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SyND urges government to operationalise Renewable Energy Fund in 2027 Budget
•2 min read•1 source
The Strategic Youth Network for Development (SyND) has called on the Ghanaian government to officially activate the Renewable Energy Fund within the upcoming 2027 Budget Statement. Speaking at a press conference, the organization emphasized that the fund is crucial for empowering young entrepreneurs and small businesses to take an active role in Ghana's transitioning energy landscape. SyND argues that the current lack of dedicated financing hinders the ability of youth-led businesses to compete in the growing green economy.
SyND's Executive Coordinator, Chibeze Ezekiel, highlighted that the fund could bridge significant financing gaps currently facing youth-led initiatives. The organization is proposing a dedicated financing window that would provide pre-investment grants, partial credit guarantees, and essential working capital. These financial instruments are designed to help young business owners secure and execute renewable energy contracts, which are often out of reach due to stringent capital requirements and high interest rates.
Beyond broad energy projects, SyND is advocating for a specialized youth clean-cooking program. This initiative would support the manufacturing and distribution of improved cookstoves, directly contributing to Ghana's national goal of distributing 4.5 million units. By merging technical support with enterprise financing, the organization believes the government can significantly enhance the market share of youth-led businesses while addressing domestic energy needs.
The demand comes as Ghana seeks to accelerate its energy transition while addressing youth unemployment. SyND argues that by operationalizing the Renewable Energy Fund, the government will not only meet its environmental targets but also foster an inclusive economic environment where the youth are central to sustainable development. The group expects the 2027 Budget to reflect these recommendations to ensure a more resilient and youth-inclusive renewable energy sector.
