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Dr. John Kumah, Deputy Minister of Finance, disclosed that the government collected GH¢1.19 billion from the E-levy in 2023. A portion of these proceeds was allocated to initiatives such as the YouStart Program, Ghana Enterprise Agency, and National Entrepreneurship and Innovation Programme, aimed at tackling unemployment challenges in the country.
These remarks were made in response to recent data from the Ghana Statistical Service, which revealed a youth unemployment rate surpassing one million, during the media launch of the Wealth and Jobs Expo Ghana.
Dr. Kumah highlighted that the Ghana Statistical Service announced on Wednesday, February 21, 2024, that approximately 1.5 million Ghanaian youths are unemployed.
He stated, “Last year, the E-levy generated GH¢1.19 billion, and as part of addressing the unemployment situation, the government has allocated funds through YouStart, GEA, and NEIP from these E-levy sources.” He further announced support for institutions like Wealth and Jobs Expo and private organizations willing to contribute to job creation in the private sector.
Emphasizing the government’s commitment to attracting investments and fostering job creation, Dr. Kumah stressed the importance of promoting entrepreneurship to combat unemployment.