President John Mahama has launched an ambitious initiative aimed at tackling youth unemployment in Ghana by fostering entrepreneurship and supporting the creation of 40,000 youth-owned businesses over the next four years.

The program, dubbed Adwumawura—an Akan word meaning “the job owner”—was introduced Sunday at a launch event in Kumasi. It forms a central component of Mahama’s economic agenda, which he described as a strategic commitment to “unlocking the extraordinary potential of the Ghanaian youth.”

“Our goal is to create at least 10,000 youth-owned businesses annually,” Mahama said, positioning the initiative as a flagship policy from his 2024 campaign. “This is more than a policy; it’s a declaration of faith in the next generation of Ghanaian entrepreneurs.”

The Adwumawura initiative will offer a multi-pronged support system for aspiring and existing entrepreneurs. Key offerings include business development training, access to funding, mentorship, equipment support, and market facilitation.

“Many young people have solid business ideas, but lack the capital and knowledge to execute them effectively,” Mahama noted. “This program will ensure they are equipped not just with funding, but with the skills and guidance to build sustainable enterprises.”

Entrepreneurs selected under the program will receive coaching from experienced business owners, while others will benefit from technical and logistical support, including access to machinery and digital tools. The initiative also promises year-round advisory services to assist businesses long after their establishment.

Mahama emphasized the program’s inclusivity, saying applicants who aren’t selected in the initial round will be considered in subsequent years. “No good idea will be left behind,” he said.

The program comes amid growing concern over youth unemployment in Ghana, where a rising number of university graduates are unable to secure formal employment. Mahama is betting that fostering innovation and self-employment can offset structural constraints in the labor market.

The Adwumawura launch marks one of the  president’s most comprehensive economic announcements ahead of Ghana’s 2024 general election, underscoring the central role youth empowerment plays in his campaign platform.

Source:TheDotNews