Project Overview The Youth in Car Wash project will benefit…
The Youth Entrepreneurship project is designed to address youth unemployment on the one hand and to also support young entrepreneurs in groups of thirty from the Western area and 14 districts to grow their businesses and take them to the next level.
To understand the actual needs of these youths in business, a dialogue forum was organised in March 2019 with over 100 youth entrepreneurs in attendance. The Minister of Finance gave the keynote address.
The project will consist of two main component as follows:
- Formation of Youth Entrepreneur Cooperatives to embark on Importation and Trade of selected goods.
- Training of Youth Entrepreneurs in Business Basics, Marketing Basics, Basic Bookkeeping and Introduction Import and Export
From across the country, young entrepreneurs whose businesses are valued at the equivalent of USD 2,000 and above will be clustered into
groups of at most 30 members.
In the first phase, the project will support up to 1,000 group leaders from 1,000 groups of at most 30 members, to fly to Dubai, China, Nigeria or Guinea and buy the goods of their choice. With the help of the resident Sierra Leone Ambassador to the respective countries, the goods will be containerized and shipped to Sierra Leone where they will be imported duty free.
The goods will then be distributed among group members who will sign agreements stating when they will repay the value of the goods back to the group. When the goods are sold out, the proceeds will then be put together and arrangements will be made for another group to fly to another destination to import.
By 2024, young entrepreneurs are gainfully employed and thriving in
the business sector.
Objective 1: By 2024, young entrepreneurs are importing goods of
their choice with ease and are cooperating with one another for greater
Main Project Activities
- Facilitate the formation of importation cooperatives comprising
entrepreneurs with businesses valued at the equivalent of USD 2,000
- Train 1,000 young Cooperative Leaders in Business Basics,
Marketing Basics, Basic Bookkeeping and the Basics of Importation
- Facilitate trips to China, Guinea, Nigeria or Dubai by 1,000
cooperative leaders to import goods of the choice of the cooperative
- Monitor the resale of goods imported and recovery of funds used to
What Will Success Look Like?
- Cooperative leaders are confidently importing and trading in goods
from China, Dubai, Nigeria, Guinea and elsewhere.
- Project participants and keeping their books of account and are
marketing their products.
- Cooperative leaders are entering into and executing importation