Stanbic Ghana Limited's managing director, Kwamina Asomaning, has described a variety of measures the bank is doing to address the nation's unemployment problem.
The "Stanbic Bank Incubator" (SBI), a business programme under its corporate social investment (CSI) programmes, is a significant one among them.
This aims to encourage the growth of entrepreneurship among young people and women.
On June 14, Mr. Asomaning noted during the second quarter's Graphic Company-Stanbic Bank breakfast meeting in Accra that the bank was well-positioned to help entrepreneurs pursue their ambitions, which in turn fueled both individual business growth and national economic expansion.
All facets of the economy were represented during the breakfast gathering. Its subject was "Tackling Unemployment." "At Stanbic, our brand is built around discovering innovative methods to realise goals. Parents who want to provide the greatest education for their children, graduates who want to enter the profession and put their newly acquired talents to good use, and young graphic designers, retailers, and technicians who want to catalyse their business goals," he added.
He said that a sizeable portion of the company catered to the requirements of small and medium-sized businesses (SMEs).
"We should expect to help people who are willing and able to build their own market and work possibilities in the absence of receiving an offer of employment from a recognised organisation.
In addition to providing appropriate financial products to help our customers' enterprises, we also genuinely care about enabling their work through skill support, which directly benefits our clients, the man stated.
In 2020, he said, 47 capacity-building workshops were organised under the SBI, with a total of 2,498 participants.
According to him, the bank also held 52 sessions of coaching and mentorship, from which a total of 380 SMEs and startups directly benefitted.
STEM as a career path
Mr. Asomaning believes that the solution to the unemployment problem stems from how the educational system prepares young people for either organised work or entrepreneurship.
The success of people desiring to study STEM courses and work in STEM fields, according to him, is a result of the bank's commitment to science, technology, engineering, and mathematics (STEM) education.
"We feel that the potential to influence change and seek prosperity is closer than we would dare to hope," he stated. "We believe that with a little support from us, if we can.
Increasing competition
Speaking on the subject, George Owusu-Ansah, Managing Director of Unilever Ghana, asserted that Ghana must position itself to be internationally competitive in order to generate employment and compete in the global economy.
He noted the Africa Continental Free Trade Area (AfCFTA) as providing a chance to reposition items and add additional value.