shefghali

According to him, the Trade Ministry taking over the office of the Business Development Ministry, following President Nana Addo Dankwa Akufo-Addo abolishing of seven ministries in his new government and the merging of others with similar roles, “is not a good feeling”. Calling for the retention of programmes under NEIP, Mr. Ghali further petitioned the President to allow the defunct Business and Development Ministry to operate under the presidency as the Trade Ministry is already saddled with its own itinerary and programmes.    “One would always want that we have a ministry that is focused on the business community; the development of entrepreneurs. But like the President said, the Ministry for Business Development was created for a purpose of which it has achieved the purpose, so it needs to be taken out.  “However, we believe that some of the initiatives the Ministry of Business Development were embarking on, we want them to be retained. We want to see how the Trade Ministry will find a way of ensuring that those things are still going on, and one thing as a business leader your business community wants is that, the national entrepreneurship and innovation plan, that is NEIP, we want it to actually not go directly under the ministry of trade; I have a reason for that. We want it to go directly under the office of the President; if that is done, we believe that, the Trade [Ministry] is having a lot of agencies under them implementing one or two programs. If NEIP should be added to it, I think that NEIP will not be able to function as it’s supposed to be. “So, the initiatives that were embarked by NEIP under the ministry of business development, we are praying that if NEIP stands under the Presidency they will be able to carry on those project. But, as it stands now, it doesn’t change anything; we still believe that the Trade Ministry will do its best, we only hope the Trade Ministry will work with the private sector players to make sure we are able to gel well to dialogue on policies before they come out. We hope that the Trade Ministry will be more engaging and consulting so far as the private sector is concerned”. Sherif Ghali Commenting on the outstanding challenges of access to credit financing, taxation among others facing entrepreneurs with the commencement of AfCFTA in the host country Ghana, Mr. Ghali stated that, businesses are struggling as there isn’t proper understanding of AfCFTA to leverage its opportunities. “One thing we need to understand is that, aside all these, we are looking at a country that should have a strategy for AfCFTA. No matter the issues we are facing internally, when it comes to our entrepreneurs not being able to access funding; what is the strategy of Ghana as far as AfCFTA is concerned? What is our program lineup going into AfCFTA? That is the one thing that is lacking. I know African countries that have issues with access to credit and all that but the fact is that, they all have a strategy… what is Ghana hoping to sell out? “Even if today our government is able to provide access to funding…at the end of the day, what is our strategy? How are we helping these businesses to go beyond the borders of Ghana?” Private sector key to AfCFTA success and Africa’s recovery from COVID-19

The Ghana Chamber of Young Entrepreneurs and partners today launched the AfCFTA Ghana Youth Bureau which is aimed at advocating, providing information, business support services, mobilization of investment and building the capacity of young entrepreneurs to ensure they benefit fully from the AfCFTA agreement. Speaking at a brief launching ceremony held at the head office of the Chamber, the CEO Mr. Sherif Ghali indicated that, the Chamber will set up desk for AfCFTA Ghana Youth Bureau at the head office and this desk will be led by dedicated officers Mr. Delali Anyigbah, (Director of Programs) and Mr. Stephen Opoku-Dankwa, (Director of Research, Policy, Monitoring and Evaluation). The Chamber believes that the best way to mobilize the youth to capitalize on the AfCFTA is to guide, support and prepare them. They must understand what AfCFTA is, its benefits to them and their businesses, and where to successfully start from. With AfCFTA Ghana Youth Bureau, many youth businesses and/or young entrepreneurs will have a one-stop shop to access information and support. He also added that, the Chamber and its partners will setup a multipurpose portal that will help profile Ghanaian youth businesses for investment and business matchmaking with other youth businesses across the continent and that the chamber will also roll out regional sanitization workshops to educate, empower and engage the young entrepreneurs on AfCFTA. “We have a dedicated team and we are going to have a desk setup here in our office to provide all the necessary information and support to our members as far as AfCFTA is concerned. We shall also launch a multipurpose portal that will profile Ghanaian youth businesses for investment and business matchmaking with other youth businesses across the continent.” It is evident that, young people make a large number of small business owners in Ghana and Africa. They predominate economic activities and their enterprises drive economic and social transformation. There is no doubt they are the engine to drive the success of the AfCFTA and together we achieve the Africa We Want – an integrated, prosperous and peaceful Africa. Ghana Chamber of Young Entrepreneurs (GCYE) – is the official network of young Ghanaian business owners with interest covering every private enterprise sector with the primary objective to unite, engage, and promote initiatives and innovations of young entrepreneurs to facilitate support in their pursuit of economic prosperity. Media Contacts Mr. Scofray Nana Yaw Yeboah | Director of Communication| AfCFTA Ghana Youth Bureau | Ghana Chamber of Young Entrepreneurs | E-mail: scofray@gmail.com Mr. Sherif Ghali | Chief Executive Officer | Ghana Chamber of Young Entrepreneurs | E-mail: shefghali@gmail.com

