President Nana Addo Dankwa Akufo-Addo has expressed his view that Ghana’s unemployment rate is not acceptable.
The unemployment rate in Ghana is projected to rise to 5.00 percent by the close of 2023, as outlined by Trading Economics’ global macro models and experts’ forecasts.
Looking ahead, the Ghana Unemployment Rate is anticipated to follow a trajectory of approximately 4.70 percent in 2024 and 4.50 percent in 2025, as suggested by Trading Economics’ econometric models.
During an event to honor young male and female entrepreneurs involved in the Presidential Pitch initiative on August 18, 2023, President Akufo-Addo underscored the significance of entrepreneurship in driving economic growth and development. He emphasized the crucial role that technology, entrepreneurship, and business can play in effectively addressing the pressing issues confronting the nation’s economy and the concerning unemployment rate.
The President emphasized that governments worldwide acknowledge the potential of youth entrepreneurship as a viable solution to the current unemployment challenges.
He went on to highlight the success stories resulting from Seasons One, Two, and Three of the Presidential Pitch, where a total of 702 direct and numerous indirect jobs have been generated by the winners. Notably, many of these job opportunities have been established within rural communities.
One standout entrepreneur, Christian Boakye Yiadom, the tenth-place winner from Season Two, was particularly recognized for his achievement. He initiated his pizza venture while studying at the Kwame Nkrumah University of Science and Technology in Kumasi. With a prize of twenty-five thousand cedis (25,000), he expanded his business, eventually opening the first Pizzaman Chickenman branch on the KNUST campus on January 17, 2020 – a mere six months following the competition. Presently, Pizzaman Chickenman has gained widespread recognition and has become a favored culinary choice for many individuals.