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REDUCING UNEMPLOYMENT
 AMONG THE YOUTH OF GHANA
THROUGH ENTREPRENEURSHIP




      Youth Innovate, Ghana
Effects of youth Unemployment in
              Ghana
   Youth unemployment rate is 25% in 2012 1
   Poverty - Four out of every ten Ghanaians live
    in poverty
   Brain drain - 47% 2 of college graduates from
    Ghana are seeking greener pastures abroad
   Social vices - Increase in social vices such as
    drug abuse, prostitution, armed
    robbery, teenage pregnancy

     1 http://www.infoghana.info/news/overcoming-youth-unemployment-ghana-part-26

     2 http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=93176
Demographics of unemployed
          youth in Ghana
   Age group for youth is 15 -24 years
   Unemployment rate is highest in urban areas
   60% of the unemployed youth are females
   1 out of every 2 unemployed youth wants to
    start a business on his/her own
Segmentation of the unemployed
youth in Ghana by Gender
Graph shows higher unemployment in urban areas and also females –
Housing and population data in year 2000, Ghana

30
25
20
15                                                                  Sex (15-24)
10                                                                  Male(15-24)
                                                                    Females(15-24)
 5
 0
         Urban              Rural             Average
                                               Ghana

                 Reference - http://www.cepa.org.gh/researchpapers/Youth73.pdf
Major Causes of youth
         Unemployment in Ghana
   Inadequate planning for integrating the Junior and
    Senior High Schools into the trades/vocations and
    job placements
   Education and training have no link to the needs
    of the important sectors of the economy
   Collapse of Ghana’s industrial base
   Shrinking of the public sector employment
    opportunities coupled with a relatively slow growth
    of the private sector
   Lack of a coherent national employment policy
    and comprehensive strategy to deal with the
    employment problem
Proposed Solution
   An entrepreneurship program where the youth
    receive training to form teams to start their
    own businesses to create wealth and
    employment.
   The program will ensure the teams identify
    problems or opportunities and them bring out
    innovative solutions to them.
   Viable business solutions will be given support
    in terms of logistics and seed funding to start
    for a minority equity which will be reinvested to
    support future businesses.
Impact plan
   Reach out to 50,000 young people by
    partnering with vocational and technical
    institutions to give training to these young
    people
   Enlist highly motivated young people into the
    program
   Create a fund that will enable these skilled you
    to start their own businesses. Proceeds from
    the fund will be used to enroll other youth
Desired outcome
   Create successful business across the country
    each year
   Empower young people in Ghana to create
    wealth and jobs
   The success of successful businesses will
    create a ripple effect which will inspire other
    young people across the nation to also start
    businesses that addresses problems while
    creating wealth and jobs

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[Challenge:Future] Reducing unemployment among Ghana's youth, through entrepreneurship

  • 1. REDUCING UNEMPLOYMENT AMONG THE YOUTH OF GHANA THROUGH ENTREPRENEURSHIP Youth Innovate, Ghana
  • 2. Effects of youth Unemployment in Ghana  Youth unemployment rate is 25% in 2012 1  Poverty - Four out of every ten Ghanaians live in poverty  Brain drain - 47% 2 of college graduates from Ghana are seeking greener pastures abroad  Social vices - Increase in social vices such as drug abuse, prostitution, armed robbery, teenage pregnancy 1 http://www.infoghana.info/news/overcoming-youth-unemployment-ghana-part-26 2 http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=93176
  • 3. Demographics of unemployed youth in Ghana  Age group for youth is 15 -24 years  Unemployment rate is highest in urban areas  60% of the unemployed youth are females  1 out of every 2 unemployed youth wants to start a business on his/her own
  • 4. Segmentation of the unemployed youth in Ghana by Gender Graph shows higher unemployment in urban areas and also females – Housing and population data in year 2000, Ghana 30 25 20 15 Sex (15-24) 10 Male(15-24) Females(15-24) 5 0 Urban Rural Average Ghana Reference - http://www.cepa.org.gh/researchpapers/Youth73.pdf
  • 5. Major Causes of youth Unemployment in Ghana  Inadequate planning for integrating the Junior and Senior High Schools into the trades/vocations and job placements  Education and training have no link to the needs of the important sectors of the economy  Collapse of Ghana’s industrial base  Shrinking of the public sector employment opportunities coupled with a relatively slow growth of the private sector  Lack of a coherent national employment policy and comprehensive strategy to deal with the employment problem
  • 6. Proposed Solution  An entrepreneurship program where the youth receive training to form teams to start their own businesses to create wealth and employment.  The program will ensure the teams identify problems or opportunities and them bring out innovative solutions to them.  Viable business solutions will be given support in terms of logistics and seed funding to start for a minority equity which will be reinvested to support future businesses.
  • 7. Impact plan  Reach out to 50,000 young people by partnering with vocational and technical institutions to give training to these young people  Enlist highly motivated young people into the program  Create a fund that will enable these skilled you to start their own businesses. Proceeds from the fund will be used to enroll other youth
  • 8. Desired outcome  Create successful business across the country each year  Empower young people in Ghana to create wealth and jobs  The success of successful businesses will create a ripple effect which will inspire other young people across the nation to also start businesses that addresses problems while creating wealth and jobs