The Challenges for Youth Entrepreneurship in Ghana
The Center for International Private Enterprise (CIPE) has recently released the first place winner of the 2009 CIPE International Essay Competition in the category of entrepreneurship and employment. The article by Saeed Mahmoud Jajah examines “The Current State of Youth Entrepreneurship in Ghana.”
After Ghana attained political independence in 1957, the first Prime Minister and President Dr. Kwame Nkrumah introduced an economic system he called “scientific socialism,” which proposed that the state be at the center of economic planning and activities. His policies have arguably led Ghana into long-term economic decline. For example, the impact on the culture has been detrimental: many young people in Ghana believe that it is the responsibility of the state to provide for their economic needs, and expect the government to employ them.
In terms of education, entrepreneurship and leadership education is lacking. Most students are not familiar with modern business, management, or leadership principles. Not surprisingly, very few young people in Ghana can be classified as entrepreneurs.
Read the full article here for an examination of business culture in Ghana, as well as ways in which the government and the private sector can to work together to foster a new culture of entrepreneurship among the Ghanaian youth and to thereby spur economic growth in the country.