The assurance by the Vice-President, Dr Mahamudu Bawumia, that employment opportunities still exist in the public sector for graduates and the call by Professor Joseph Atsu Ayee, of the University of Ghana, Legon for the creation of a ministry in-charge of youth development are some of the leading stories in the Ghanaian press on Monday.The Graphic reports that the Vice-President, Dr Mahamudu Bawumia has said that employment opportunities still exist in the public sector for graduates.
However, he advised graduates to venture into entrepreneurship, where they can develop their own businesses to enable them to build a sound future for themselves and also contribute to the development of the country.
Dr Bawumia gave the advice in a speech read on his behalf by a Deputy Minister of Education, Rev. John Ntim Fordjour, at the 13th congregation of the University of Mines And Technology (UMaT) in Tarkwa last Saturday.
While saying the public sector would not shut its doors to graduates, the Vice-President said it was important for them to know that there was much to gain from setting up their own businesses.
“Not only are you expected to be working in the public sector; you are equally expected to be drivers of the private sector. Some of you should start planning to begin your own businesses with knowledge gained from the training you have received, and possibly employ others,” he said.
The role of the new graduates in the private sector, he said, would be instrumental to the growth of the country, and reminded them that as fresh graduates, they should know that grades and academic scores might not matter after school.
The newspaper says that a professor of Political Science at the University of Ghana, Legon, Professor Joseph Atsu Ayee, has called for the creation of a ministry in-charge of youth development to help address issues affecting the youth.
Such a Ministry of Youth, he said, should serve as a parent body to the National Youth Authority (NPA) and all related youth agencies, to address the concerns of the youth.
He said the whole idea of linking sports with youth development would undermine policy direction for the youth because the Ministry of Youth and Sport under the Fourth Republic had shifted attention to the development of sports while the issues of the youth had been relegated to the background.
Sharing his perspective on the issue of youth unemployment, Prof Ayee said the time had come for the country to address the issue in a more holistic and comprehensive manner to pave way for better opportunities for the youth to explore and put the knowledge they had acquired into good use.
He said to be able to deal with youth unemployment, the nation must go back to the 2010 National Youth Policy to help address the long and medium-term strategies of the youth.
“In that document, a youth has been defined as between 15 – 35 years. So it means the youth constitute about 36 – 40 per cent of Ghana’s population. It is quite a huge figure which demands a consensus from all stakeholders, including the political parties to plan for the way forward as a country,” he stated.
The Graphic also reports that effective January 1, 2022, small-scale miners (SSM) will no more be required to pay three per cent withholding tax on gold at the point of export through the Precious Minerals Marketing Company (PMMC).
This follows the government’s fiscal policy to scrap the three per cent withholding tax on processed gold and replace it with 1.5 per cent withholding tax on unprocessed gold.
The Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, who made this known, stated, “For the avoidance of doubt, there will be no tax collected at the point of export through the PMMC from small-scale miners,” he stressed.
Mr Jinapor, who said this in a virtual address at the 7th Ghana Mining Industry Awards (GMIA) held in Accra last Friday, said the decision was arrived at after thorough stakeholders engagement on the merit of the three per cent withholding tax policy.
The Ghana Revenue Authority (GRA) implemented the three per cent withholding tax policy on the export of gold from the country in 2019.
However, the Ghana National Association of Small-Scale Miners (GNASSM) and some think tanks, especially the African Centre for Energy Policy (ACEP), called for the three per cent to be scrapped because it had led to the smuggling of gold out of the country.
The Ghanaian Times says that it is about time that African countries create partnerships and synergies for value addition to its resources, Herbert Krapa, Deputy Minister of Trade and Industry, has said.
He said “We must see the value in these partnerships and leverage our resources as such.”
Speaking at the Ghana Investment Forum held here on Friday on the sidelines of the second Intra-African Trade Fair (IATF), he said Africa was endowed with rich natural resources which could be used to embark on massive industrialisation.
Organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, the IATF2021 provides a platform to promote trade under the AfCFTA by bringing together continental and global buyers and sellers, and enabling stakeholders to share trade, investment and market information as well as trade finance and trade facilitation solutions designed to support intra-African trade and the economic integration of the continent.
“The hard truth remains, that, we cannot develop and achieve inclusive economic growth without industrialisation. An even harder truth, if I am allowed to take the liberty of the language, is that African countries cannot maximise trade amongst ourselves without building partnerships within our ranks,” he said.
The Deputy Minister cited the example of Zambia, Namibia, Botswana and The Democratic Republic of Congo which have copper, required for making components like alternators in motors and alloys in a gearbox.
The newspaper reports that Sports betting company, Betika, has announced a GH¢1.3m partnership with Asante Kotoko for two years, effective November 11, 2021.
This deal grants Betika full rights as Kotoko’s official betting partner.
Within the period, Kotoko will receive a cash amount of GH¢630,000 per annum and equipment like balls, nets, and other sports equipment.
Announcing the partnership, Mr. Rupen Samani, Chief Executive Officer (CEO) of Betika said, “Kotoko is the biggest club in Ghana, no doubt. And for us, it’s the third biggest club in Africa, and we are happy to have created this partnership.”
The partnership, he noted, confirms the company’s commitment to invest in the youth and in the country through sports, arts and culture with football being a key focus.
“Through this, we aim to improve the standards of the game as we nurture talent both at the grassroots and national level. We also believe that through the partnership we can influence positive change among the youth through creating an atmosphere of talent and skills development in sports.”
Above all, the company hopes that with the sponsorship, Kotoko will maintain its status as the most successful club in the history of the Premier League.