Business News of Tuesday, 3 June 2025
Source: www.ghanawebbers.com
The African Dream: A Narrative of Hope and Challenges
The 'African Dream' is alive. It thrives on self-determination, prosperity, youth empowerment, and cultural renaissance. Agenda 2063 of the African Union supports these ideals. Many African nations are turning discussions into actionable development plans.
Africa's population is currently 1.5 billion. The continent has a youthful demographic with a median age of 19.4 years. Over 60% of Africans are under 25, according to UNFPA (2023). Additionally, the World Bank (2023) states that 41% are under 15 years old and 19% are aged 15-24. This demographic reality empowers African youth to shape their futures.
In Ghana, the population is projected to reach about 36 million by 2025. Notably, 57% of this population is under 25 years old (UNFPA, 2023). The median age in Ghana is 21.5 years, making it one of the youngest countries globally (United Nations Department of Economic and Social Affairs, 2023). This youthful demographic offers Ghana a chance to harness its young people's potential for development.
However, many young Ghanaians seek better opportunities abroad. According to the African Youth Survey in 2024, 62% want to leave due to economic constraints and unemployment. This raises an important question: Why do resource-rich countries face such youth migration?
Leadership plays a crucial role in this issue.
Today, immigration pathways to Europe and America are closing. Visa restrictions and deportation drives have become common practices. The geopolitical landscape around immigration varies widely across regions but often prioritizes citizens' interests in those countries.
In a report from UN DESA in 2019, about 970,600 Ghanaians left their country. Among them were approximately 466,000 who settled in West Africa and about 161,082 who moved to the United States. Europe received around 283,000 Ghanaians as well.
Projections suggest that this number could rise to between 1.1 million and 1.3 million by May 2025.
The Ghana Registered Nurses and Midwives Association (GRNMA) reported troubling trends regarding healthcare professionals leaving Ghana. Over six thousand nurses migrated between 2021 and early 2022 due to poor salaries and working conditions—a clear sign of brain drain.
In the fiscal year of 2023 alone, more than five thousand F-1 student visas were issued for Ghanaians wishing to study in the U.S., up from just fifteen hundred in 2018.
Corruption also exacerbates challenges facing Ghana beyond unemployment and economic hardship. The Corruption Perception Index (CPI) for Africa shows that ninety percent scored below fifty out of one hundred in transparency measures.
Ghana's score was forty-two out of one hundred in the CPI for twenty-twenty-four—down from forty-three in twenty-twenty-three—indicating a troubling trend.
Illicit financial flows amounting to US$88.6 billion annually affect Africa significantly; Ghana contributes around four to five percent—approximately US$3 billion—to this figure.
So what can be done about these systemic issues?
It still comes down to leadership.
While there have been efforts in Ghana addressing these pressing issues on a continental scale exist notable initiatives focused on job creation.
For example, the African Development Bank’s Job for Youth Strategy aims for twenty-five million jobs by twenty-twenty-five through skill-building programs benefiting fifty million youth overall.
Additionally, the African Union’s #1MillionNextLevel Initiative seeks tangible opportunities for three hundred million African youth by twenty-thirty.
In Ghana specifically, the Youth Employment Agency promotes job creation through its Graduates in Corporate Support Programme aiming at employing twenty thousand youth.
Moreover, since its inception in two thousand seventeen, Planting for Food and Jobs has supported over one point four million beneficiaries within agriculture.
Vocational training initiatives under CTVET have enrolled fifteen thousand youth across various technical programs.
The National Entrepreneurship and Innovation Programme has trained over forty-five thousand entrepreneurs since two thousand seventeen while supporting fifteen thousand startups creating over one hundred thousand jobs as of twenty-twenty-three.
These initiatives reflect our leaders’ vision but are insufficient alone for sustaining growth as our population doubles by twenty-fifty.
Youth must take action at an individual level too; national outcomes often mirror personal actions taken daily.
To navigate future challenges effectively we can draw inspiration from Bronwyn O’Brien’s ‘Seven Mountains of Influence’:
- Family
- Education
- Arts & Entertainment
- Media
- Politics
- Economy & Finance
- Religion
If Ghanaian youth aspire toward change they must choose which mountains they wish to climb while adopting mindsets geared toward overcoming obstacles ahead.
How do we tackle these challenges?
First: cultivate progressive foresight! Understanding that our continent's population will double means we must adopt proactive stances rather than reactive ones!
Second: maintain optimism! Significant progress requires thinking beyond conventional limits!
Third: embrace flexible grit! Commitment alongside adaptability helps us navigate challenges while keeping visions intact!
Fourth: develop multi-faceted mastery! Generalists skilled across multiple areas tend towards thriving!
Finally: collaborate with like-minded individuals! Unity strengthens us against systemic challenges faced today!
Our collective strength lies not only within numbers but shared intellect too!
Time favors us; let’s shift mindsets from mere survival towards leaving lasting legacies behind!
One point five billion Africans await saviors—and that savior could be you! We aren’t just future leaders—we’re present changemakers learning from past experiences poised ready create meaningful impacts together moving forward!