Ghana Needs Holistic Approach to Address Unemployment – Prof Asante
Professor Felix A. Asante, Director, Institute of Statistical, Social and Economic Research (ISSER), University of Ghana has challenged private sector businesses to strive to improve efficiency and productivity.
“There is a positive correlation between productivity and job growth contrary to the notion that improving productivity will lead to job losses.
“Improved productivity leads to improved profit margins and working capital, and the opportunity for expansion, which can lead to more job creation,” Prof Asante said at a symposium organised as part of the on-going 69th Annual New Year School and Conference (ANYSC) in Accra on the theme:” Accelerated Industrial Development for Job Creation”.
He advocated companies to form partnerships, and consolidation among firms- to enable them to compete globally, stressing that, “When partnerships are encouraged and resources are harnessed, the new enterprise formed is empowered to compete globally and have access to a larger market and can create more jobs locally”.
Prof Asante, commenting on the topic: “Accelerated Industrial Development for Job Creation,” said to reduce youth unemployment, the government and other stakeholders must focus their attention on entrepreneurial and innovation education to enable trainees to go through practical lessons.
He called on the private sector to be more interested and involved in the courses taught at tertiary institutions by stating the skillsets of graduates they needed to develop to enhance their businesses.
Prof Asante identified energy, agriculture, and manufacturing as critical emerging sectors that needed more collaborative effort between government and the private sector to create more jobs.
“The active processing of agriculture products for export can transform the economy and create more jobs. Agro-based manufacturing should be promoted,” he observed.
Touching on the government’s support to enable businesses to thrive, the ISSER Director reiterated that the State needed to provide good policy, strong institutions and efficient public goods and services.
He said governments must also commit to develop and sustain the institutions that implement, oversee and regulate those policies.