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Business news for Wednesday, September 30, 2020
Source: Goldstreet Business
2020-09-30
Ignatius Baffour-Awuah, Minister of Employment and Industrial Relations
A new World Bank report entitled “Youth Employment Programs in Ghana: Options for Effective Policy Making and Implementation” identifies agribusiness, entrepreneurship, learning, construction, tourism and sports as key sectors that can deliver increased employment opportunities for young people in Ghana.
It also calls for more investment in career guidance and counseling, work-based learning, training and mentoring to equip young people with the skills needed for work.
The report suggests that, although these are not new areas, the government could maximize its impact by expanding these priority areas in existing youth employment interventions and improving outreach to youth.
“This report is another milestone in tackling the challenge of unemployment,” said Ignatius Baffour Awuah, Ghana’s Minister of Employment and Industrial Relations. “It presents specific options to guide the government in the short and medium term to improve the effective coordination of youth employment programs.”
Ghana faces 12 percent youth unemployment and more than 50 percent underemployment, both higher than overall unemployment rates in sub-Saharan African countries. Despite significant investments from both the government and the private sector, this challenge will intensify if job opportunities remain limited.
To address youth unemployment, the report highlights the importance of having disaggregated data on young people seeking employment by location, gender, skills and abilities to inform political and funding decisions and respond with appropriate and tailored employment programs.
“The youth employment challenge in Ghana is huge and requires a comprehensive, deliberate and consistent response,” said Pierre Frank Laporte, World Bank Country Director for Ghana, Liberia and Sierra Leone. “Given the options outlined in this report, future youth employment policy planning must not only address youth unemployment, but must also generate the human capital necessary to sustain Ghana’s economy.”
The authors set key priorities for promoting youth employment in Ghana, including the importance of aligning formal education programs and skills development initiatives in the context of a rapidly evolving labor market that requires new and different skill sets. , and to adapt to new technology.
The report further called for greater partnerships with the private sector, such as involving employers in the design of training curricula and the introduction of certifications for occupational standards in order to adapt to the future of work, as well as the integration of pre-employment support activities as part of the country’s current educational system to better prepare young people for the transition to work.
In addition, the report aims to promote social inclusion initiatives to improve access to credit and training in management for women entrepreneurs, as well as improve both the infrastructure and the equipment available for people with disabilities and ensure that no one is left behind. behind.
Furthermore, the report emphasizes the need for greater collaboration between different stakeholders to reduce duplication and fragmentation of youth employment programs.
This report is accompanied by an inventory of public employment programs in Ghana to inform policy makers and stakeholders on the current youth employment landscape.
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