Ghana Recorded 40,000 To 50,000 Job Losses Under Akufo -Addo in 3Yrs- CDG-GH Report

The Caucus for Democratic Governance, Ghana (CDG-GH), has revealed that Ghana recorded over 10,285 job losses between May to August 2018.

The CDG-GH gave the breakdown as follows; EIB Network and Ghana Media a subsidiary of Group Nduom recorded 450 jobs; the Textile sector lost 235 jobs; BXC Company Limited lost 600 jobs; Rider Steel Company saw 1000 jobs loses; Goldfields Ghana sent home 1,800 workers; the banking sector also recorded 1,700 jobs loses; Vodafone Ghana laid off 3,000 workers while the Oil Marketing sector lost 5,000 jobs.

This was contained in a press release issued and signed by the CDG-GH Executive Director, Dr E.K. Hayford.

According to Dr. Hayford the promises made by Nana Addo Dankwa Akufo Addo during 2016 electioneering campaign to create more jobs for the teeming unemployed youth when elected as president has seen the opposite three and half years into his administration.

He said findings from a research conducted by his outfit revealed that more people have lost their jobs during the three and half year reign of Nana Akufo Addo.

The CDG-GH Executive Director explained that about 20,000 people have also lost their jobs directly and indirectly due to the collapsed of the over 420 savings and loans, Micro-finance companies and other financial institutions.

“When you add the direct and indirect job losses as a result of the banking and financial crises there are about 40,000 to 50,000 Ghanaians who have suffered job losses or have been thrown out of business. This is the highest unemployment rate in the history of Ghana” he noted.

The CDG-GH Executive Director warned that something pragmatic and urgent should be done by government to ensure that the about 200,000 students who graduate every year from our tertiary educational institutions are absorb into the various sectors.

“Looking at the figures, the 100,000 NACOB Training Program and the casual jobs created in the Agricultural sector, is nothing to write home about”. He added.




Below is the full statement



PRESS  RELEASE                                        13TH August 2020






The Caucus for Democratic Governance, Ghana (CDG-GH), has observed, sadly  that Ghanaians are increasingly complaining because they have no jobs, adding that the promises made by Nana Addo during 2016 elections;  have not been fulfilled, especially the promise  to  create jobs.


JOB LOSSES          

There have been many job losses since the change of Government in 2017.  From May to August 2018, not less than 10,285 job losses were recorded, the highest unemployed rate within four months in the history of Ghana. EIB Network and Group Nduom lost 450 jobs; Textile Works lost 235 jobs; BXC Company Limited lost 600 jobs; Rider Steel Company lost 1000 jobs; Goldfields Ghana lost 1,800 jobs; Consolidated Bank Ghana lost 1,700 jobs; Vodafone Ghana lost 3,000 jobs and Oil Marketing Company lost 5,000 jobs.  About 20,000 people have also lost their jobs directly due to 420 financial Institutions that have been shut down. Adding the indirect jobs lost as a result of the banking crises we have about 40,000 to 50,000 who are jobless and out of business. Besides over 200,000 galamsey and small scale mining workers are jobless. As a result of COVID-19, further 300,000 workers country wide has lost their jobs.  


Collected data shows that about 200,000 students graduate every year from our tertiary Institutions. About 400,000 or more graduate from the SHS. If we subtract those entering the tertiary institutions, we are left with 200,000 on the street.  From the JHS, we have about 603,000 graduating. If you subtract the 400,000 who gain admission to SHS, we are left with 203,000 on the street. Out of the school system therefore, the total number of unemployed set on the street every year is 603,000. In four years, it will be 2,412,000 jobless graduates. These figures are on the lower side because the school feeding program and fee free SHS have increased the numbers. If we count the number of present unemployed at about 3.5 million, we will be confronted with a conservative figure of about 12 million unemployed in 2020; considering the 2.7% yearly population increases.

Looking at the above figures, the 100,000 NACOB Training Program and the casual jobs created in the Agricultural sector, “is nothing to write home about”.



I believe strongly President Akufo Addo can learn from the strategy of former President Mahama. Former President Mahama carried out massive Infrastructural projects. The building of Tamale, Ho, Terminal three, Accra and Kumasi Airports; Universities at Ho and Sunyani;  University hospitals in Legon and Tamale; Regional hospitals in all the ten Regions; building of polyclinics and chip compounds across the length and breadth of the country.  He constructed the Kwame Nkrumah and Kasoa Interchanges, the cocoa roads and the eastern corridor road and Komenda Sugar factory among others. He also built 130 of the two hundred Day Secondary Schools across the country, to give employment to the people.



 The success strategy is that at any given point in time, the former President- had about 2.5 million people on Government ticket in employment. Even where the projects were completed. The newly built Universities and hospitals employed more jobless people and so were productive. Through this strategy, nurses, teachers, lecturers, engineers, administrators’, carpenters, masons, painters, electrician, drivers, laborers, surveyors, contractors and many others found jobs from the projects. Market women and shop and business owners were happy because there was brisk trading and money was in circulation. Private owners could therefore employ more people who paid taxes. This is part of the strategy for Nation Building in Work and Happiness.



         Dr E.K.Hayford

   Executive Director,  CDG-GH

Leave a Reply

Your email address will not be published. Required fields are marked *