He noted that with the over 1.4 billion population of Africa, young people had a huge market size that they could explore to build successful businesses and to speed up the development of Ghana and the continent at large.
He emphasised the continental median age between 18 and 22 years, saying young entrepreneurs should explore that youthful age group and produce strategic business ideas to cater for the needs of such group.
Mr Adu pointed out that, whilst AfCFTA offered a wider market, it also exposed Ghana to competition from other African countries.
That, he said, required Ghanaian youth to build relevant skills and expertise to deliver top-notch products and services to remain and thrive in business.
Mr Adu said this at the 15th Students for the Advancement of Global Entrepreneurship (SAGE) National High School Entrepreneurship Competition held in the University of Ghana Business School.
The event, which seeks to nurture the leadership and entrepreneurial abilities in young people, saw Aburi Girls’ Senior High School winning the 2024 edition.
Mr Adu advised the youth to build trust in business, especially by keeping their word anytime they promised to deliver a product or service at a specific time and quality.
Dr Peter Gash, a mining consultant, said Ghana must strengthen its apprenticeship system across all fields in the educational sector so that irrespective of one’s academic qualification, every graduate would undergo apprentice to fit properly into the world of work.
He urged the Ghana government to cut down the long bureaucractic processes that usually delayed and stifled new startups from flourishing.
Dr Gash asked young people to show commitment in business and to take their studies seriously, saying, “Education is freedom. Treasure it, because it is your passport to the rest of the world.”
Mr Festus Owooson, Director, Migration Advocacy Centre, encouraged the youth to form partnerships, leverage the collaborative strengths of one another, and allow themselves to be mentored to grow their enterprises into world-class businesses.
Mrs Eunice Dewi Adjei, Project Coordinator, WERise Network, said the country must create an inclusive environment to foster the spirit of entrepreneurship in both males and females.
She urged young people to build resilience, acquire knowledge and skills, develop success mindset, cultivate self-confidence, and utilise digital tools for positive ends.
