The Business and Employment Assistance Programme (BEAP), being implemented by the Youth Employment Agency (YEA), aims to lower youth unemployment rates in the nation.
The initiative’s goal is to alleviate the financial burden that MSMEs experienced during the difficult COVID-19 epidemic period.
Speaking about the initiative, YEA CEO Kofi Baah Agyepong disclosed that the program’s Business and Employment Assistance Programme is anticipated to lower Ghana’s jobless rate by offering young people who are working toward securing a bright future with a lifeline.
Mr. Agyepong claims that the BEAP was created to provide assistance to faltering companies, as a recent Ghana Statistical Service survey exposed the difficulties experienced by firms, including as layoffs and wage reductions. The program’s goal is to give MSMEs a lifeline by offering GHS 500 in wage support for each hired employee, with employers covering the remaining amount.
The BEAP will target a variety of businesses, including schools, pharmacies, and chop bars, in an effort to reduce the financial load on these organizations and provide job opportunities for Ghanaians.
According to Mr. Agyepong, the initiative will help 10,000 businesses, which will enable the employment of almost 20,000 people.
The CEO thanked the government for supporting and approving the initiative, saying he thought it would be helpful in Ghana’s efforts to combat unemployment.
Additionally, he reminded the public that the YEA is financially stable thanks to the Communication Service Tax and underlined the organization’s dedication to using these monies only to create jobs.
Mr. Agyepong emphasized the accomplishments of the YEA’s earlier programs, which included collaborations with state organizations, skill development, and the promotion of job prospects.
He underlined the organization’s commitment to lowering youth unemployment and raising their standard of living in spite of the world economy.
