09.02.2024 CediRates Spotlight

Excerpts of Bawumia Speaks that affect the youth

Dr. Mahamudu Bawumia at UPSADr. Mahamudu Bawumia at UPSA
09.02.2024 LISTEN

On 7th February 2024, Dr. Mahamudu Bawumia, Vice President of the Republic of Ghana delivered a speech at the Kofi Ohene Konadu Auditorium (UPSA) which was titled "Bawumia Speaks - Ghana's Next Chapter: Bold Solutions for the Future". The full speech can be found here however this article will cover excerpts of how the Vice President seeks to achieve those goals according to the National address.

  1. National service will no longer be mandatory - After completion of education, those that can secure jobs would be exempted from national service. National service will no longer be mandatory.
  2. No betting tax - There will be no tax on betting.
  3. Abolish E-levy - No taxes on digital payments. The e-levy will therefore be abolished.
  4. Training 1,000,000 youth in IT - Collaborate with the private sector to train at least one million youth in IT skills, including software developers to provide job opportunities worldwide.
  5. Modern jobs - Empower the private sector to create modern, sustainable and well-paying jobs for the youth.
  6. Reduce cost of internet data - Reduce the cost of data by working with industry players in setting clear policy guidelines that will remove any investor uncertainty and difficulties in business planning.
  7. Easy passport acquisition - Make it easy for Ghanaians to obtain passports, any GhanaCard holder will only have to pay a fee for a passport.
  8. Rental assistance - National Rental Assistance scheme will be enhanced to deal with the problem of demands for rent advance of two years and more.
  9. Digital and streaming platforms - Introduce digital and streaming platforms for artists to make tourism and the creative arts a growth pole in Ghana.
  10. NBA and NFL opportunities for young people - Seek school-level collaboration with international sports bodies like the NBA and NFL to make Ghana a hub for these emerging sports in Africa, to create more opportunities for young people.

In conclusion, the proposed changes present a transformative vision for the youth of Ghana. The abolition of the E-levy and betting tax, coupled with the reduction in internet data costs, will undoubtedly boost digital literacy and financial inclusion. The non-mandatory nature of national service and the ease of passport acquisition further enhance the freedom and mobility of the youth.

The commitment to train one million youth in IT skills, in collaboration with the private sector, promises to open up a world of opportunities. The creation of modern, sustainable, and well-paying jobs, along with the introduction of digital and streaming platforms for artists, will stimulate growth in various sectors.

The enhancement of the National Rental Assistance scheme addresses the pressing issue of rent advance demands. Furthermore, collaborations with international sports bodies like the NBA and NFL aim to make Ghana a hub for these emerging sports in Africa, creating even more opportunities for young people.

As these changes unfold, the youth can rely on for comparing exchange rates and fuel prices, ensuring they are always informed and can make the most of their resources.


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