Growth and development of young entrepreneurs critical for industrialisation – Alan Kyerematen

The Minister of Trade and Industry, Alan Kyerematen, has said it is important for young entrepreneurs in the country to have continued renewals of ideas and values to ensure sustainable industrialisation.

There has been an increasing number of young entrepreneurs who are open to trying endless business possibilities to advance the country’s economic development.

“We cannot underestimate the importance of continued renewal of ideas and values in the society for ensuring hope of new enterprises. There is no doubt that entrepreneur innovation can lead to the reallocation of resources from the traditional agricultural sector to the modern manufacturing sector. What is needed are quality jobs through local industrialisation,” he said.

He further indicated that government has set up a number of strategies to ensure youth are equipped enough to become entrepreneurial.

“Despite the good picture painted on the role of youth entrepreneurs in sustainable industrialisation, there are still a number of challenges that need to be addressed to spur growth and development in Ghana.

“It is against this backdrop that government has put in place strategic measures to ensure the teeming youth, who are 60 percent of the country’s population, are better educated and equipped for the job market to become a digitally-enabled entrepreneurial generation,” he added.

The minister said this in a keynote address read on his behalf by the Ashanti Regional Head of the Ministry of Trade and Industry, Osman Mahmuda, at the third edition of the Youth Entrepreneurship Summit (YES) organised by the Ghana Chamber of Young Entrepreneurs (GCYE) in collaboration with the Commonwealth Alliance of Young Entrepreneurs – Africa, GIZ, Development Bank Ghana, SNV Ghana, and YESS Fund at Fumesua near Kumasi.

The event was on the theme ‘Empowering Youth Enterprises for Sustainable Industrialisation’.

For his part, Programme Manager, Social Policy Session-Commonwealth Secretariat, London, Sushil Ram, noted that the commonwealth is focusing on strengthening youth employment and entrepreneurship policies; promoting employment and entrepreneurship in blue, green and creative economies; development of digital and soft skills; strengthening of apprenticeships schemes and Technical Vocational Education Training (TVET) systems; and promoting private-public partnerships to address youth employment.

“Youth employment and entrepreneurship issues cannot be tackled through fragmented and isolated interventions. They require sustained and concerted action with strong political will and sustained commitment by all stakeholders, including government, the private sector, civil society, development partners and young entrepreneurs themselves. It needs to be at the centre of all relevant national development frameworks, and therefore an integrated, coherent and coordinated response is needed.

“Many young entrepreneurs are already shaping the institutions and processes which combine to create the world. The world is a better place thanks to your efforts, and we all need the uplift and encouragement of being inspired by your initiatives,” Mr. Ram said.