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Business News of Tuesday, 13 July 2021

Source: www.ghanaweb.com

We must give the unemployed youth the skills to find jobs - Ken Ofori-Atta

Ken Ofori-Atta, Minister of Finance play videoKen Ofori-Atta, Minister of Finance

• Ken Ofori-Atta has stressed the need for the unemployed youth to be equipped with skills

• He said the government supported over 738,341 micro small and medium enterprises with jobs

• He said there is a need for deeper engagements with multilateral partners to invest in human capital


Ken Ofori-Atta, the Minister of Finance, has stated that there is a need for a multilateral approach to creating an enabling environment for the unemployed youth to be equipped with requisite skills in finding a job.

Mr Ofori-Atta said the development and growth of the country’s economy will depend on helping the youth to get the skills they need for better jobs and giving them a chance to fulfil their potential.

He made this known while speaking at the signing of a Memorandum of Understanding between the World Bank and the Government of Ghana to help fight the pandemic.

“Across government, our focus through this pandemic has remained on not leaving anyone behind. We must give the unemployed youth the skills to find a job, and we must not only lift young people out of poverty, but we must also transform their horizons, aspirations and hopes and eliminate this singing sense of despondency and poverty of ambition, through helping them get the skills they need for better jobs and giving them a chance to fulfil their potential,” he said.

The Minister noted that despite the coronavirus pandemic, government must continue working towards laying the foundations for an enabling welfare state that will help restore dignity to the lives of Ghanaians.

He, however, averred that “Undoubtedly, the government cannot do this alone. We need deeper engagements with our multilateral partners to facilitate the provision of the requisite financial and technical support to invest in human capital, build physical infrastructure, and comprehensively tackle development challenges that inhibit the SDG goals' attainment. At its very core, this will require the availability of bold, innovative financial support to support critical interventions in response to coronavirus.”

Statistics from the World Bank, the Unemployment Rate in Ghana is expected to hit 4.70 per cent by the end of 2021 with the current ratio at 4.53 per cent.

In the long-term, the country’s unemployment rate is projected to trend around 4.50 per cent in 2022 and 4.30 per cent in 2023, according to econometric models.