Germany grants €10m to support Ghana’s competitive informal economy

The German government has decided to contribute €10 million to Ghana’s Skills Development Fund (SDF), a fund providing a demand-driven response for the formal and informal sector to make the economy more competitive.

This will increase the financial base of the $70 million fund managed by the Council for Technical and Vocational Education and Training (COTVET).

“The German government through the GTZ is giving us €10 million grant to support the training of persons in the informal sector,” SDF manager Mr Kofi Ntow told ghanabusinessnews.com in an interview.

“We are at the feasibility stage and the GTZ wants the persons to train with vouchers,” Mr Ntow said.

The training is to enhance the knowledge of the trainees to make them more competitive on their job, he noted.

The five-year project which started in 2011 is funded through a $50 million from the World Bank, $10 million from the Danish government and the rest from the Ghana government.

By Ekow Quandzie