Business News of Saturday, 16 March 2013
The Skills Development Fund (SDF) an initiative of Ghana in partnership with the World Bank and Danish International Development Agency (DANIDA) has approved the disbursement of GH¢10.3 million to support the acquisition of new and innovative skills and technology by 38 small, medium and large scale industries, training and research institutions.
The SDF is a competitive fund opened to all skills upgrading and innovative technology proposals from the formal and informal sectors of Ghana with funding opportunities ranging from GH¢3,800 to GH¢1.9 million.
The Fund is aimed at improving demand-driven skills development and increased adoption of new technologies in selected economic sectors of Ghana by funding training and technology development opportunities in agriculture, textiles, science and technology and service sectors.
It would also promote improved linkages between private sector employers and training and technology institutions through a competitive fund.
Established in 2011, SDF is managed by a Project Support Unit of the Council for Technical and Vocational Education and Training (COTVET) with $50 Million from the World Bank and $10 Million from DANIDA for 2011-2016.
In a press brief COTVET, announced that out of the GHC10.3 million so far approved in the first quarter of 2013, about GHC2 million will be channeled in support of skills upgrading.
The grant recipient in the informal sector includes the National Association of Garages, Cotton Farmers Division of the Ghana Agricultural Workers Union, Apam Canoe Cooperative Fishermen Society, Kwabre Pig Farmers Association and the Mushroom Growers and Exporters Association of Ghana.
The formal sector includes the Animal Research Institute of the Council for Scientific and Industrial Research, the KNUST Jewellery Design and Technology Centre, Precious Minerals Marketing Company, Ainoo-Ansah Farms, KAD Manufacturing Ltd, Regional Maritime University, Agricultural Commercial Services Ltd, Musician Association of Ghana, St. Joseph’s Technical Institute, Literacy Bridge Ghana, Nallem Clothing Ltd and Delta Security.
The next call for proposals will be launched in April.