The Eusbett Hotel in Sunyani, Bono Region, is set to host a significant initiative today Monday, December 11, 2023, at 9 am – the unveiling of the Business and Employment Assistance Programme (BEAP) under the Youth Employment Agency (YEA).
The Vice-President, Dr Mahamudu Bawumia, is billed to preside over this strategic response to the economic challenges posed by the global COVID-19 pandemic.
BEAP, a pioneering programme, aims to extend salary support to newly hired employees in small businesses and medium-scale enterprises, with a focus on rejuvenating Micro, Small, and Medium Enterprises (MSMEs) and providing crucial assistance to the youth facing pandemic-induced economic setbacks.
The Akufo-Addo government has earmarked a substantial amount of One Hundred and Twenty Million Cedis (GH¢120 Million) for BEAP, emphasizing its commitment to economic recovery. The programme is anticipated to benefit 10,000 MSMEs and 20,000 young Ghanaians, serving as a beacon of hope for those navigating the aftermath of the global economic downturn.
Given the severe impact of the COVID-19 pandemic on businesses nationwide, BEAP comes as part of the Akufo-Addo government’s COVID-19 Economic Recovery Programme (COVID-19 ERP). This initiative, in response to economic challenges, seeks to rejuvenate businesses and provide a much-needed boost to the economy.
BEAP, spearheaded by the YEA, aims to offer critical support to micro to small-scale enterprises. The primary objective is to revive 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 each expected to engage 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.
In preparation for the official launch on December 11, the YEA has engaged stakeholders in five regions, including influential Business and Industry Associations, to gather insights for effective BEAP implementation. Stakeholder engagements have taken place in Accra, Takoradi, the Eastern Region, and the Ashanti Region, with the series concluding in Tamale on December 4.
The YEA reiterates its commitment to the holistic development of MSMEs, aiming to create more decent job opportunities and contribute significantly to reducing youth unemployment in Ghana. As part of the preparations for the launch, media interviews and interactions were conducted, and the BEAP portal is expected to open 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………………
