Professor Naana Jane Opoku-Agyemang, Minister of Education, has launched the maiden Skills Development Fair in Accra with a call on the beneficiary businesses of the Skills Development Fund (SDF) to ensure productivity improvement.

They must also strive for incomes and profits, thereby creating avenues for increased employment, which is one latent but important outcome of the Fund.

This she said has the potential of making our country economically and socially strong, a statement issued by the Public Relations Unit of the Ministry has said.

The SDF is an initiative from Government with financial support of up to $60 million from the World Bank and DANIDA.

The Fund, launched in 2011, is managed by the Project Support Unit of the Council for Technical and Vocational Education and Training (COTVET).

SDF is a competitive and challenge fund addressing the skills and technology needs of business enterprises operating in both the formal and the informal sectors of the economy.

The Fund gives grants to trade associations, small, medium and large-scale businesses to upgrade the skills of their employees and access technology from science, technology and research institutions both in Ghana and abroad.

Part of the grants has also gone to support training institutions to develop demand-driven innovative training contents required by industry for enhanced productivity and competitiveness.

The Fund has since 2012 approved about Ghc39 million worth of grants in support of innovative skills and technology development initiatives in the private sector.

As part of its strategies to share the outcomes of its support to the private sector and promote dialogue between research and technology developers and industry, SDF is organising the Skills and Technology Fair.

The Fair would share the outcomes of SDF’s support with stakeholders and the public.

This will inform the business community about the progress being made in finding innovative solutions to skills and technology related challenges of industry, as well as provide insights on funding opportunities available for skills and innovative technology development.

Mr Peter Darvas, a world bank representative and an education specialist said the bank is pleased with the impressive performance and outcomes of the SDF and commended Ghana for showing the world how to use an innovative and effective fund.