The rate of unemployment in Ghana has been deemed intolerable by Nana Addo Dankwa Akufo-Addo.
According to the global macro models used by Trading Economics and the expectations of analysts, the rate of unemployment in Ghana is projected to reach 5.00 percent by the end of 2023.
According to the econometric models used by Trading Economics, over the long term, the unemployment rate in Ghana is expected to trend around 4.70 percent in 2024 and 4.50 percent in 2025. These projections are based on the country’s historical data.
Akufo-Addo describes Ghana’s unemployment rate as unacceptable
On Friday, August 18, 2023, while honoring some young men and women entrepreneurs in respect of the Presidential Pitch initiative, President Akufo-Addo said that “entrepreneurship is a vital component of economic growth and development and has been embraced globally as an important driver of economic transformation.” In other words, President Akufo-Addo believes that “entrepreneurship is a vital component of economic growth and development.”
Combining technological innovation, business innovation, and the intolerable rate of unemployment is, in my firm opinion, the most expedient method to address the difficulties that are currently facing our economy as well as the unacceptable rate of unemployment.
“Governments all over the world have recognized youth entrepreneurship as the appropriate tool to address the challenges of today’s high unemployment rates.”
He continued by saying, “That is why I am happy that, over the course of Seasons One, Two, and Three of the Presidential Pitch, 702 direct jobs and thousands of indirect jobs have been created by our winners, with the majority of these jobs being established in rural communities.”
“I would like to make a special note of Christian Boakye Yiadom, who was the tenth-place winner during Season Two of Pizzaman Chickenman. He is the Chief Executive Officer of Pizzaman Chickenman. On the grounds of the Kwame Nkrumah University of Science and Technology in Kumasi, he established the beginnings of his pizza delivery service.
He was given twenty-five thousand cedis, which is equivalent to twenty-five thousand dollars, and he used this money to expand his business. In the end, it resulted in the launch of the very first Pizzaman Chickenman branch on the KNUST campus on January 17, 2020, around six months after the competition. Today, Pizzaman Chickenman is a well-known name in the food industry and a crowd favorite.