Speaking at the media launch of the Wealth and Jobs Expo in Accra on Wednesday, February 21, 2024, Dr. Kumah emphasized the urgency of addressing the pressing issue of job scarcity.
Citing statistics from the 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report, Dr. Kumah highlighted a concerning trend. The unemployment rate for the first three quarters of 2023 rose to 14.7%, representing a 1.1% increase from the previous year. Notably, there exists a significant gender disparity, with the female unemployment rate consistently higher.
Acknowledging this challenge, Dr. Kumah underscored the government's efforts to attract investments and create a conducive environment for job creation. He emphasized the pivotal role of entrepreneurship in tackling unemployment, expressing confidence in its ability to drive economic expansion and mitigate joblessness.
Dr. Kumah announced government initiatives, including the allocation of funds from the E-levy generated revenue to organizations such as the Ghana Enterprise Agency (GEA) and the National Entrepreneurship and Innovation Programme (NEIP) to address unemployment. He also pledged support for private sector initiatives, including the Wealth & Jobs Expo, aimed at job creation and business development.
Arnold Asafu-Adjaye, the Coordinator for the Wealth & Jobs Agency, emphasized the importance of creating opportunities for entrepreneurs to thrive. Speaking on the sidelines of the event, Asafu-Adjaye highlighted the challenges entrepreneurs face and the support provided by the Wealth & Jobs Expo in turning ideas into reality.
The Wealth & Jobs Expo attracted notable figures from various sectors, including Registrar General Jemima Oware, CEO of Ghana Free Zones Authority Michael Oquaye Jnr, actor and entrepreneur John Dumelo, CEO of Sarps Logistics Maame Akua Poku Sarpong, and Spokesperson for the National Chief Imam, Sheikh Aremeyaw Shaibu. The event was chaired by astute businessman Dr. Ernest Ofori-Sarpong.
The Expo serves as a platform for fostering entrepreneurship, facilitating collaboration, and promoting job creation in Ghana.
With government support and private sector engagement, initiatives like the Wealth & Jobs Expo play a crucial role in driving economic growth and prosperity for all.