The subject; “Leveraging Ghana’s younger and agile demography for financial growth. framework for long-range insurance policies focused at youth employment and upward mobility”
Mr Chairman, fellow MOBAs, distinguished listeners and viewers, I’m honoured by this chance given me by my 12 months group to talk on the subject Leveraging Ghana’s Younger and Agile Demography for Financial Improvement. Framework for Lengthy Vary Insurance policies Focused at Youth Employment and Upward Mobility.
My earliest reminiscences of my alma mater, Mfantsipim, some 23 years in the past, was my deep admiration of the truth that this nice college resonated custom. I used to be deeply fascinated by the concord of the previous structure of our tutorial infrastructure, the day by day expertise of going up and down the Kwabotwe hill from our dormitories to be taught within the tutorial blocks, the neighborhood of scholars, academics, market folks and the extreme reminder of Dwen Hwe Kan which we sang willingly and typically unwillingly. You couldn’t run away from our choir grasp MC Lite.
This custom and the neighborhood created was envisioned in 1876 and has educated a large number of Ghanaians and non-Ghanaians for 144 years.
Era after era, MOBAs have impacted the nationwide and international society as The College, tactically ready its college students for the longer term. All of us look as much as our seniors and applaud their accomplishments and the setting of upper heights for generations to observe. We additionally look again and are proud to look at the relentless efforts of our juniors to enhance and contribute their quota to maintain the identify of our expensive college on the upper path. Ayekoo to us all.
Mr Chairman, I’ll begin addressing the subject by asserting unequivocally that the socioeconomic sustainability of any nation rests with the viability of its youth.
The inclusion of the youth in our political, financial, cultural and technological growth is vital to our growth as they create on board innovation, creativity, concepts, imaginative and prescient and various power. That’s the reason, any nation which seeks upward mobility and elevated financial growth pays nearer consideration to their youth and makes stronger efforts backed by strategic and pragmatic insurance policies to draw and develop the youth.
Who’s the youth?
Ghana’s 2010 Youth Coverage profiles ‘youth’ because the interval between the ages of 15-35.
This age vary accounts for roughly 33.5% of our nation’s inhabitants. A big proportion of sturdy, inventive and progressive younger women and men on whose again the nation can develop in an accelerated method. Africa is essentially the most youthful continent on the earth. The youthful inhabitants is predicted to achieve 830m by 2050.
These numbers may deliver pleasure due to the socio-economic potentialities they signify. Nonetheless, statistics shared by the African Improvement Financial institution signifies solely 3M formal jobs are created yearly however the job demand is estimated at 10-12m each year.
Which means with out
the power to introduce viable measures to curb unemployment, in 2030 we’ll probably have 100m-120m unemployed youth.
Now let’s check out Ghana. All governments, previous and current have shared issues concerning the unemployment scenario within the nation. It’s fairly alarming to search out out that though Ghana has a inhabitants the place the youth represents 33.5%, there’s a large youth unemployment price of approx. 13.69%. This determine is steadily rising, and a cautious evaluate could even reveal increased numbers.
Regardless of the initiatives and establishments which were constructed just like the Nationwide Entrepreneurship and Innovation Program and the Nationwide Youth Employment Company to assist curb the unemployment drawback, unemployment will get louder day by day leading to a discouraged, disillusioned and demotivated youth.
Generally the roles made out there by these establishments are usually not sustainable and when sustainable, they’re reserved for a choose few.
Unemployment not solely robs our youth of a profession, but in addition deprives them of their dignity to earn an trustworthy dwelling.
Mr Chairman, it’s clear that insurance policies and initiatives exist for upwards mobility of our youth, however their impact has been weak. Therefore, the billion-cedi query “how can the nation’s coverage framework be revised to yield the impact of a affluent and productive youth?”
For me, harmonising the efforts of trade, academia and coverage to arrange our youth to thrive and win within the 4th Industrial Revolution is the way in which to go.
What’s the 4th Industrial Revolution?
The world is quickly shifting from the third to the fourth industrial revolution and with it comes the automation of conventional manufacturing and industrial practices with using very sensible modern know-how, robotics, blockchain, augmented actuality, synthetic intelligence, web of issues and many others.
The fourth industrial revolution is remodeling each side of our lives, our work and the way we talk with one another whether or not we’re prepared or not. This can problem conventional work techniques and processes making them out of date thereby compounding the unemployment problem.
That is additional highlighted by a report from DELL Applied sciences which signifies that 85% of the roles that will likely be out there in 2030, haven’t been invented but. A transparent instance is with the emergence of blockchain, social media administration and many others as careers which didn’t exist ten years in the past. Which means the required expertise and competencies required to compete on a nationwide and international stage if not developed now, will depart our youth additional behind on the earth and we can not let this occur.
At this level, I’d prefer to share an inspiring story on how Israel used coverage to leverage the third industrial revolution.
In 1990, Israel was recognized to don’t have any main pure useful resource and had an financial system just like modern-day Ghana. Israel battled with excessive unemployment and a banking disaster. By the way, that sounds acquainted.
They’d a younger and agile inhabitants able to work in order that they modified the normal methods of working and created jobs within the know-how house. They reworked the fortunes of the nation and its youth and took benefit of the third industrial revolution. As we speak, Israel is known as the Begin Up Nation, boasting a GDP of $398bn, about six instances the GDP of Ghana.
How did they do it?
