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Business News of Friday, 28 December 2012

Source: GNA

COTVET to roll-out EUR 10 Million Voucher System to support Vocational Training

The Council for Technical and Vocational Education Training (COTVET) is to roll out a 10 million Euro Voucher System to promote access by apprentices, master craft spersons and entrepreneurs from small and micro enterprises to further technical and vocational training in line with labour market and private industry demand.

The Government of Ghana has received a financing facility of EUR 10 million from the Government of the Federal Republic of Germany (GIZ and KfW) towards the funding of the Voucher System, a release from the COTVET Projects Support unit said.

The Voucher System aims at increasing access of poor segments of the population to strategically relevant professions through Technical and Vocational Education and Training (TVET) in training institutes that meet the defined quality standards of the Council for Technical and Vocational Education Training (COTVET).

Under the voucher system, targeted small and medium scale enterprises shall apply and receive vouchers, which will enable them have access to competency based training courses offered by public and private training institutes accredited by COTVET. The training vouchers shall be transmitted to beneficiaries through an SMS system, after selection by COTVET.

In the long term, however, the Voucher System should contribute towards a sustainable and inclusive economic growth based on a competitive private sector in Ghana.

The project agreement, which was signed in November 2012 would be implemented by the Project Support Unit of COTVET in partnership with trade associations in the formal and informal small and medium scale enterprises sector and selected training institutes in Ghana.

The lack of adequate and relevant skills has been identified as a major impediment to the growth and competitiveness of the sector.

The initial piloting phase of the project covers a 3-year period and shall take place in the Greater Accra, Volta and Northern regions of Ghana, targeting the following sectors; building and construction, automotive repairs, consumer electronics, garment/tailoring/dress making, beauty and cosmetics.

The project will administer and finance up to 30,000 training vouchers for managers and employees of small and medium scale enterprises (out of which at least 30% will be women) while providing institutional support (equipment and infrastructure) to training institutes that will be involved in administering training under the voucher system.

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