Asantehene, Otumfuor Osei Tutu II, has launched a project that seeks to address the unemployment problem in the Ashanti Region.
The project dubbed the ‘Otumfuor Entrepreneurship Challenge’, is expected to capture over 10,000 youth in the Ashanti Region.
The project lead, Micheal Kwatia, told Joy News that the initiative comes from Asanteman and has been positioned to assist mainly the youths in the Ashanti Region to start businesses that will help them earn a living.
“This new initiative is trying to tackle unemployment in Ghana…it is aimed at helping mainly Asanteman youth to start and grow businesses that will create wealth and jobs at the same time,” Micheal Kwatia said.
He stated that the project is expected to last for a period of five years and will assist over 10,000 businesses financially.
Micheal Kwatia indicated that the project will also target and empower businesses in the informal sector.
“One of the things we hope this project will achieve is a lot of formalization of the informal businesses. It’s not a project designed for only high-level business projects but rather our indigenous type of businesses that solve our day to day problems that we can help grow and expand,” he said.
He stated that entrepreneurs and individuals who wish to apply will have to pick an application form and if the applicant satisfies all the needs on the form, then the Otumfuor Entrepreneurship Challenge project will assist the business to grow over the period of time.
This project comes at a time when the unemployment situation in the country is on the rise and has been described it as a national security threat that should be addressed immediately.