INCREASING JOB OPPORTUNITIES

Page 7: Daily Graphic, May 2, 2012 One of the major challenges that have confronted governments over the years is the high unemployment rate and the need to create more jobs. Although the government is the largest employer in the country, it has not been able to address the unemployment problem all alone due to financial constraints and the high demand from various sectors of the economy. It is in this respect that the private sector or the informal sector has been acknowledged as a key partner in job creation and a reduction in the rate of unemployment in the country. No wonder the private sector has often been touted by successive governments as the engine of growth for the national economy and development. As President Mills reiterated at this year’s May Day celebration in Sunyani in the Brong Ahafo Region, the government was determined to provide the necessary support for the private sector to create opportunity for growth and more jobs. However, the sector has not been able to live up to expectation in respect of job creation, mainly because it lacks the financial wherewithal to expand or grow and, consequently, be well positioned to create more jobs. The lack of financial resources is worsened by the unwillingness of commercial banks to offer loans to operators in the private sector. In instances when the banks offer loans, the rates are so high that private sector players are unable to afford or find it extremely difficult to break even. The DAILY GRAPHIC believes it is time for the commercial banks to change their posturing and design a favourable lending regime for the private sector to enable it to complement the government’s efforts at creating jobs for the people. It is very unfortunate that basic products such as toothpicks, toothpaste, matches and fruit juices that can be produced by small-scale industries in the country are all imported. What that means is that by patronising those imported products, we are creating jobs for people in the countries of origin of the products, while worsening the unemployment situation in Ghana. But if the small-scale industries are adequately supported financially to produce such items, they would also develop the capacity to create more jobs. We, therefore, appeal to the commercial banks to extend a helping hand to the private sector. In the same vein, we urge the government to back its commitment to support the private sector with concrete action by creating the enabling environment for growth. It is even more imperative for the government to go a step further by developing the capacity of the private sector to enable it to measure up to international standards and create the requisite jobs. The DAILY GRAPHIC believes that job creation and the fight against unemployment are a shared responsibility and all stakeholders, including the commercial banks, must play their part to ensure success. We hope this year’s May Day celebration will inspire all stakeholders to contribute their quota towards creating more jobs.