Introduction
The ROOTS Project’s Youth-Based Matching Grant initiative has reached a significant milestone as it enters its final phase, focusing on comprehensive training and mentorship for its beneficiaries. Having successfully provided essential provisions, this endeavor aims to empower budding entrepreneurs by offering comprehensive support and guidance. In this progress update, we will delve into the diverse categories of beneficiaries, their geographical distribution, gender representation, grant disbursement details, and the overall program’s progress.
Categories and Distribution of Beneficiaries:
The ROOTS Youth-Based Matching Grant has made substantial headway in reaching a diverse range of business categories, catering to various sectors of the economy. Here is the breakdown of the beneficiaries:
Agricultural Transport Services: This category has supported twelve young entrepreneurs, emphasizing the vital role of efficient transportation within the agricultural industry.
Agro-Dealer Shops: Five beneficiaries have been equipped to establish and manage agro-dealer shops, promoting access to agricultural inputs and supplies.
Agro-food Processing: Fourteen individuals have been chosen to receive support in agro-food processing, fostering value addition and bolstering local food processing industries.
Mechanized Agriculture Services: Eight young entrepreneurs will undergo training and receive resources to provide mechanized agriculture services, thus enhancing productivity in farming practices.
ICT: One beneficiary has been selected to develop their skills and enterprise within the Information and Communication Technology field, aligning with the demands of the digital age.
Geographical and Gender Distribution
The ROOTS Youth-Based Matching Grant has diligently worked towards ensuring equitable geographic and gender representation among the beneficiaries. Geographically, the distribution is as follows:
West Coast Region: Five individuals have been chosen from this region, fostering entrepreneurial opportunities in the western part of the country.
North Bank: Twelve beneficiaries hail from this region, shedding light on the significance of agricultural activities in this area.
LRR: Seven young entrepreneurs have been selected from the Lower River Region, contributing to economic growth and development in this region.
CRR: Eleven individuals from the Central River Region have received support, highlighting the commitment to empower entrepreneurs across various regions.
URR: Four beneficiaries from the Upper River Region have been granted the opportunity to foster entrepreneurship within their communities.
Regarding gender representation, the project aims to bridge the entrepreneurial gender gap. The distribution among beneficiaries is as follows:
Male: Twenty-two young men have been selected, providing them with resources and guidance to establish and expand their businesses.
Female: Fifteen young women have been empowered to pursue their entrepreneurial aspirations, promoting gender equality within the business landscape.
Groups: Two groups have received support, recognizing the potential and collective strength that group enterprises can bring.
Grant Disbursement and Support
The ROOTS Youth-Based Matching Grant has set a maximum funding limit of D450,000 per business plan, although the actual disbursement is contingent on the budget outlined in the approved plan. Notably, six beneficiaries have received support worth a minimum of D430,000, while others have received varying amounts based on their unique business plans. It is important to mention that the grant is provided in the form of materials rather than cash, with the exception of operational costs.
Conclusion
The ROOTS Youth-Based Matching Grant project continues to make significant strides in empowering young entrepreneurs. Through comprehensive training, mentorship, and essential resources, the beneficiaries are equipped to establish sustainable businesses and contribute to the economic growth of their respective communities. The project’s commitment to geographically and gender-diverse representation, along with its emphasis on various business categories, reflects a holistic approach to fostering entrepreneurship. The ROOTS Project remains steadfast in its dedication to youth empowerment and extends its best wishes to all the aspiring entrepreneurs.