Ghana’s Trade Minister charges private sector to do more to reduce high unemployment

September 13, 2019 3:48 PM

Trade and Industry Minister, Alan Kyerematen has called on the Ghanaian private sector to create more avenues to employ more persons to reduce the current unemployment situation in the country.

Alan John Kwadwo Kyerematen

Mr. Kyerematen said the government can only employ a fraction of the unemployed through some policy initiatives but the huge responsibility lies on the private sector.

He said the private sector players must, therefore, rise to the challenge to deal substantially with issues of unemployment in the country.

He made these remarks at the 43rd Annual General Meeting of the Ghana National Chamber of Commerce and Industry.

Statistics show that the unemployment rate in Ghana as of 2018 stood at 6.71% as compared to the 6.63% recorded in 2017.

About 300,000 people graduate from universities in Ghana every year. Only a few are able to secure well-paying jobs across the country.

The unemployment rate in recent times has worsened with current layoffs in the financial sector of the economy. But Mr Kyerematen said unemployment can only be reduced if the private sector makes a conscious effort to employ more persons.

“It is only the private sector that can deal substantially with this challenge, and the government’s role is to provide the framework that ensures the private sector can create opportunities for employment,” he said.