ABOFAP, Care International Initiate Youth Empowerment Project (BA/R)

Abono Organic Farming project (ABOFAP), an NGO based in the Brong Ahafo Region, in partnership with CARE International, is implementing “The Bank on Change” (BOC) Project in Techiman and Tuobodom aimed at addressing youth unemployment and empowering the youth in financial management.


The Project is also aimed at increasing the wealth creation potential of the youth by strengthening their entrepreneurial and managerial skills, enabling them to start diversifying and expanding their businesses. It is expected to encourage saving culture among the youth. The initiative is targeted at the youth between the ages of 16 and 35 years, both in schools and those out of school.


The project is being implementing in 60 communities with 145 Youth in Savings and Loans’ Association (YSLA) in the Techiman Municipality and Techiman North District, with a membership of 2760 youth.


The membership is made of 1455 females and 1201 Males. Nana Kwaw Adams, the Executive Director of ABOFAP made this known in a stakeholders meeting in Techiman to deliberate on how to sustain the YSLA groups after the end of the project in December, 2015.


He said 20 community volunteers had been selected and trained to support the project. The participants, he said, were taken through financial education, business development and entrepreneurial skills as well as youth games aimed at bringing them together.


In terms of success chalked so far, the Executive Director said 138 groups have received Further Financial Education (FFE), 120 completed the whole manual and 68 YSLA Groups received ‘Enterprise Your Life Education’.


Also, twenty (20) community volunteers (3 Females and 17 Males) have received training on YSLA methodology to enable them mobilize more savings and encourage more people to join the initiative. A total amount of GH¢ 137,365.00 savings, he disclosed had been mobilized since the inception of the project since 2013. He added that, the stakeholders were made up of chiefs, selected heads of departments, community volunteers, YSLA groups and media personnel.


Under the BOC project, many of the rural folks have taken up an initiative to support saving and borrowing by forming Youth in Savings and Loans’ Association (YSLA). The group meets weekly and saves a fixed amount between GH¢ 1.00 to GhH¢ 10.00. The savings are lent out to members as loans. All money not lent out is later transferred into the group Account at Barclays Bank branch in Techiman.


Source: ISD (Imoro T. Ayibani)

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