Mastercard Foundation & Kosmos Innovation To Train Young Entrepreneurs In Ghana’s Agriculture Sector

The Mastercard Foundation and the Kosmos Innovation Center (KIC), today reported the start of an organization to prepare the up and coming age of youth and business visionaries in Ghana’s horticulture area.
Named Initiative for Youth in Agricultural Transformation (I.Y.A.T), the program will scale KIC’s demonstrated groundbreaking model and drives, for example, the AgriTech Challenge, Business Booster, and Business Incubation across the 16 areas of Ghana.

This will empower the youth and people in the agribusiness and farming areas to profit from capacity building, access to finance aids, and business scaling avenues – which can provide 163,000 Ghanaian ladies and men with jobs.

The four-year, $16 million programs is in line with Mastercard Foundation’s Young Africa Works’ vision and work in Ghana, which aims at strengthening endeavors in the farming and agriculture sectors by the use of chain market frameworks, to create satisfying work for Ghanaians.

The program additionally lines up with KIC’s objective of supporting the up-and-coming pioneers, business people, new companies, and independent ventures, to fabricate a better and more different economy that is powered by nearby ability and advancement.

Speaking at the launch, Benjamin Gyan-Kesse, Executive Director of KIC, said: “This partnership with the Mastercard Foundation is a testament to KIC’s tangible achievements over the past six years, and a nod to the transformation we are bringing to Ghana’s agriculture sector. As an organization, we are driven by the determination to be the power behind the innovations that will shape Ghana’s agriculture sector. We want to back ideas that transform communities and we want to impact the lives of all the individuals associated with our programs. We are proud to have the Mastercard Foundation supporting our vision and helping us make a difference across the country.”

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KIC has additionally driven striking ideas in Ghana’s agricultural area and upheld youthful business visionaries driving imaginative plans of action inside the area. An excess of 100,000 ranchers have been affected by Agri-Tech and agribusinesses upheld by the KIC.

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The Center has presently developed into an Independent non-profit association, ready to collaborate with different associations and establishments to help its work.

Board Chairman of KIC, Senior VP, and Head of the Ghana Business Unit at Kosmos Energy, Joe Mensah commented: “When Kosmos Energy launched the KIC back in 2016, we knew it had the potential to make a real difference by bringing fresh talent, thinking, and energy to Ghana’s agriculture sector. Our achievements over the last several years speak for themselves: 600 young leaders trained in business and entrepreneurship; 42 promising small businesses discovered or supported; 360 jobs created, and nearly 100,000 farmers supported by our start-ups and small businesses. The KIC generates buzz in the agriculture sector, making it a more attractive career path for young people with ambition and drive.”

The cross-country extension of the KIC’s demonstrated and fruitful model will give youngsters nearest to the issues the amazing chance to make arrangements that open developmental boundaries in farming.

Ghana Country Head at the Mastercard Foundation, Rosy Fynn, commented “This multi-year partnership with the KIC reflects our optimism about Ghana’s future and is aligned to our country’s strategy of investing in the agriculture and agriculture-adjacent sectors to unlock work opportunities for young Ghanaian women and men and to push for system-level changes that position Ghana as a continental demonstration of agriculture innovations that are suited to the African context. We are pleased to collaborate with the KIC, an experienced partner, to train and support the next generation of young entrepreneurs in the country”.

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The KIC’s projects which will be scaled through the Initiative for Youth in Agricultural Transformation include:

· AgriTech Challenge Classic – a 7-month yearly preparation program pointed toward building the pioneering attitude of understudies and youthful alumni. Over the course of the following four years, the extended rendition of the AgriTech Challenge is supposed to prepare around 4,700 youngsters across Ghana through associations with local scholarly accomplices, like colleges and specialized schools.

· AgriTech Challenge Pro – a 5-month expedited program pointed toward preparing early phase groups or new AgriTech companies with the right apparatuses and support to make their business initiatives ready for market and to scale up. The program was created to prepare groups progressing from the AgriTech Challenge Classic and extends to others from the more extensive start-ups.

· Incubation – the KIC Incubation is a long-term business incubation program pointed at helping organizations develop, scale, and access financial aid. This project includes more engaged business preparations, specific mentorship, meet-and-greets, an actual work area, and admittance to specialized aptitude. Six organizations will be chosen every year to get somewhere in the range of US$10,000 and $50,000 in subsidization of funds, actual office space, and constant help from the KIC. All through the incubation, the KIC will put resources into capacity-building projects to provide business visionaries with specific mentorship
by utilizing neighborhood industry specialists.

· Business Booster – a 5-month program that encourages the development of existing Micro-, Small, and Medium-sized Enterprises (MSMEs) in agriculture and agribusinesses in Ghana that have shown potential and are prepared to scale. The Business Booster program upgrades construction and services and preparation by working with other business connections. The program will probably speed up the advancement of 900 MSMEs for more than four years.

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· Blue Skies School Farm of The Year Competition – the School Farm of the Year Competition works by empowering high schools to go up against one another by overseeing and supporting their own homesteads to win prizes and to be granted the title of School Farm of the Year. This opposition means to foster the interest of youngsters in farming through useful preparation and openness. The program will use school land as models to educate and show developments rising up out of the KIC, while supporting further training of instructors on the best way to apply these arrangements.

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