The president of the Institute for Security, Disaster and Emergency Studies, Ishmael Norman, says Ghana can significantly reduce youth unemployment if the government makes credit more accessible to businesses and introduces flexible repayment arrangements.
Speaking on PM Express on Joy News, Dr Norman argued that job creation cannot be left solely to government and that the private sector must be empowered to expand and absorb the growing number of young people seeking employment.
He said making affordable loans available to businesses and industrial leaders could help them grow their operations and create more jobs.
“One solution is for government to make loans really reasonable to businesses and captains of industry so they can expand,” he said.
Dr Norman suggested that such loans should come with long-term repayment plans and an initial grace period before businesses begin repayment.
He proposed that companies receiving loans could be granted an 18-month moratorium, allowing them time to invest and grow their enterprises before paying back the funds.
According to him, accessible financing would enable businesses to expand across different sectors of the economy and generate employment opportunities for young people.
Dr Norman stressed that it is unrealistic to expect government to employ the majority of the population.
“There is no country in the world where government is the major employer and is able to employ everybody,” he said.
He cited China as an example, noting that strong private enterprise has played a key role in the country’s economic transformation and wealth creation.
Dr Norman’s remarks come amid growing national concern about youth unemployment and the need for sustainable strategies to create jobs for Ghana’s expanding youth population.
He urged policymakers and industry leaders to work together to develop practical measures that strengthen the private sector’s role in driving job creation.
