Here is the NABCo YouStart Application portal 2022/2023. It has been announced by the Deputy Finance Minister, Dr. John Kumah, that the Nation Builders’ Corps (NABCo) would be incorporated into the YouStart initiative on July 1st, when it becomes implemented.
Also, according to Madam Freda Akosua Prempeh, the YouStart initiative will help NABCO Trainees secure long-term employment through the mass entrepreneurship policy.
What is YouStart Initiative about?
YouStart is an initiative that will lead to more jobs in the country. With the YouStart Initiative, Ghana may end its unemployment problem.
Trainees who are about to leave the NABCO Scheme but have an interest in starting their own business can benefit greatly from a more focused approach and encouragement to do so through YouStart.
With the implementation of the NABCo YouStart Initiative, 1 million jobs will be created. In order to alleviate the country’s youth unemployment problem, the government seeks to put appropriate measures in place to create 300,000 new businesses owners.
This accounts for 30% of the unemployed workforce in the country. These entrepreneurs can then help out by employing other people.
NABCo YouStart Implementation by Government 2022/2023
According to Dr. John Kumah, The banking sector believes that the government is aiming to create a more entrepreneurial nation by encouraging young people to start their own businesses.
As well, they’ve come to the conclusion that this is a positive development, and the government intends to flourish alongside the private sector.
As part of the YouStart initiative, the Ghanaian government has teamed up with a group/partnership of nine banks to provide loans to existing youth-owned businesses.
The partner banks will help current youth-led enterprises with between GH100,000 working capital and GH500,000 for individuals who need capital expenditure to launch their own businesses.
Nabco YouStart Initiative Participating Banks 2022/2023
According to the president of the Ghana Association of Bankers, the participating banks are as follows;
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- Consolidated Bank Ghana (CBG)
- Access Bank
- Absa Bank
- FBN Bank
- Fidelity Bank
- Ecobank and Bank of Africa
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When will the YouStart Application Initiative 2022/2023 begin/go live?
The NABCo YouStart Application Portal 2022/2023 is scheduled to go live in July.
The YouStart Application Portal will be activated after the Youstart Ghana Initiative is officially launched and announced on the appropriate media channels. As soon as the portal goes live, the youth will have access to it.
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