The Ghana Chamber of Young Entrepreneurs has called on the National Board for Small Scale Industries (NBSSI) to as a matter primacy consider businesses owned and run by young people when disbursing the 600 million stimulus package earmarked for businesses. The chamber said the call is necessitated by results emanating from a survey conducted on the impact of COVID–19 pandemic on the operations of its members Speaking at the head office of the Chamber, the CEO, Mr. Sherif Ghali indicated that the survey which was conducted from April 13th to April 30th 2020 revealed that about 45% of Small and Medium Enterprises (SMEs) owned and run by young entrepreneurs are likely to fold up which will subsequently result in about 60% of persons employed by young entrepreneurs losing their jobs. This, he said, calls for an immediate intervention since young entrepreneurs constitute a greater percentage of the SME population in the country and thus contribute significantly to the growth of the economy. He said the government’s 600 million stimulus package therefore could not have come at a better time than this. He called on NBSSI, the government agency mandated to carry out disbursement of the fund, to consider young entrepreneurs during the evaluation and disbursement period. “On many instances, interventions such as this are only focused on big entrepreneurs or enterprises. Young people are always marginalized for whatsoever reasons. So, we believe the trajectory for this package should be different. Special treat should be given to business owners under 35 years since they are the future giants of our economy. He further stated that most of these young business people are considered high risk and as a result rarely get access to bank loans or investment support.  “So, this will be the opportunity to help them out especially in these uncertain times,” he said. Sherif Ghali used the opportunity to thank NBSSI for putting in place measures that seek to make the disbursement process transparent through broad consultations.  “It is essential to alleviate the fears of many that perceives the fund could be politicized,” he added. The award-winning young entrepreneur also disclosed that, the Chamber will soon be launching an initiative which will seek to complement government’s efforts by looking for funds and grants to support youth businesses. President Nana Addo Dankwa Akufo-Addo, on April 5, announced a soft loan scheme of up to GH¢600 million for SMEs, which would sustain the country’s affected industries and address the disruption in economic activities caused by the COVID-19 pandemic. “Government, in collaboration with the National Board for Small Scale Industries (NBSSI), Business and Trade Associations and selected commercial and rural banks, will roll out a soft loan scheme up to a total of GH¢600 million, which will have a one-year moratorium and two-year repayment period for micro, small and medium scale businesses,” he stated. In view of the impact of the disease on Ghana’s economy, which is expected to cost in excess of GH¢9 billion, the government has set aside a stimulus package of GH¢1 billion for industry.

Earlier this week, The Committee set up by the Ghana Chamber of Young Entrepreneurs to advocate for the Ghana Startup Act paid a courtesy call to the Ministry of Business Development, the Ministry charged with the responsibility to work on the Act. The committee, supported by the Private Enterprise Federation is charged with the responsibility to rally support for the Act and also work with the Ministry to ensure that the content in the Act is relevant and timeless. The Chief Director of the Ministry met the Committee on behalf of the Minister, speaking at the meeting the CEO of the Chamber, Mr. Sherif Ghali gave background information on the committee’s activities and its composition. The Committee members are made up of different youth entrepreneurship organizations within the ecosystem. “The Chamber identified the need for the Ghana Startup Act and has been working on its since 2018. Recently, we saw the need to bring on board other organizations within the ecosystem to help champion this cause. Just like Tunisia and Senegal who now have their Startup Act, the Act was championed by various youth entrepreneurship organizations and that gave them the advantage to collectively push for the Act, he asserted On his part, Chief Director Alhaji Hafiz Adam mentioned that the Ministry also has in its plans to push for the Entrepreneurs/SME’s Act which is in line with the Ghana Startup Act. The chief Director expressed gratitude to the Committee for the work done so far and promised that the Ministry will support the committee to complete their part and present their document for onward stakeholder engagements. The committee also thanked the Ministry for having as part of their agenda to push for the Act and indicated that the committee’s work will be simplified since the Ministry is willing to take up the enactment of the act. “We (committee) have consulted legal brains, Tunisian and Senegal startup act and have come out with a proposed bill for the Ghana Startup Act which we intend engaging with the youth in the private sector to make sure it represents their inputs. We will present this to the Ministry after we are done with our consultation/engagement with the start-up community”, he concluded.

