The Social Investment Fund (SIF), has launched the Ghana Women and Youth Social and Economic Empowerment (GWYESCO) Loan Scheme at the West Gonja Municipal Assembly in Damongo, the capital of the Savannah Region.
The initiative aims to empower women and young people through financial support, skills development and business opportunities to promote entrepreneurship, create jobs and improve livelihoods.
Speaking at the launch, Hon. Yakubu Castro welcomed participants and expressed his gratitude for the opportunity to host the programme in the Savannah Region, particularly in the West Gonja Municipality.
He described the initiative as part of the broader development agenda of His Excellency John Dramani Mahama’s government, which he said includes school infrastructure, CHPS compounds, road projects and other construction activities within the first two years of the administration.
The MCE also commended the Social Investment Fund for introducing the GWYESCO Loan Scheme, which is expected to support 10,000 cooperative societies across the country.
He noted that women and young people stand to benefit significantly from the programme, particularly through access to financial resources to establish and expand businesses, support their families and improve their economic circumstances.
The Chief Executive Officer of the Social Investment Fund, Mr. Abass Nurudeen, explained that the GWYESCO Loan Scheme was designed to create employment opportunities for women and youth in the five northern regions, as well as the Central and Eastern regions of Ghana.
According to him, the programme also seeks to address the underlying factors contributing to vulnerability and extremism, particularly in northern Ghana, where limited employment opportunities remain a major concern.
Mr. Nurudeen further disclosed that beneficiaries would receive training in various income-generating activities, including agriculture-related processing such as beans, groundnuts and shea nuts. The programme will also provide introductory training in areas such as blogging and digital content creation.
He explained that participants would receive relevant equipment to enable them to put their newly acquired skills into practice, generate income and build sustainable livelihoods.
In addition, the programme will provide financial support and connect beneficiaries with partner businesses across the country to improve their access to business opportunities.
The SIF Chief Executive Officer also used the occasion to educate participants on the application process, outlining the requirements and procedures prospective beneficiaries must follow to access the scheme.
He announced that the application portal was already open and would remain open until 2029, encouraging eligible women, youth and cooperative societies to familiarise themselves with the requirements and apply.
The launch of the GWYESCO Loan Scheme in West Gonja marks a step towards expanding access to economic opportunities for women and young people in the municipality and beyond.
Through financial assistance, vocational training and business linkages, the initiative is expected to support entrepreneurship, strengthen local economic activity and contribute to improved livelihoods.
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