Consolidated Bank Ghana (CBG) has committed GHS 55 million to support approximately 3,000 women and young people. This funding is part of the Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Programme. The Social Investment Fund (SIF) is implementing this crucial initiative.
The GWYESCO Programme aims to improve the resilience and living conditions of women and youth. It achieves this through job creation, entrepreneurship, access to finance, and skills development. The GHS 55 million will be disbursed in phases over a 36-month period. The first tranche, representing about 25% of the total, will benefit approximately 800 beneficiaries.
This commitment aligns with Ghana's broader economic strategy to foster inclusive growth. Empowering women and youth through financial access and skills training is vital for sustainable development. Such programmes address unemployment and reduce socio-economic vulnerabilities across the country. They also contribute to national stability by creating economic opportunities.
Dr. Naomi Wolali Kwetey, Managing Director of CBG, confirmed the bank's commitment. She stated that CBG will ensure a transparent selection process and timely disbursement of funds. Dr. Kwetey emphasized that this financing reflects CBG's dedication to economic inclusion. It also creates opportunities for women and young people. This partnership expands access to funding for women, youth, and micro, small, and medium enterprises (MSMEs).
The GWYESCO Programme will run from 2026 to 2028. It targets young people aged 18 to 35 and women aged 18 and above. The programme focuses on training in science, technology, engineering, and mathematics (STEM). It also includes digital and creative skills development. Improving access to finance for women- and youth-owned MSMEs is a key objective. The programme will operate in the Central, Eastern, Upper West, Upper East, and Savannah Regions.
Beyond economic empowerment, GWYESCO seeks to promote peace-building and social cohesion. This is especially important in Northern Ghana. Communities there face challenges from conflict, violent extremism, poverty, and climate change. The programme also strengthens institutional capacity for monitoring, evaluation, and conflict prevention. It incorporates environmental and social safeguards.
Abass Nurudeen, Acting Chief Executive Officer of the Social Investment Fund, highlighted CBG's leadership. He noted that CBG is the first among participating financial institutions to disburse funds. Apex Bank and Ghana Commercial Bank are also expected to contribute. This financing provides critical support to entrepreneurs. It helps address unemployment and other socio-economic vulnerabilities. The intervention is a strategic investment in Ghana's women and youth. It targets those in regions with higher economic vulnerability and social risks. This initiative will strengthen technical skills and business development services. Its ultimate goal is to create sustainable livelihoods and improve social stability.