Akufo-Addo describes Ghana’s unemployment rate as unacceptable
President Nana Addo Dankwa Akufo-Addo has described Ghana’s unemployment rate as unacceptable.
The unemployment rate in Ghana is expected to reach 5.00 percent by the end of 2023, according to Trading Economics’ global macro models and analysts’ expectations.
In the long-term, the Ghana Unemployment Rate is projected to trend around 4.70 percent in 2024 and 4.50 percent in 2025, according to our econometric models, Trading Economics said.
President Akufo-Addo, while honoring some young men and women entrepreneurs in respect of the Presidential Pitch initiative, on Friday, 18th August 2023 said that “Entrepreneurship is a vital component of economic growth and development, and has been embraced globally as an important driver of economic transformation.
“I believe firmly that the fastest way to deal with the challenges confronting our economy and the unacceptable rate of unemployment is the fusion of technology, entrepreneurship, and business.
“Governments, the world over, recognise youth entrepreneurship as the appropriate tool to address the unemployment challenges of our times.”
He added “That is why I am happy that, under Seasons One, Two, and Three of the Presidential Pitch, 702 direct and thousands of indirect jobs have been created by our winners, with majority of these jobs being established in rural communities.
“I want to single out the Chief Executive Officer of Pizzaman Chickenman, Christian Boakye Yiadom, the tenth-place winner from Season Two for special mention. He started his pizza business on the campus of the Kwame Nkrumah University of Science and Technology in Kumasi.
“He received twenty-five thousand cedis (25,000), which he used to scale-up his business. It eventually led to the opening of the first Pizzaman Chickenman branch on KNUST campus on 17th January 2020, some six months after the competition. Today, Pizzaman Chickenman has become a household name and a favourite bite for many.”
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