Center for Entrepreneurship Established to Reduce Graduate Unemployment
The Center for Entrepreneurship, Philanthropy and Ethics (CEPE) has been established by Heritage Christian College as a step to reduce the spate of unemployment in Ghana. The official CEPE launch took place on Saturday March 17, 2018.
According to the World Bank 2016 report on jobs in Ghana, about 48 percent of the youth in the country, who are between 15-24 years old do not have jobs. The Ghana Living Standards Survey estimates that 250,000 young men and women enter the Ghanaian labor market every year with only 2% absorbed in the formal sector while the 98% seek employment in the informal sector or remain unemployed. Experts say, the country needs to create 300,000 jobs every year to solve unemployment in the country. Research shows that much of the education in Ghana prepares students to be job seekers instead of job creators.
As a step to check this trend, Heritage Christian College set up the Center for Entrepreneurship, Philanthropy and Ethics as a “business-incubator” system to equip its students with entrepreneurial skills and mentoring before they graduate. The Center provides the following services to the HCC Community:
- Business advisory and nurturing
- Start-up challenge
- Business and ethics training
- Venture capital
- Research into business trends
- Day of Philanthropy support
- Talent hunt
- Business boot-camps
The HCC Start-up Challenge, for instance, has prizes ranging from GHc5,000 ($1,130 USD)to GHc25,000 ($5,650 USD) for the best business plans by HCC students and faculty.
The former President of the Association of Ghana Industries, Mr. James Asare-Adjei, who is the Chancellor of HCC, speaking on the theme, “Developing Ethical Entrepreneurs for the Next Generation,” said, “the way to go in providing tertiary education in our time is to place a lot of emphasis on skills-based training and practical approaches to training. We must refocus the way we train the next generation of Ghanaians with the aim of creating practical entrepreneurs who will conduct business transactions in an ethical manner.”
The Board Chairman of the Center for Entrepreneurship, Philanthropy and Ethics, Mr. Samuel K. Ayim, who is a former General Counsel of Ecobank Transnational, noted that, “if we can achieve the timely call of the President of the Republic for a ‘Ghana Beyond Aid’ in our time, there is the need for a fundamental shift, indeed a revolution, in the way our children are educated and socialized. We need not only a new mindset; we also need a new heart-set.”
The President of HCC, Dr. Samuel Twumasi-Ankrah, stated that “the CEPE project is an ambitious one that is set to make HCC students stand tall among their counterparts in Ghana and Africa. We are taking real and concrete steps to train ethical entrepreneurs who will create jobs to stem the tide of graduate unemployment in our dear continent of Africa.”
The Executive Director of the Center is Dr. Williams A. Atuilik, a Chartered Accountant, lawyer, and entrepreneur, who is also the Provost of HCC.
Thank you, to GhanaWeb for reporting this story: https://www.ghanaweb.com/GhanaHomePage/regional/Centre-for-entrepreneurship-established-to-reduce-graduate-unemployment-635691