Minister Awal awarding certification of induction to one of the beneficiaries
THE JOHN Agyekum Kufuor Foundation (JAK) has launched the Kufuor Entrepreneurs Network (K-YEN).
The network, according to former President John Agyekum Kufuor, has been formed to support young Ghanaian entrepreneurs to become the future captains of industries in Ghana and Africa.
About 15 entrepreneurs aged between 18 and 45, have already been enrolled and inducted into the network.
They are involved in diverse areas of enterprises including fashion, furniture production and waste management.
K-YEN provides the platform for young entrepreneurs to be nurtured and supported to be resilient and sustainable.
Under the programme which has received partnership from the Brazil-Africa Institute, beneficiaries are to gain organizational development, growth and sustainability planning support; capacity building for CEOs and Management Team; access to financial package in the form of loans and grants; free exhibitions and profiling in national and international media; access to networks for uptake, sales and purchase of goods and services.
The beneficiaries are owners of businesses legally registered with the Registrar General’s Department, the Ghana Revenue Authority and the Social Security and National Insurance Trust (SSNIT).
Some of the beneficiaries are, as part of the requirements for membership, having at least five employees or apprentices within their respective organizations some of which include Alchemy Alternative Energy founded by Seth Quansah; Daysah Ventures; Eddyfast Enterprise which has Edward Osei as its Chief Executive Officer (CEO), among others.
In his keynote address at the inauguration on Thursday in Accra, Mr. Kufuor explained that the dream of the network was to produce entrepreneurs who will adhere to good business practices and uphold the interest of Ghana and Africa in the corporate world.
Sharing the experiences of his youthful life which he said was mostly spent in service to the nation and humanity, with the beneficiaries comprising young businessmen and women from all walks of life, the ex-president during whose tenure much attention was paid to private sector development under the Fourth Republic, bemoaned that the key challenge confronting the socioeconomic development of Ghana had to do with leadership problem, especially in the corporate world.
He lamented that the recent crisis in Ghana’s banking sector which witnessed the collapse of seven indigenous banks was reportedly due to bad business practices.
Mr. Kufuor admonished the beneficiaries to reverse the current situation by becoming businessmen and women of integrity and adhering to legal statutes of business.
Chief Executive Officer of the Kufuor Foundation, Professor Baffour Agyeman-Duah underscored that “part of the program is to form sustainable partnership,” upon which the Foundation has signed a Memorandum of Understanding (MOU) with the Brazil-Africa Institute.
President of the Brazil-Africa Institute, Prof. Joaso Bosco Monte, who signed the MOU on behalf of his outfit, expressed the belief that partnership with young business executives is fundamental.
He disclosed that by the agreement, some beneficiaries of the KYEN shall likely benefit from technical training programs in Brazil under the Youth Technical Training Programme of Brazil.
Minister for Business Development, Mohammed Awal, pledged Government’s support towards the success of the network, urging its members not to be afraid of taking up initiatives.
According to him, “do not let fear scare you from initiating moves to succeed. Fear should not stop you from doing your business.”
He disclosed that in 2019, the Akufo-Addo Government intends to come out with a GH¢200 million financial support package for young entrepreneurs and that members of the KYEN will be considered as some of the beneficiaries of that fund.
The Minister, in lauding the Kufuor Young Entrepreneurs Network initiative, pointed out that creating and grooming entrepreneurs was key to wealth and jobs creations.
BY Melvin Tarlue