Deputy Minister of Finance, Dr. John Kumah, revealed that the government amassed a total of GH¢1.19 billion in revenue from the E-levy for the year 2023.
He made this revelation during the media launch of the Wealth and Jobs Expo Ghana.
This significant sum was strategically allocated to various initiatives aimed at addressing unemployment in the country.
Dr. John Kumah emphasised that, in light of recent statistics from the Ghana Statistical Service, which indicated that over a million Ghanaian youth were unemployed, it was imperative to allocate resources effectively.
Therefore, funds were channelled into key programs such as the YouStart Program, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme.
These initiatives are poised to combat unemployment by fostering entrepreneurship and providing support for job creation across different sectors of the economy.
“The Ghana Statistical Service announced on Wednesday that about 1.5 million Ghanaian youth are unemployed. Last year, the E-levy generated GH¢1.19 billion and as part of dealing with the job situation… unemployment situation, the government has committed funds through YouStart from these E-levy sources… to GEA and NEIP to address the unemployment situation in the country, and I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector,” he said.
Dr. John Kumah underscored the government’s endeavours to draw investments into the nation, while simultaneously stimulating job growth. He stressed the importance of fostering belief in entrepreneurship as a crucial measure to tackle the unemployment rate.
“In the medium term, the government aims to intensify efforts to attract domestic investments and FDIs [Foreign Direct Investments] in strategic centres, with an 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 there are 1.5 million [unemployed youth; every one of them should create jobs. No. Even if we get it, 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,” the Deputy Minister of Finance added.





















































