Deputy Finance Minister John Kumah has emphasised the government’s commitment to tackling youth unemployment in the country head-on.
Kumah said some flagship programmes such as the Ghana Enterprise Agency (GEA), the Youth Employment Agency (YEA), and the National Entrepreneurship and Innovation Programme (NEIP), all formed part of the government’s efforts to address the unemployment situation in the country.
Recent data from the 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics report shows that the unemployment rate for the first three quarters of 2023 was 14.7%, up from 13.6% the previous year.
Speaking at the media launch at the Wealth and Jobs Expo in Accra on Wednesday (21 February 2024), Kumah highlighted the government’s dedication to attracting investments and nurturing an environment conducive to job creation.
He underscored the crucial role of entrepreneurship in tackling the unemployment crisis, urging confidence in the potential of entrepreneurship to propel economic expansion and mitigate joblessness.
“The Ghana Statistical Service announced on Wednesday that about 1.5 million Ghanaian youth are unemployed. Last year, the E-Levy generated GHC1.19 billion as part of dealing with the job situation. The government has committed funds through YouStart from these E-Levy sources … to GEA and NEIP to address the unemployment situation in the country.”
“I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector,” he added.
Speaking on the sidelines of the event, the coordinator for the Wealth and Jobs Agency, Arnold Asafu-Adjaye, added that the event is “about making sure that we create opportunities for entrepreneurs to thrive.”