fund), which seeks to be a sustainable funding pool for young entrepreneurs. Our flagship Youth Agriculture project (Brafie Youth Agric Project) will follow soon. Brafie will be one of the biggest agricultural revolutions of the year. Through Brafie, young people will return to their communities and have land to invest in farming. Also, the Young Entrepreneurs Summit and Expo is coming back bigger and better. The Summit, now renamed to Youth Entrepreneurship and Innovation Summit and Expo (YEIS), will showcase the products and innovations by young Ghanaian entrepreneurs and create an avenue for emerging and established businesses to meet under one umbrella to network and form lasting partnerships. I use this opportunity to call on Government to ensure that all the excellent youth entrepreneurs’ policies interventions are spread across the country so all decerning entrepreneurs can benefit. Let us make sure these good initiatives like the YouStart, Ghana CAREs Obaatanpa, etc., are not centered in only Accra and Ashanti but the whole of Ghana. Let’s make sure those in the hinterlands get the support as well. To our development partners and all stakeholders, we anticipate stronger partnership and collaboration as we continue to promote youth entrepreneurs in the country. We, as a chamber, have declared this year to be a year of financial support for youth businesses. With the government funding projects and our initiatives and partners, access to finance should not be a bigger problem for youth businesses in 2022 Thank you. Richard Addison President

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