Sunyani is set to host yet another impactful initiative on Monday, December 11, 2023, at 9 am – the Business and Employment Assistance Programme (BEAP), under the Youth Employment Agency (YEA).
The unveiling ceremony, will take place at the Eusbett Hotel in Sunyani, Bono Region.
The Vice-President, Dr Mahamudu Bawumia, will preside over the unveiling of BEAP, seen as a strategic response to the economic challenges posed by the global COVID-19 pandemic.
Under this pioneering programme, the YEA, will extend salary support to newly hired employees in small businesses and medium-scale enterprises. This innovative effort aims to rejuvenate Micro, Small, and Medium Enterprises (MSMEs) and provide crucial assistance to the youth grappling with pandemic-induced economic setbacks.
A substantial amount of One Hundred and Twenty Million Cedis (GH¢120 Million) has been earmarked for BEAP, underscoring the government’s steadfast commitment to economic recovery. Anticipating to benefit 10,000 MSMEs and 20,000 young Ghanaians, BEAP stands as a beacon of hope for those navigating the aftermath of the global economic downturn.
The severe impact of the COVID-19 pandemic, has witnessed businesses nationwide struggling with declining turnovers, leading to many facing dormancy. This has resulted in widespread layoffs, particularly affecting the crucial age group of 18-45, causing a surge in youth unemployment.
Recognizing the gravity of these economic challenges, the Akufo-Addo government promptly launched the COVID-19 Economic Recovery Programme (COVID-19 ERP). This emergency initiative aimed to rejuvenate businesses, providing a much-needed boost to the faltering economy.
In response to the government’s call, the YEA embraced the challenge from the ERP and is spearheading the implementation of BEAP, designed to offer critical support to micro to small-scale enterprises.
BEAP’s primary objective is to breathe life back into MSMEs affected by the global pandemic, enabling them to rehire laid-off employees, employ new workers, and provide essential skills for enhanced productivity.
The allocated GH¢120 Million will be distributed among beneficiary MSMEs, with the expectation that each engages a maximum of five (5) employees. Employees will receive a monthly allowance of GH¢ 500 as a top-up to their regular salary for one year, offering crucial support for businesses to recover and expand.
Leading up to the official launch, the YEA is engaging with stakeholders in five regions, including influential Business and Industry Associations, to gather insights for effective BEAP implementation. Stakeholder engagements have already taken place in Accra, Takoradi, the Eastern Region, and the Ashanti Region, with the series concluding in Tamale on December 4.
YEA reiterates its commitment to the holistic development of MSMEs, striving to create more decent job opportunities and contribute significantly to reducing youth unemployment in Ghana.
In preparation for the official launch on December 11, media interviews and interactions were conducted on Wednesday. The BEAP portal is expected to be opened for businesses to register and apply with the assistance of YEA officials.
Contact for Further Information:
For inquiries and clarification, Emmanuel Afriyie of the YEA Corporate Affairs Directorate can be contacted at 0240770624, and Chris Arthur of the Technical Services Directorate at 027………………
How to Apply:
Interested parties are encouraged to visit the YEA Website via www.yea.gov.gh or apply.yea.gov.gh or contact [email protected] for registration and application support.
