African Development Bank, Invest In Africa Strategise For Inclusive Growth

… Unveil MICROGREEN Project In Ghana, Senegal

TO provide livelihood opportunities and empower marginalised and vulnerable groups in Ghana and Senegal, the African Development Bank ( ADB) and Invest in Africa have jointly launched the MICROGREEN.

The project which is titled “Strengthening Women, Youth and People with Disabilities’ Micro Entrepreneurship for Green Jobs in Natural Resources ( MicroGREEN),” seeks to generate up to 500 green job opportunities while delivering essential business development services.

The ADB, through its Youth Entrepreneurship and Innovation Multi- Donor Trust Fund, has allocated a $ 1 million grant to support the MiCROGREEN project over two years. It will provide entrepreneurship capacity building and business skills to at least 1,000 youth aged 15- 35 years, with a target distribution of 60 per cent young women, 10 per cent persons with special needs, and 30 per cent other youth in both countries.

Speaking at the launch event recently, Ghana Country Manager for the Bank Eyerusalem Fasika, emphasised its commitment to addressing climate change and poverty challenges in alignment with Nationally Determined Contributions and Sustainable Development Goals.

Fasika highlighted several bank initiatives to foster inclusive development, particularly its gender strategy to empower women through access to finance, accelerating employability, and increasing access to social services. She also underscored the Bank’s collaboration with UN Women to empower women in the natural resources sector. “It is our conviction that applying a gender lens to job creation and local economic development can lead to an inclusive transition to a green economy which offers unique opportunities to reduce gender inequalities in the African labor market.”

Also speaking, Country Manager for Invest in Africa Ghana, Carol Anang, noted that the project’s rollout was timely and would serve as a magnet to attract and increase opportunities to improve livelihoods, particularly for vulnerable groups. “Our priority is to facilitate increased synergy between large international organisations and local entities to work together to spur inclusive growth as this project will enhance skills for employability.”

The project will utilise value chain- based small and medium enterprise development models to enhance employment creation, ensure the sustainability of micro- enterprises, and integrate beneficiaries into economic systems.