The Ghanaian Minister for Finance, Ken Ofori-Atta has advised Ghanaians youth to venture into entrepreneurship as the government payroll is overwhelmed.
Mr Ken Ofori-Atta who spoke at the graduation ceremony at the University of Professional Studies, Accra (UPSA) said the government is spending about 60 per cent of its revenue on remunerating 650,000 people which makes it unsustainable.
“… most people look for a job from government or state institutions, but that payroll is full. I can tell you that because we are spending about 60 per cent of our revenue on remunerating some 650,000 people, and that is not sustainable,” he said.
Ofori Atta further indicated that entrepreneurship, skillset and credit are the important things needed in the mix to ensure sustainability for the youth and offer them an opportunity to create their own path to wealth.
He added that education is a ladder to social mobility as well as economic and social prosperity, offering beneficiaries the opportunity to help society.
He also said that it is important for the graduates to acknowledge the privilege of accessing four years of tertiary education and do their best to impact society through the transformation and renewal of their minds.