Deloitte Ghana’s Daniel Kwadwo Owusu mentioned on the tenth Ghana CEO Summit in Accra that Ghana must pursue pressing financial reforms primarily based on diversification, digitization and abilities to alleviate rising youth unemployment.
Mr. Owusu, Nation Managing Companion of Deloitte Ghana, spoke on Thursday on the Summit held on the Kempinski Lodge Gold Coast Metropolis on a theme centered on accelerating financial transformation by way of management, know-how and industrialization.
He warned that Ghana’s slim financial base, closely depending on mining and a small variety of industries, can not take up the growing variety of graduates getting into the labor market annually. He cited analysis exhibiting that solely about 15% of graduates discover significant work inside six months to 2 years after graduating from faculty, and a few stay unemployed or underemployed for as much as six years.
To reverse this pattern, Mr. Owusu urged rapid diversification, arguing {that a} broader base throughout industries and providers is required to create actual and lasting jobs. He mentioned unemployment ought to be handled as a nationwide precedence and require joint private and non-private motion.
He pointed to the digital financial system as one of many largest untapped sources of employment, citing e-commerce, synthetic intelligence (AI), digital commerce and platform-based providers as areas which have the potential to create new types of work and enhance productiveness. He additionally known as for elevated funding in abilities, together with technical and vocational schooling and coaching (TVET), to align the workforce with business calls for.
On industrial coverage, Mr. Owusu known as for incentives and aid for producers, highlighting the nationwide coverage on built-in oil palm growth, which he mentioned would set up about 10,000 hectares of recent plantations, create about 250,000 jobs and allow a $500 million mortgage package deal. He additionally supported the Ghana Funding Promotion Authority (GIPA) Invoice as a step in direction of strengthening investor safety.
To commemorate the occasion’s tenth anniversary, the summit introduced collectively policymakers, enterprise leaders, and teachers for periods aimed toward turning years of dialogue into tangible reforms.
