Akufo-Addo 1D1F has created 19,000 direct jobs

Business news for Friday, November 27, 2020

Source: www.ghanaweb.com

2020-11-27

The ruling New Patriotic Party (PNP) has been touting its achievements for four years at a forum in Accra.

Addressing the public during the Nation Building Updates held at the Cedi Conference Center of the Department of Economics at the University of Ghana on Thursday, Vice President Dr Mahamudu Bawumia said that the creation of Employment is one of the successful exploits of the PNP government.

“We have created jobs, especially for young people,” he said, before revealing that the 1D1F flagship project has created nearly 19,000 direct jobs across the country.

“As a result of our industrialized transformation, the 76 operating companies of 1D1F have created close to 19,000 direct jobs and have helped it to restart its operations; Anglogold Ashanti, the Obuasi mines have employed more than 4000 people. We have revived companies like the Ghana Publishing Company and the Ghana Post, ”he said.

Weekly nation-building updates give spokespersons or government officials an opportunity to detail the accomplishments of the Nana Addo Dankwa Akufo-Addo administration since taking the reins of power in 2016.

Speaking at the event, the Vice President said: “Another major challenge we sought to address was the hopelessness and despair into which the lack of employment opportunities under the previous NDC government had plunged our youth. The human toll on the number of educated and healthy young people in this country from the economic mismanagement of the NDC government had grown to become a threat to national security. Nothing is more dehumanizing and frustrating for young people than being out of work. We are not running away from the challenge, we take the bull by the horn and in four years we have created more than two million jobs in the formal sector ”.

He said that in four years, the administration led by Akufo-Addo has stabilized the economy.

“Before the coronavirus pandemic, which has affected all the economies of the world, we have reduced inflation and inflation continues to fall. We have doubled economic growth in the first three years, we reduced the depreciation of the exchange rate. The depreciation of the exchange rate has remained relatively stable. Ghana has recorded the lowest rate of depreciation [of the cedi] in the last 28 years in 2020.

“Despite COVID and its implications and despite this being an election year, Ghana in 2020 has experienced the lowest depreciation since 1992,? he affirmed.