Business News of Wednesday, 19 July 2017
President Akufo-Addo has stated that the biggest challenge his government is seeking to address is job creation.
According to him, the government is adopting various measures including the National Entrepreneurship and Innovations Plan to tackle the high level of unemployment in the country.
Speaking at the press conference in Accra to account for his first 6 months in office, he said: “the greatest challenge we face is the creation of jobs.”
The National Entrepreneurship and Innovations Plan which was lunched last week with a seed amount of 10 million cedis is to help start-ups and entrepreneurs to establish themselves in business.
Outlining other plans to create jobs at the meeting, Nana Addo mentioned his government’s much-touted Planting for Food and Jobs program saying that agriculture is one of the major sectors his government targets to create jobs.
Nana Akufo-Addo said he also expects the reduction in economic indices like inflation to soon translate into economic gains for all Ghanaians including businesses.
He said the Bank of Ghana’s reduction in the Monetary Policy Rate, Treasury Bill rate and other economic indices has set the economy on the path of recovery.
The Monetary Policy Rate of the Bank of Ghana has been cut from 25.5 percent to 22.5 percent, while T-Bill rate has gone down from 22.8 percent to 11.9 percent, said to be the lowest in five years.
Inflation has also reduced from 15.4 percent to 12.1 percent.