The Yozma Program was instituted by the federal government to assist start-ups with a $100M and tax-free incentives to draw buyers to develop the know-how house within the nation. Training was made extra accessible to all residents and the themes taught have been related with the upward mobility of the nation to make sure literacy in know-how, science and the monetary sectors. This led to a crave for increased schooling by the residents. Lastly, Israel’s perception in accountability and accountability was imbibed in each individual and it grew to become necessary for the youth to serve within the Israel Defence Forces. Israel has been so profitable in leveraging their younger individuals and has reworked her financial system considerably to the purpose that also they are known as the nation greasing the wheel of the fourth industrial revolution.
This outstanding story highlights the result of the purposeful assemble of trade, academia and coverage as a instrument to attaining upwards mobility in a worldwide neighborhood.
Digital proficiency is paramount to benefit from the 4th industrial revolution. Ghana should due to this fact prioritise digital proficiency in its coverage growth for the youth.
The next are really useful for consideration by the three key pillars of our success (i.e. Trade, Academia and Coverage)
Ghanaian industries needs to be welcoming of overseas mergers and investments. Our industries will develop quicker if we will accomplice our operations and objectives with superior international firms whose know-how switch and market entry may be priceless. This can create extra alternatives for our youth.
Digitisation of operations needs to be carried out to advertise effectivity, productiveness and scalability of companies. Isn’t it fascinating that from Seattle in america, Amazon has affected e-business globally? That’s the aim we needs to be setting for the youth to attain.
Trade ought to put money into putting the youth in choice making roles. The energies and concepts of the youth have to be tapped at an early age to make sure that they’re launched into key areas of trade operations to fight the custom the place the youth are usually assigned entry stage duties solely. Many younger individuals have change into trailblazers as a result of key individuals believed in them and offered them the platforms to excel. Mr Chairman, I’m an ideal instance of this phenomenon and I advocate that trade mustn’t hesitate however relatively be eager to make nice leaders of tomorrow from the youth of at present.
Ghanaian industries should goal and practice the youth to offer companies in numerous disciplines and industries remotely. A web page may be taken from India’s e-book on the decision centre companies that they supply to the world.
Academia should promote skill-based over theory-based studying with the hope that our youth will likely be buying a problem-solving mind-set to change into progressive to learn the nation. The World Financial Discussion board identifies cognitive flexibility, service orientation, emotional intelligence, creativity and important considering as the talents required to thrive within the current future. Sadly, plenty of younger individuals lack these expertise at present. These expertise are usually not solely required for a digital financial system but in addition for the society we stay in.
There may be additionally the necessity to eradicate geographical obstacles in studying to advertise fairness in schooling. Digital studying platforms have far reaching impacts that may be leveraged to make sure high quality content material is accessible throughout the nation particularly within the primary and public faculties. Partnership between academia, authorities and telecom industries might help obtain this efficiently.
Tutorial our bodies in Ghana should develop examine packages the place college students can even examine from overseas professors or educators who’re international specialists within the subject of examine. This doesn’t must be an costly initiative as distant studying may be instituted to offer Ghanaian youth with international data and put together them to implement the worldwide data domestically.
Coverage ought to:
Make technological expertise coaching necessary for all younger individuals that may allow them to grasp using the digital instruments out there to the world. Insurance policies to make sure entry to tablets and laptops for all college students within the public faculties needs to be on the fore of this. This pandemic has compelled 3-year olds to be taught with their academics over the web exhibiting us that that is attainable.
Prioritise investments in decentralising digital infrastructure resembling incubation hubs for entry throughout the nation. The Accra Digital Centre for instance has an enabling surroundings for tech start-ups and different technology-based organizations resembling Ghana Innovation Hub, Code Prepare, Ghana Tech Lab and the Ghana Passport workplace. Nonetheless, that is inadequate and needs to be expanded.
Develop a free zone framework for know-how companies like; enterprise and data course of automation, coding, software program design and administration, IT audit and many others. This can successfully current Ghana and its youth to the world. International entities will soar at this chance to speculate and create an ecosystem that advantages the youth and the financial system.
Native content material legal guidelines should additionally concentrate on youth inclusion, growth and empowerment. Particular job quotas, board and administration illustration and many others, have to be prolonged to the youth.
Coverage makers ought to take into account organising funded nationwide youth focused challenges the place the youth innovate and invent technological options to unravel particular nationwide issues. The handwashing improvements by the youth on the peak of the COVID-19 pandemic is an inspiring instance.
Mr. Chairman, as I deliver my deal with to a detailed, we will likely be upset within the outcomes our youth if we pair all the proper insurance policies with a youth who lack character and worth system.
The situations of misconduct amongst our youth is worrying and requires a nationwide motion to show issues round. It’s crucial to stop a state of affairs the place unsuitable is mostly accepted as proper and proper is seen as alien.
And not using a cautious, deliberate and purposeful motion to develop the ethical conscience of our youth, we’ll lag behind. We owe it to the youth to be good examples of the values they need to maintain and stay.
Mr. Chairman, James Picot, was appointed as the primary Headmaster of our nice college on the age of 18yrs. He led and charted the trail in ways in which have left his identify engraved within the sands of time. I imagine he benefitted from nice coaching and an enabling framework to succeed, such that, we too, can maintain our heads excessive as alumni of an ideal college. This units proper the query, what coaching and enabling framework are we giving our youth, in order that simply as James Picot, they too shall be engraved within the sands of time?
Allow us to not relaxation until now we have laboured sufficient to hold the youth alongside, outfitted with instruments to proceed the place we lay them down, for our predecessors’ Dwen Hwe Kan for us, is now our Dwen Hwe Kan for the youth.
Thanks. Medaase pii.
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