The just ended 2019 Young Entrepreneur’s Roundtable Discussion organized by the Ghana Chamber of Young Entrepreneurs saw a 7-member committee inaugurated to lead the advocacy and to drive the enactment of the Ghana Startup Act. The committee is made of members from the Chamber and some other key youth leaders including one celebrity entrepreneur (Enoch Nana Yaw Oduro- Agyei a.k.a Trigmatric). The proposed Startup Act according the CEO of the Chamber (Mr. Sherif Ghali) will be structured around five main thematic areas; Defining Startups, Encouraging Entrepreneurship, Creation of a special tax incentive package to support start-ups, Access to Funding and Access to International markets. It will also look at reserving a special package of the NABCO programme for start-ups. He used the opportunity to call on young entrepreneurs and youth entrepreneurship stakeholders to come together to help push this agenda as it seeks to solve an age long problem that have bedeviled the Ghanaian startups. He also called on development partners, the public and private sector to join hands in making this dream a reality. Mr. Helleman, Country director for Konrad Adenauer Stiftong (KAS)cheered the young entrepreneurs to work together and counsel them to stop complaining and start suggesting and creating solutions to their problems. “No body knows the problems of young entrepreneurs than you the young entrepreneurs, so stop complaining and start thinking of solutions to your problems. This is the only way government will take you serious” he advised. He ended up by repledging his support for the chamber. Also speaking at the event, the CEO of the Private Enterprise Federation(PEF), Nana Osei Bonsu told the young entrepreneurs to be serious with the chamber and encouraged them to build legacy businesses. The Chairman of the event, Mr. Kwaku Agyemang-Duah, CEO of the Ghana Oil Marketers Association inaugurated the committee and charged the group to work hard to leave up to the mandate given to them. He pledged his continuous support to the chamber and promised to avail himself to advise when need be. The committee will start working as soon as possible and shall report to the Chamber who shall subsequently report and update stakeholders and partners. Speaking on behalf of the committee, Mr. Agyenim Boateng thanked the chamber for the confidence reposed on them and promise to work together with his team to deliver. The just ended 2019 Young Entrepreneur’s Roundtable Discussion organized by the Ghana Chamber of Young Entrepreneurs saw a 7-member committee inaugurated to lead the advocacy and to drive the enactment of the Ghana Startup Act. The committee is made of members from the Chamber and some other key youth leaders including one celebrity entrepreneur (Enoch Nana Yaw Oduro- Agyei a.k.a Trigmatric). The proposed Startup Act according the CEO of the Chamber (Mr. Sherif Ghali) will be structured around five main thematic areas; Defining Startups, Encouraging Entrepreneurship, Creation of a special tax incentive package to support start-ups, Access to Funding and Access to International markets. It will also look at reserving a special package of the NABCO programme for start-ups. He used the opportunity to call on young entrepreneurs and youth entrepreneurship stakeholders to come together to help push this agenda as it seeks to solve an age long problem that have bedeviled the Ghanaian startups. He also called on development partners, the public and private sector to join hands in making this dream a reality. Mr. Helleman, Country director for Konrad Adenauer Stiftong (KAS)cheered the young entrepreneurs to work together and counsel them to stop complaining and start suggesting and creating solutions to their problems. “No body knows the problems of young entrepreneurs than you the young entrepreneurs, so stop complaining and start thinking of solutions to your problems. This is the only way government will take you serious” he advised. He ended up by repledging his support for the chamber. Also speaking at the event, the CEO of the Private Enterprise Federation(PEF), Nana Osei Bonsu told the young entrepreneurs to be serious with the chamber and encouraged them to build legacy businesses. The Chairman of the event, Mr. Kwaku Agyemang-Duah, CEO of the Ghana Oil Marketers Association inaugurated the committee and charged the group to work hard to leave up to the mandate given to them. He pledged his continuous support to the chamber and promised to avail himself to advise when need be. The committee will start working as soon as possible and shall report to the Chamber who shall subsequently report and update stakeholders and partners. Speaking on behalf of the committee, Mr. Agyenim Boateng thanked the chamber for the confidence reposed on them and promise to work together with his team to deliver.

