Fostering Inclusive Growth: African Development Bank and Invest in Africa unveil MicroGREEN Project to Empower Marginalized Groups
The project seeks to generate up to 500 green job opportunities while delivering essential business development services
ACCRA, Ghana, May 6, 2024/ — The African Development Bank (www.AfDB.org) and Invest in Africa have jointly launched the MicroGREEN project to provide livelihood opportunities for marginalized and vulnerable groups in Ghana and Senegal.
Titled “Strengthening Women, Youth and People with Disabilities’ Micro Entrepreneurship for Green Jobs in Natural Resources (MicroGREEN),” the project seeks to generate up to 500 green job opportunities while delivering essential business development services.
The African Development Bank, 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% young women, 10% persons with special needs, and 30% other youth in both countries.
Speaking at the launch event on Thursday, Eyerusalem Fasika, Ghana Country Manager for the Bank, emphasized 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,” she stressed.
Carol Anang, Country Manager for Invest in Africa (https://apo-opa.co/3yi0jjm), Ghana, 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 organizations and local entities to work together to spur inclusive growth,” Anang stressed, adding that the project will enhance skills for employability.
The project will utilize 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. Invest in Africa will spearhead the implementation, leveraging its expertise in market access and skills development to drive sustainable business growth and job creation.
Solomon Amponsah, representing Ghana’s Finance Ministry, expressed the government’s support for the successful implementation of the project. “Your commitment to inclusive growth and sustainable development is truly inspiring. I am confident that together, we will make a meaningful impact on the lives of thousands of marginalized individuals in Ghana and Senegal.”
The hybrid launch event rallied together government representatives from Ghana and Senegal, program leads from the African Development Bank and Invest in Africa, civil society organization representations, and other social sector partner agencies.
Presenting an overview of the project, Salimata Soumare, Bank Task Manager for MicroGREEN, said the project would also benefit intermediaries that provide support and financing to entrepreneurs and MSMEs, such as mentoring programs, training programs, project development support, and advisory services.
During the event, the Bank’s initiative to create 25 million jobs for the youth and equip 50 million to accomplish their goals by 2025, as well as its support for green initiatives through the African Natural Resources Management and Investment Centre, were highlighted
The Bank is currently working on a tool to track and monitor green jobs from the Bank’s projects portfolio, especially those relating to climate action, environment, circular economy, and biodiversity activities, the country manager said.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
About the African Development Bank Group:
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa’s development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org
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African Development Bank Group (AfDB)