Deputy Minister of Finance, Dr. John Kumah, has revealed that the government amassed a total of GH¢1.19 billion in revenue from the E-levy in the year 2023.

This substantial sum has been strategically allocated to various initiatives aimed at addressing unemployment in the country, including the YouStart Programme by the the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme.

Dr. Kumah stressed on the government's steadfast commitment to utilizing these funds to generate employment opportunities for the youth.

• Read also: Government committed to curbing unemployment – John Kumah

Speaking at the media launch of the Wealth and Jobs Expo Ghana on Wednesday, February 21, Dr. Kumah urged citizens to place their trust in the government's efforts to improve the prevailing economic conditions.

“The Ghana Statistical Service on Wednesday announced that about 1.5 million Ghanaian youth are unemployed. Last year, E-levy generated GH¢1.19 billion and as part of dealing with the job situation… unemployment situation, government has committed funds through YouStart from this E-levy sources…to GEA and NEIP to address the unemployment situation in the country, and I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector,” he said.

The 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report has raised unemployment concerns.

• Read also: Average unemployment rate for first three quarters of 2023 increased to 14.7% – GSS Report

According to the report, during the first three quarters of 2023, the unemployment rate rose to 14.7%, marking a 1.1% increase from the previous year's figure of 13.6%.

Of particular interest was the persistent gender gap, with female unemployment consistently exceeding that of males.

Dr. John Kumah acknowledged this concerning trend, highlighting the significant uptick in female unemployment between 2022 and 2023. However, he reiterated the government's unwavering commitment to attracting investments and fostering an environment conducive to job creation.

Emphasising the pivotal role of entrepreneurship in addressing the unemployment crisis, Dr. Kumah expressed confidence in the potential of entrepreneurship to drive economic growth and alleviate joblessness.