The Ghana Chamber of Young Entrepreneurs (GCYE), charged with the responsibility of uniting, engaging, and promoting initiatives and innovations of young entrepreneurs in pursuit of business profitability, growth, sustainability and economic development of young entrepreneurs, recently signed an MOU with Start-up SME Centre (SSC) an organization that helps entrepreneurs to raise capital for their businesses. As part of the MOU, GCYE will collate business plans of its members and submit to SSC for review and consideration for investment capital mobilisation /sourcing. SSC on their part will review the business plans and subsequently submit to investors for possible funding. The ceremony which took place at the offices of SSC here in Accra, saw Mr Sherif Ghali signing for and on behalf of GCYE in his capacity as CEO while Mr Nelson Godfried Agyemang signed for and on behalf of SSC in his capacity as Executive Chairman. Speaking before the signing took place, Mr Sherif Ghali lauded Start-up SME Centre for their great works. He said the collaboration could not have come at a better time than this as raising capital has been the bane of doing business, especially for young entrepreneurs. Expressing optimism, he hoped this would go a long way to assuage the numerous challenges confronting young entrepreneur. Taking his turn to speak, Mr Nelson gave the assurance that his outfit was ever ready to work with GCYE to improve the businesses of the young entrepreneur as they do not only help companies to get funding but organize capacity building training as well. He said their services could easily be accessed because they have offices/centres across the length and breadth of the country. For young entrepreneurs to access this support, they need to submit their business plans through an online platform that will subsequently be submitted to SCC.

The Ghana Chamber of Young Entrepreneurs (GCYE) has announced the successful completion of their retreat for the restructuring of the chamber. This took place on the 18th to 21st September 2019 at Pasandy Hotel, Amansaman, Accra. The Ghana Chamber of Young Entrepreneurs (GCYE) is a network of young Ghanaian business owners with interest covering every sector of the private enterprise. As an advocacy group, GCYE was formed in 2016 with the primary objective to unite, engage, and promote initiatives and innovation of young entrepreneurs to facilitate support in their pursuit of economic prosperity. GCYE aims to drive trade, advocate for reforms, provide business support services with needed information on funding source to facilitate access to credit and improve the business eco-system for the enhancement of entrepreneurship culture among young people in Ghana. The CEO, Sherif Ghali, in his notice of appreciation, expressed his profound gratitude to the Chamber’s Restructuring team and all the young entrepreneurs for their inputs during the 4-day retreat geared toward the restructuring of the chamber. He indicated that the Chamber is now in a better position to represent the interest of young entrepreneurs in Ghana and said “The chamber shall ensure your voices are heard and that your inputs on policies are considered. It shall also provide the best quality of leadership to ensure all young entrepreneurs benefit from the chamber. In the near future, breath-taking initiatives shall be introduced to help mitigate the many challenges young businesses face”. This retreat was powered by Konrad Adenauer Stiftung (KAS ) under the leadership of Dr. Burkhardt Helleman, whose support to the chamber has been humbling and exemplary. As part of the Retreat, were experts who spoke on thematic and strategic areas to help achieve the agenda therein. The program director of NYA, Mr. SulemanaMumuni submitted a paper on Develop and Deliver a paper on Policy Advocacy actions and strategies for GCYE. He also made presentation on the National Youth Policy and indicated the willingness of NYA to collaborate with the chamber. Among the experts were, Mr. Venan Sondo (Sustainability development Expert), Mr. Ernest Agyenim-Boateng (Project Management Expert and Successful Young Entrepreneur), Kwadwo Frimpong Kyere (Senior Business Dev. Services Manager for Empretec Ghana). The retreat ended successfully with the following major highlights: A Charter for the Chamber, A Comprehensive Work Plan for the Chamber, The Ghana Startup Advocacy’s Action Docket and other breathtaking programs and initiatives to roll out soon. On this note, the chamber is calling on all young entrepreneurs to signup with the chamber by visiting www.gcyegh.org/signup.php.

