Sub-Saharan Africa is home to one of the highest rates of youth unemployment in the world, with Ghanaian youth being hit particularly hard.
Ghana’s youth unemployment rate sits at 7.16 per cent, with young women being disproportionately affected, according to the African Development Bank (AfDB).
About 36.7 per cent of women aged 15-24 are unemployed, compared to 29.3 per cent of men in the same age group.
The Covid-19 pandemic has only exacerbated the issue, with multidimensional poverty rising from 46 per cent in 2017 to 46.7 per cent in 2022.
Productivity in the service sector has stagnated, while industry and agriculture are growing at a slow pace.
To combat the rising rate of youth unemployment, Ghana must focus on enhancing competitiveness and easing infrastructure bottlenecks.
The nation must also prioritize agro-industrialization and the development of the private sector.
The AfDB is calling for the creation of a policy framework that promotes technological adoption and innovation.
This move could provide much-needed relief to Ghana’s youth and help to stimulate economic growth.
