The National Youth Authority (NYA) has announced the government’s plan to offer flexible loans to young entrepreneurs to boost their businesses.
This initiative, under the Young Entrepreneurs Business Development program, is part of a broader strategy to drive industrialization by financing and supporting youth-led enterprises.
Speaking at the launch of the Youth and Women Business Policy Environment Reform (YWPER) Project, NYA CEO Osman Abdulai Ayariga reaffirmed the government’s commitment to creating an enabling environment for young entrepreneurs through funding and support.
“The government is exploring ways to provide flexible loans for young people,” Ayariga stated. “As part of our manifesto, we introduced the Young Entrepreneurial Business Development initiative, which will function like a bank or microfinance institution to support youth businesses. We are also prioritizing development in agriculture, industrialization, and entrepreneurship.”
He emphasized that the youth policy integrates opportunities across ministries and industries, ensuring young entrepreneurs receive fair business prospects without competing against multinational corporations.
“Youth-led businesses shouldn’t have to compete with global giants. We must create an enabling environment for them. Government tenders and contracts should allocate a percentage to youth businesses to foster growth.”
Through the NYA, the government aims to empower young entrepreneurs, drive innovation, and contribute to national economic development.
