GWYESCO launch: Youth unemployment threatens Ghana’s economic progress – SIF CEO

The Chief Executive Director of the Social Investment Fund (SIF), Nurudeen Abass, says youth unemployment and underemployment remain major obstacles to the country’s economic progress.

Mr. Abass made the remarks at the launch of the Ghana Women and Youth Employment and Social Cohesion (GWYESCO) programme at the La Palm Royal Beach Hotel in Accra on Wednesday.

He warned that the growing number of young people without jobs or relevant skills posed a significant challenge to the country’s development agenda.

“Youth unemployment and underemployment remain among the greatest threats to economic progress and social stability,” Mr. Abass said.

He added that many young people continue to face barriers to meaningful employment because they lack the skills demanded by the labour market.

“The number of young people who are not in education, employment, and training is on the rise due to the lack of market-relevant skills,” he stated.

Mr. Abass also highlighted challenges confronting women entrepreneurs, noting that many struggle to access finance, technology and markets needed to grow their businesses.

According to him, economic exclusion in vulnerable communities often contributes to frustration, migration pressures, vulnerability and social tensions, making targeted interventions necessary.

The concerns, he said, informed the design of the Ghana Women and Youth Employment and Social Cohesion programme, a US$71.25 million flagship initiative supported by the African Development Bank Group.

Running from 2026 to 2029, the programme seeks to create jobs, promote economic inclusion, and strengthen community resilience among vulnerable populations across the country.

Mr. Abass explained that GWYESCO would promote market-driven training to equip women and youth with industry-relevant skills while supporting transitions into sustainable employment through digital and creative skills development, formalisation initiatives and opportunities in STEM and technical trades.

The programme will also expand access to financial and non-financial services for women and youth-owned micro, small and medium-sized enterprises, including seed capital, business development services, and formal business registration support.

Particular attention will be given to vulnerable communities, especially in Northern Ghana, where the initiative aims to reduce conflict risks and strengthen peacebuilding efforts.