How Akufo-Addo plans to tackle youth unemployment
President Nana Addo Dankwa Akufo-Addo has outlined his government’s plans to tackle youth unemployment, which, according to him, has become a time bomb.
In his maiden State of the Nation Address, the President noted that those interventions would create significant job opportunities for Ghanaians across the country.
“We can all see the desperation of our young people who want to work but there are no jobs and some of them are being driven to unacceptable behaviours. To address this challenge the government is embarking on one of the most comprehensive programmes for industrial transformations ever to be introduced in our country,” he said.
Below are the various interventions President Akufo-Addo has outlined to tackle youth unemployment:
Restoration and maintenance of a stable macro-economy
Monitoring of fiscal measures which will lead to reduction in interest rates and reduction in the tax burden of enterprises
Provision of reliable, affordable power to enterprises and homes
Setting up of a stimulus package to support existing Ghanaian industries and improve their competitiveness
Implementation of initiatives through private, public partnerships to establish at least one industrial enterprise in each of the 216 districts in the one district, one factory policy
Development of strategic anchor initiatives as new pillars of growth for the Ghanaian economy including the establishment of petro-chemical industries, iron and steel industry, an integrated aluminium industry , expansion of domestic production of pharmaceuticals, the establishment of a vehicle assembling and automatic industry
The production of industrial salt, the establishment of garment and textile industry and enterprises and the establishment of a multipurpose industrial park in each of the 10 regions
Implementation of a comprehensive programme for SME development
The establishment of an industrial subcontracting exchange to link large scale companies with SMEs
Implementation of an aggressive programme for export development targeting primarily, regional and continental markets
Enhancement of domestic retail market infrastructure and the active promotion of the market and distribution of domestically produced goods
Establishment of a permanent consultative forum for public private sector dialogue