The Ghana Chamber of young Entrepreneurs (GCYE) has said it is open to further discussions with the government over the imposition of taxes on consumers especially its members. This resolution was disclosed by Dr.Sherif Ghali, the CEO of GCYE, and his executives. This follows the increase in the communication service tax (CST) to 9% according to the Finance Minister at the 2019 Mid-year Budget review; the Government proposes to increase the communication service tax (CST) to nine percent to develop the foundation for the creation of a viable technology ecosystem in the country. The Communication Service Tax (CST) was introduced in 2008 at an ad valorem rate of six percent. The tax is levied on charges payable by consumers for the use of communication services. The communication service tax ACT 2008 (Act 754) stipulates that at least 20% of the revenue generated from the tax shall be used to finance the youth employment programme. Per our observation, this is the second time telcos tariff has been increased in just less than ten months as a result of government fiscal management. In November 2018, the then Mid-year budget review saw the separation of the 5 percent GETFund and NHIL levies from the VAT. This led to telcos increasing their tariffs effective November 1, 2018, transferring the cost to consumers. About more than 90% of young entrepreneurs in Ghana depend on the services of the telcos in running their businesses and with the already operational burden on these young entrepreneurs such as annual business operating permits charged by municipalities, high cost of office rent, high cost of fuel, high lending rate among many other related challenges confronting young entrepreneurs, the Ghana Chamber of Young Entrepreneurs (GCYE) is calling on the government and the ministry of communication to reconsider this increment. GCYE was established under the NYA with the primary aim of advocating and serving as the mouthpiece of young entrepreneurs, providing information on the funding source, facilitate access to credit and provide business support services to its members. It is an associate member of the Private Enterprise Federation and the Commonwealth Alliance of Young Entrepreneurs and African Young Entrepreneurs with over 1,000 registered young entrepreneurs across the regions of Ghana. GCYE believes that if nothing is done about this CST increment, many young entrepreneurs will face lots of challenges in their business since most will not able to bear its consequent burden

The largest network on young entrepreneurs in Ghana has officially been espoused as members of the Private Enterprise Federation. The Private Enterprise Federation was established in 1994 as the apex institution to forge consensus and provide the leadership voice for advocacy, on the initiative of the Association of Ghana Industries, Ghana National Chamber of Commerce and Industry, Ghana Employers’ Association, and the Federation of Associations of Ghanaian Exporters; with the support of the United States Agency for International Development (USAID). The Ghana Association of Bankers (GAB) was later admitted as the fifth founding member and the Ghana Chamber of Mines (GCM) was also added as a member later on. Four (4) new members namely, Ghana Chamber of Telecommunications (GCT), the Ghana Insurers’ Association (GIA), the Association of Oil Marketing Companies (AOMC’s) and the Liquefied Petroleum Gas Operators Association (GLiPGOA) have joined the Federation as full-fledged members since October 2012. The latest members to join is the Association of Small Scale Industries (ASSI), the biggest informal association and the Chamber of Bulk Oil Distributors (CBOD), were also admitted as members by the Governing Council in 2015 and 2016 respectively. PEF as a non-profit, non-political, autonomous institution and a Company Limited by guarantees under the Ghana Companies Code, Act 179, has its membership open to all private businesses and trade associations from both the formal and informal sectors of the economy. Five new applications for membership including that of the biggest informal sector association are pending for consideration and approval by the Federation’s Governing Council. GCYE who shares in the vision and mission of PEF applied for a membership and was recently approved by the governing board of the Federation. According to the CEO of GCYE Mr. Sherif Ghali, “this is a great opportunity for us as budding young entrepreneurs to learn from captains of the industry and to tap into the rich advocacy level of the Federation to drum home our concerns and policy recommendations” He added that, young entrepreneurs should consider this as a milestone and join the Chamber to have their concerns reached decision making bodies and amplify their network to accelerate their business growth. The Ghana Chamber of Young Entrepreneurs (GCYE) is a network of young Ghanaian business owners with interest covering every sector of the private enterprise. As an advocacy group, GCYE was formed with the primary objective to unite, engage, and promote initiatives and innovation of young entrepreneurs to facilitate support in their pursuit of economic prosperity. GCYE aims to drive trade, advocate for reforms, provide business support services with needed information on funding source to facilitate access to credit and improve the business eco-system for the enhancement of entrepreneurship culture among young people in Ghana. The GCYE is duly registered with the Registrar Generals Department and the National Youth Authority (NYA) with a membership of 7500 across the nation. The GCYE is an associate member of Commonwealth Alliance of Young Entrepreneurs-West African (CAYE-WA). https://www.modernghana.com/news/933223/ghana-chamber-of-young-entrepreneurs-now-members-of-the-priv.html?fbclid=IwAR2OvPYdTIWzcWtH01zUn5eHBbbK7h2VkFt01dCQ0nuRersRGL4FqFLupCk