The Business Sector Advocacy Challenge (BUSAC) Fund is to invest 20 million dollars into the private sector, under its phase II project next year, Madam Judith H. Kwawukume, Deputy BUSAC Fund Manager has announced.
The Danish International Development Agency in collaboration with the Department for International Development and United States Agency for International Development provided funds for BUSAC to promote economic activities in the private sector, which had been identified as the engine of growth.
She said the Fund had disbursed 10.9 million dollars to business groups, associations and individuals under its phase I project, which would end this year.
Madam Kwawukume was speaking at a BUSAC Fund sensitization workshop organised for district chief executives, district coordinating directors, planning officers and police as well as private business representatives in the Upper West Region, to seek their valued inputs to maintain a steady course that would promote the economy.
She said many of the beneficiary associations had succeeded in their advocacy roles, resolving the problems and barriers facing their members, which had helped increased incomes and revenue of the district assemblies.
Madam Kwawukume said the funds were given to business associations on behalf of the three development partners in the form of grants, and also developed the capacity of the beneficiaries, using advocacy to create positive change in the enabling environment within the business sector.
She said business associations in the Volta and Greater Accra Regions had benefited immensely from the Fund, but expressed her dissatisfaction at the low patronage from their counterparts in the Upper West, Upper East and Northern Regions.
She therefore called on business entities in the northern regions to take advantage of the fund for the progress and growth of their businesses.
Mr. Kale Cezar, Deputy Upper West Regional Minister, urged the participants to provide best practices and suggestions to BUSAC for the private sector to grow.
He emphasised that the growing unemployment situation in the country was attributed to a weak private sector that otherwise should have employed some of the school leavers and skilled personnel in the system.
He pointed out that the over-reliance on formal sector for employment was a burden and cannot be sustainable.
Mr. Cezar urged district assemblies to identify alternative ways and means of enacting some relevant bye-laws and other pragmatic measures to encourage the growth to work with the private sector in their communities.
"One of the easiest things we can do is to create land banks and to set aside areas purposely for the establishment of industries," Mr. Cezar said.
The Deputy Regional Minister also advised district assemblies to involve and encourage civil society organisations as well as advocacy groups in their policies and programmes formulations and implementations to benefit the people.