Emmanuel OchayiThe African Development Bank (AfDB) Group, in collaboration with the non-governmental organization Dare to Innovate, has launched the “Project to Build the Resilience of Small and Medium-Sized Enterprises in Guinea, Ghana, and Benin.”
This project, initiated on October 5th, aims at empowering 4,500 micro, small, and medium-sized enterprises (1,750 in Guinea, 1,750 in Ghana, and 1,000 in Benin), with a focus on female leadership.
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During the project’s launch, key stakeholders, including representatives from the Bank and Dare to Innovate, officials from various government ministries, and the director of OZE, the project’s implementing partner, came together for a press conference to celebrate the initiative.
Aminata Kouyaté, National Director of Employment and Self-Employment in Guinea, expressed her gratitude, saying, “We are delighted to thank the African Development Bank for its constant support to the Republic of Guinea in the fight against unemployment and underemployment. Our country has placed young people at the heart of the Transitional Government’s agenda, and that is why the project will receive the support it needs from the authorities for its implementation.”
She emphasized the remarkable work of Dare to Innovate in fostering social entrepreneurship in Guinea and its collaboration with the Guinean government.
Dare to Innovate, a non-governmental organization, has been a driving force in addressing youth unemployment. Since its inception in 2013, it has invested in training, financing, and post-financial support for young entrepreneurs.
The organisation has supported over 40 projects, with more than $3 million in funding, resulting in the creation of 400 businesses and 800 direct jobs, benefiting over 12,000 young people.
Richard Doffonsou, the African Development Bank’s Principal Country Economist for Guinea, reaffirmed the Bank’s commitment to the project’s success, urging stakeholders to ensure its sustainability and foster the growth of beneficiary enterprises.
Djibril Souaré, Country Director of Dare to Innovate and the project’s coordinator, expressed gratitude for the confidence and funding provided by the Bank and partners, pledging to do everything necessary to achieve the project’s objectives.
The “Project to Build the Resilience of Micro, Small, and Medium Enterprises in Guinea, Ghana, and Benin” is financially supported by a $927,807 grant from the African Development Bank, sourced from the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEIMDTF).
The grant agreement, signed by the Bank in February 2022, stipulates an 18-month implementation period for this transformative initiative.
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