Source: Myjoyonline.com
The Head of the Economics Department at the University of Ghana, Prof. William Boateng, has highlighted Ghana’s persistent struggle with unemployment, asserting that the nation has been employing a ‘firefighting’ approach rather than a comprehensive solution.
Prof. Boateng, reflecting on historical efforts, pointed out that since the implementation of structural programs in 1984 to revive the economy, Ghana has grappled with rising poverty and unemployment.
Speaking on JoyNews’ PM Express on Thursday, he noted a pattern of starting various initiatives, such as the Step Programme in the 2000s, the National Youth Employment Programme, which evolved into GYEDA, and more recently, the Nation Builders Corps (NABCO).
Despite these initiatives, the core issue of unemployment remains unresolved.
“We still have the problem which means we haven’t tackled the problem holistically. We are talking about the private sector as the engine of growth,” he said.
Emphasising the crucial role of the private sector in addressing unemployment, he noted that it is meant to be the engine of growth and the primary source of employment. However, he expressed concerns about the challenging business environment in Ghana.
“The private sector is supposed to be the main source of employment and countries where they’ve been able to solve unemployment issues were through the Private sector. But currently, Ghana’s business environment is not doing well. There are high interest rates, high taxes, and challenges with electricity and water, so the private sector is not doing very well.”
He called for a more comprehensive and strategic approach to tackle the root causes of unemployment, emphasising the need to create an enabling environment for the private sector to thrive.
The economist urged policymakers to address issues such as high-interest rates, taxes, and infrastructure challenges to facilitate a conducive business climate.
Source: www.myjoyonline.com
