Ghana has strong potentials for job creation – World Bank

Ghana possesses strong foundations for job creation and expanding economic opportunities for its youth, according to the World Bank. Michelle Keane, the Operations Manager for Ghana, Liberia, and Sierra Leone, noted the country's entrepreneurial spirit, vibrant SME sector, and growing digital ecosystem as key assets.

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Ghana possessed strong foundations for job creation and the expansion of economic opportunities for young people.

However, Keane also pointed to significant challenges. Limited access to finance, market opportunities, and practical skills continue to hinder the growth and competitiveness of Ghanaian SMEs. Many businesses struggle to achieve productivity and growth targets despite being established each year. The World Bank emphasizes the need for deliberate strategies and targeted measures to support entrepreneurs and small businesses, particularly in addressing rising unemployment.

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It was important to be frank about the gaps and challenges confronting many young people, explaining that although numerous SMEs were established each year, many faced significant difficulties in achieving productivity and growth targets.

To tackle these issues, the World Bank has approved a $300 million project. This initiative aims to eliminate the double-track system in senior high schools, a policy implemented to manage student enrollment. Crucially, the project will also focus on enhancing the quality of skills development, preparing students for higher education and the labor market. The World Bank is also supporting government efforts to improve education, strengthen human capital, expand digital connectivity, and foster a more enabling business environment, especially for young people and women.

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Job creation remained central to its work and required coordinated action across both the public and private sectors.