Former Trade and Industry Minister Alan Kwadwo Kyerematen has cautioned that Ghana's growing youthful population could become an economic burden if not enough productive jobs are created. He made this statement at the British Council as part of a discussion on Ghana's economic transformation. According to Mr. Kyerematen, Ghana's young population presents a major opportunity for economic transformation, but only if the economy can absorb the growing number of young people entering the workforce.
Mr. Kyerematen emphasized that Ghana's young population is a potential dividend, but only if the economy creates enough formal productive jobs. He argued that the country's response must go beyond expanding access to education and focus equally on creating an economy capable of generating employment on a large scale. This, he believes, can be achieved through industrialization, entrepreneurship, and the development of commercially viable businesses.
The former Trade and Industry Minister noted that without sufficient formal employment opportunities, the growing working-age population could intensify competition for limited jobs. This could lead to some young people migrating abroad in search of better prospects. Mr. Kyerematen maintained that the country's ability to create productive opportunities for young people would be central to determining whether its youthful population translates into stronger economic growth.
Mr. Kyerematen's warning comes at a time when Ghana is seeking to boost its economic growth. The government has been implementing various initiatives aimed at creating jobs and stimulating economic growth. However, the country still faces significant challenges in creating enough employment opportunities for its growing youthful population.
According to Mr. Kyerematen, a sustained focus on industrialization, entrepreneurship, and the development of commercially viable businesses is critical to creating the jobs needed to absorb the country's growing workforce. He believes that this can help transform Ghana's demographic structure from a potential source of economic pressure into an asset for national development.
The British Council discussion on Ghana's economic transformation comes as the country prepares for its 2027 budget. The government has announced plans to target nine sectors to create jobs, and there are expectations that the budget will provide more details on the initiatives aimed at stimulating economic growth.
Mr. Kyerematen's comments have sparked a renewed debate on the need for Ghana to prioritize job creation and economic growth. The country's youthful population is seen as a potential source of economic growth, but it also presents a significant challenge if not enough employment opportunities are created. The government and other stakeholders will need to work together to address this challenge and ensure that Ghana's youthful population becomes an asset for national development.
Key points
- Former Trade and Industry Minister Alan Kwadwo Kyerematen warns that Ghana's growing youthful population could become an economic burden if not enough productive jobs are created.
