21st August 2023 9:33:48 AM
2 mins readPresident Akufo-Addo has expressed deep concern over Ghana's unemployment rate, deeming it to be in an unacceptable state.
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The unemployment rate in Ghana is anticipated to reach 5.00 percent by the conclusion of 2023, as indicated by the global macro models and analysts' expectations reported by Trading Economics.
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Looking ahead, according to Trading Economics' econometric models, the Ghana Unemployment Rate is forecasted to follow a trend of approximately 4.70 percent in 2024 and 4.50 percent in 2025.
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President Akufo-Addo conveyed these sentiments during an event where he recognized and celebrated young male and female entrepreneurs in connection with the Presidential Pitch initiative, which took place on Friday, August 18, 2023.
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He said: “Entrepreneurship is a vital component of economic growth and development, and has been embraced globally as an important driver of economic transformation.
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“I believe firmly that the fastest way to deal with the challenges confronting our economy and the unacceptable rate of unemployment is the fusion of technology, entrepreneurship, and business.
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“Governments, the world over, recognise youth entrepreneurship as the appropriate tool to address the unemployment challenges of our times.”
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He added: “That is why I am happy that, under Seasons One, Two, and Three of the Presidential Pitch, 702 direct and thousands of indirect jobs have been created by our winners, with majority of these jobs being established in rural communities.
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“I want to single out the Chief Executive Officer of Pizzaman Chickenman, Christian Boakye Yiadom, the tenth-place winner from Season Two for special mention. He started his pizza business on the campus of the Kwame Nkrumah University of Science and Technology in Kumasi.
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“He received twenty-five thousand cedis (25,000), which he used to scale-up his business. It eventually led to the opening of the first Pizzaman Chickenman branch on KNUST campus on 17th January 2020, some six months after the competition. Today, Pizzaman Chickenman has become a household name and a favourite bite for many.”
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