$13m facility for Skill Dev. Fund

Denmark is supporting the Council for Technical & Vocational Education Training (COTVET) with $13 million as seed capital for the Skill Development Fund (SDF).

The amount meant for conducting research would also be used in policy coordination, as well as reform issues arising out of the operation of the Fund.

Lars Joker, Representative of Danish Embassy in Accra said: “The SDF can be seen as an important and strategic point of convergence for the shared vision of the two countries in promoting and creating sustainable job opportunities for the youth.”

These were made known in Accra at the inauguration of nine-member SDF Committee tasked to utilize the fund in an appropriate manner for skills and technology service providers as well as industry especially small and micro-scale industries to improve productivities and enhance employability of graduate from the beneficiary institutions.

It is a flagship concept leading the way towards a culture of nourishing new ideas, of generating and sharing knowledge and of fostering entrepreneurship in the youth.
Ms. Sherry Hanni Ayitey, Minister of Environment, Science and Technology said government is looking to ensure that technology is supporting the country’s transition from the informal to the formal economy.

“Thus the emphasis on small and micro scale industry is of importance and must be the back-bone of the Fund.”

She said the institution of the SDF is to be sustained through a joint effort from both government as well as industry through a framework in the public-private partnership mode.

“This is the platform where innovation and knowledge development are put together as a key driver for economic growth, helping to ensure competitiveness and jobs and to lead the country to become an attractive place to work, live and study.

“The institution of the SDF Committee is one of the crucial steps for implementing the SDF.The financing channel is to provide efficient and knowledge instruments for strengthening the competency base labour force and technology driven society,” Ms. Ayitey.

She urged for a transparent and efficient procedure for the assessing of the fund, adding, “the swift maturation of the selected proposals into fully operational and functional programmes by the SDF Committee will be of essence over the coming months. The SDF should strive for timely delivery, simplicity of procedures, and of a results oriented outlook.”

She urged stakeholders including government, private sector, development partners and skills and technology service providers to come and support the sustainability of the SDF thereby ensuring the availability of the Funds at all times.

Mr. Patrick Agboma, Country Programme Officer, African Development Bank said all stakeholders need to ensure a sustainable financing of the technical and vocational education and training system in the country in order to actualize the government vision of prosperity for all under the private sector development strategy as well as support the creation of 500,000 new jobs by 2015.