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Deputy Minister of Finance, Dr. John Kumah, has revealed that the government garnered GH¢1.19 billion in revenue from the E-levy in 2023. These funds were allocated to the YouStart Programme, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme to tackle unemployment.
Dr. Kumah made this known in response to recent data from the Ghana Statistical Service, which indicated that over a million Ghanaian youth were unemployed. He spoke during the media launch of the Wealth and Jobs Expo Ghana, stressing the government’s commitment to addressing the job crisis.
“The Ghana Statistical Service announced that about 1.5 million Ghanaian youth are unemployed. Last year, E-levy generated GH¢1.19 billion, and as part of dealing with the job situation, the government has committed funds through YouStart from this E-levy sources to GEA and NEIP to address the unemployment situation in the country,” he stated.
Dr. Kumah highlighted the government’s focus on attracting investments to create jobs, emphasizing the importance of entrepreneurship in reducing unemployment rates. He stated, “In the medium term, the government aims to intensify efforts to attract domestic investments and FDIs in strategic centres with emphasis on creating jobs anchored on the government’s growth strategy. The strategy is projected to contribute to the creation of approximately 500,000 jobs.”
“We are not saying 1.5 million [unemployed youth], every one of them should create jobs. No. Even if we get 10% of them, it’s 150,000 who will become entrepreneurs. If they do an average of let’s say 100 jobs… 150,000 x 100, you have almost solved the unemployment problem,” he added.
