Deputy Minister of Finance, Dr. John Kumah, announced that the Ghanaian government collected a total of GH¢1.19 billion from the E-levy in 2023. This remarkable revenue is being channeled into key initiatives aimed at curbing the unemployment rates plaguing the nation, particularly among its youth. During the media launch of the Wealth and Jobs Expo Ghana on February 21, Dr. Kumah highlighted the government’s dedication to leveraging the E-levy funds to empower young Ghanaians. Initiatives like the YouStart Programme by the Ghana Enterprise Agency and the National Entrepreneurship and Innovation Programme are at the forefront of this endeavor, designed to spark employment and nurture entrepreneurship.
Dr. Kumah’s address comes at a critical time when the Ghana Statistical Service has reported an alarming 1.5 million Ghanaian youth as unemployed. By funneling E-levy revenues into programs such as YouStart and NEIP, the government aims to significantly dent this figure, encouraging the private sector’s involvement in job creation as well. “The commitment of E-levy funds to address the unemployment issue is a testament to our determination to improve economic conditions,” Dr. Kumah stated. He also stressed the importance of public trust in the government’s strategies to enhance the nation’s employment landscape.
The urgency of addressing unemployment is underscored by the 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report, which recorded a rise in the unemployment rate to 14.7%. This increase from the previous year’s 13.6% underscores the growing joblessness concern, with a notable gender disparity showing higher unemployment rates among women. Dr. Kumah acknowledged the troubling rise in female unemployment and reassured that the government is actively seeking investments and creating a conducive environment for job creation. With a focus on entrepreneurship as a key driver for economic growth and employment, the deputy minister expressed optimism about its potential to mitigate unemployment challenges.
The government’s proactive approach to utilizing E-levy proceeds for employment generation initiatives reflects a strategic effort to tackle one of Ghana’s most pressing issues. By investing in entrepreneurship and innovation programs, the aim is to not only address the current unemployment rates but also to lay a solid foundation for sustainable economic growth and job creation in the long term. The government’s commitment to this cause is a beacon of hope for many, particularly the youth, who stand to benefit significantly from these endeavors.
