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The Chief Executive Officer of the Youth Employment Agency (YEA), Kofi Baah Agyepong says the Business and Employment Assistance Programme (BEAP) will help reduce Ghana’s unemployment rate by giving lifeline for countless young individuals striving to carve out a promising future.

According to him, the initiative seeks to address the financial strains faced by Micro and Small Scale Enterprises (MSMEs) during the tumultuous period of the COVID-19 pandemic.

Drawing upon a Ghana Statistical Service survey revealing the hardships faced by businesses including wage reductions and closures, BEAP emerges as a vital intervention to support these struggling enterprises.

Speaking to journalists in Kumasi on Wednesday, January 10, 2024, Mr. Agyepong said the BEAP aims to provide a lifeline to MSMEs, offering salary support of GHS 500 per recruited employee with the employer supplementing the remainder.

Targeting various establishments such as chop bars, pharmacies, schools and more, BEAP strives to alleviate the financial burden on these enterprises while bolstering employment opportunities for Ghana's workforce, he added.

Highlighting the programme's ambitious goals, Mr. Agyepong announced plans to support 10,000 companies, facilitating the employment of approximately 20,000 individuals.

He reassured Ghanaians of  YEA's sustainable funding from the Communication Service Tax, emphasizing the agency's unwavering commitment to directing these funds solely towards job creation.

Mr. Agyepong extended appreciation to the government for its endorsement and support, ensuring the programme's successful launch and initiation.

YEA has been instrumental in partnering with State agencies, offering skills training and fostering employment opportunities exemplified by the success stories of several programmes implemented over the past year.

Despite the admitted global economic challenges, he said; "We have been working hard to reduce the rate of unemployment and lessen the burdens of life on young people whiles affording them the opportunity to make ends meet."