‘Interest-Free’ Volta Youth Development Fund Launched

The Volta Regional Coordinating Council (VRCC) has launched the Volta Youth Development Fund, an initiative aimed at empowering young entrepreneurs and creating sustainable employment opportunities across the Volta Region.

The fund, conceived in 2025, will operate as an interest-free revolving facility designed to support youth-led businesses and entrepreneurial ventures in the region.

The initiative was officially launched on Saturday, March 7, 2026, at the Ho Technical University Auditorium.

Volta Regional Minister, Mr. James Gunu, who announced the initiative, said the fund forms part of efforts by his office to promote youth empowerment, stimulate local enterprise, and reduce unemployment among young people in the region.

According to him, the facility will provide accessible financial support to aspiring entrepreneurs, enabling them to establish and expand businesses while contributing to sustainable economic growth.

As part of his personal commitment to the initiative, Mr. Gunu pledged to contribute 10 percent of his monthly salary to the fund and made an additional donation of GH¢20,000. He also assured stakeholders of transparency and accountability in the management of the fund.

The historic launch was performed by the National Chairman of the National Democratic Congress (NDC), Mr. Johnson Asiedu Nketia, who donated GH¢500,000 to support the initiative.

Officials say the Volta Youth Development Fund is expected to play a significant role in nurturing innovation and strengthening the economic prospects of young people throughout the region.

Addressing the gathering, Mr. Asiedu Nketia called for a reorientation of Ghana’s educational system to emphasise innovation and entrepreneurship as a strategy to tackle the country’s growing youth unemployment.

He observed that the current structure of the educational system largely prepares students to seek employment rather than equipping them with the skills to create jobs.

According to him, the unemployment situation has been worsened by the orientation of many institutions that train students primarily for employment in government or established organisations.

“In many developed countries, universities focus on researching societal problems and developing solutions that contribute to economic growth, but here most of our universities are training students mainly to seek employment,” he was quoted by the Ghana News Agency as saying.

Mr. Asiedu Nketia noted that it was unrealistic to expect any government to employ all graduates entering the job market each year.

“It is simply not possible for any government to employ all graduates coming out of our universities. Somebody must begin to create jobs and employment opportunities so that others can also be employed,” he stated.

He described initiatives such as the Volta Youth Development Fund as important interventions that could support young people with innovative ideas to establish businesses and create employment.

Mr. Asiedu Nketia further cautioned that placing everyone on the government’s payroll would not be sustainable, as the country’s limited tax revenue would be insufficient to support such a system.

He therefore encouraged young people, particularly university students, to identify problems within society and develop practical solutions that could be transformed into viable businesses.

“Economies grow when people identify problems affecting society and convert solutions into sources of income,” he added.

Mr. Asiedu Nketia expressed optimism that the initiative would inspire similar interventions across other regions and within the corporate sector to help address youth unemployment nationwide.

The Volta Regional Minister expressed appreciation to the NDC National Chairman for supporting the initiative and urged individuals and corporate organisations to contribute to the fund to expand opportunities for young entrepreneurs in the region.