Finance Minister Dr Cassiel Ato Forson has warned that rising unemployment could pose a serious threat to Ghana’s national security, urging a comprehensive restructuring of the economy to create sustainable jobs and accelerate development.
He said Ghana must urgently move beyond its existing economic structure and expand productive sectors to generate employment for the growing population.
Dr Ato Forson argued that the country’s economic transformation must focus on industrialisation, infrastructure development and the expansion of opportunities for young people.
Speaking during an engagement with management, students and other stakeholders of the Kwame Nkrumah University of Science and Technology (KNUST), under the theme “Budget Engagement and the New Economy,” the Finance Minister stressed the need for a deliberate national strategy to address unemployment.
He warned that failure to provide sustainable employment opportunities could undermine national stability, particularly as the population continues to grow.
Nkrumah-era infrastructure no longer adequate
Dr Ato Forson said Ghana had not invested sufficiently in expanding major infrastructure and industrial projects established under the leadership of the country’s first President, Dr Kwame Nkrumah.
He explained that many of the facilities and development projects initiated during Dr Nkrumah’s administration were designed for a population of approximately six million.
Ghana’s population has since increased more than fivefold, placing enormous pressure on existing infrastructure and public services.
The Finance Minister observed that although successive governments had undertaken some infrastructure expansion, the country had failed to adequately scale up critical facilities to meet its growing development needs.
He said the situation had contributed to the challenges confronting the economy and highlighted the need for sustained investment in productive infrastructure.
Calls for industrialisation and job creation
The Finance Minister called for a major economic transformation agenda that prioritises industrial development, employment creation and the expansion of critical national infrastructure.
He stressed that Ghana must strengthen its productive capacity and create an economic environment capable of absorbing the growing workforce.
Dr Ato Forson said expanding productive sectors would help address unemployment while supporting long-term economic growth and national development.
Government Plans National AI Centre
The Finance Minister also disclosed plans by the government to establish a National Artificial Intelligence (AI) Centre to promote innovation and improve public service delivery.
According to him, the proposed centre would support the application of artificial intelligence in various sectors, particularly healthcare.
He explained that AI technology could improve medical laboratory diagnosis and strengthen laboratory-based health testing, potentially enhancing efficiency and service delivery within the health sector.
The engagement provided a platform for discussions on the government’s economic direction, budget priorities and development strategies, with particular emphasis on technology, innovation and the creation of a more productive economy.
Dr Ato Forson reiterated the importance of restructuring Ghana’s economy to meet the demands of a growing population and provide sustainable employment opportunities for future generations.
Source: Ghana/otecfmghana.com/Anthoniette Ama Nyame, KNUST
